Winery accounting

Tracking your winery’s performance is the foundation of running a profitable business and ensuring the longevity of your company. Without careful planning and accounting, costs to make wine can quickly get out of hand and cut into your profit margins. For this reason, it’s important to understand and track the production and profits of winemaking.
Simply put, the cost of wine is determined by how much you can charge consumers for your product and how much you have to spend to make and sell that product. The cost of wine is largely dependent on your market, leaving little room for expanding profit in that area. However, you can exercise control of your production costs, including labor, materials, and overhead. Winery accounting can help you find lost opportunities for profit within your production costs.
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0:00 Introduction
0:03 Winery Accounting
1:16 Challenges to Lowering Production Costs
2:26 The Basics of Allocating Costs
3:41 Major Categories of Winery Costs
6:56 Methods of Inventory Accounting
8:22 Developing Financial Reports

[@clydemeyer867]

Thanks for the insightful session👌

[@proteaacademy1703]

Our pleasure!