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Some accounting software also includes bill pay and payroll software, so you can run payroll and manage other aspects of your business finances all in one place. Use the month end checklist and simple financial reports to save time and money for your brewery. For taproom-focused breweries, revenue includes draft beer, packaged https://www.bookstime.com/nonprofit-organizations beer, growler sales and merchandise. You could make this list as broad or narrow as you like, it all depends on how detailed you want your financial reports to be. Successful craft brewersare growing at an unprecedented rate and the ability to scale on an as-neededbasis is one of the biggest advantages of cloud technology.

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• Moving away from manual spreadsheets can save your business hours of lost time every month.
• The right system can avoid the previously mentioned hazards while improving communication and accuracy across your brewery and streamlining multiple processes.
• Put simply, you need to know how much money you have available for ingredient and equipment purchases as well as daily operations.
• Of course, it’s vital to keep the financial perspective of inventory management in mind as well.
• However, manual financial models can only help you assess the data you intentionally feed into the spreadsheet.

This helps to identify any discrepancies or errors in your accounting records, such as missing transactions, incorrect amounts, or duplicate entries. “The event celebrates the shared passion of craft beer and the craft brewers that keep it alive, bringing together six finalists,” a press release from Sam Adams said. “Limited tickets are available for beer lovers to join Samuel Adams experts in meeting the finalists, hearing their stories, and tasting their brews before casting a vote for the 2024 Experienceship winner.” This process can be laborious, especially if you are making do with manual spreadsheets and older document management systems. Taproom-focused breweries are having a significant impact on the traditional beer industry. Despite their small size, these breweries can be very profitable, provided they have a solid financial plan.

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Book your demo today to learn how Ekos can help your brewery business thrive. Managing this complex schedule of fermentation times, brew dates, and material operations is challenging enough. But balancing the books with a manual brewery accounting spreadsheet process can feel just as slow.

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It shows your bank balance, cash that came in and cash that went out. The income statement and balance sheet measure “transactions,” but the cash-flow statement measures cash. As noted, the chart of accounts is a list of revenue and expense items. The list is made up of descriptive words to help you identify what type of activity goes into each account.

Beer CPA understands the complexities that come with running a brewery – including regulation, tax and the upfront capital required – and have the expertise to help. We’re members of the Brewer’s Association, the North Carolina Craft Brewers Guild and have built an extensive network brewery accounting of relevant contacts to boost our understanding and help our clients. Think of the general ledger as a big, dusty accounting book where all of the records are kept. All of the sales and expense details, customer transactions and vendor payments end up in the general ledger.

Q: How do you allocate actual labor that goes into each batch of beer?

Use your accounting software to generate the report by selecting the type of report, date range, and any other relevant parameters. That means taking a hard look at your current analytics and any processes tied up in manual data collection and old-fashioned spreadsheets. Keep reading to perform a quick check that your brewery accounting spreadsheets are doing the bare minimum. Then consider how switching to a more comprehensive, modern accounting and data analytics solution can streamline your business.

• I still love my clunky, manual, self-designed spreadsheets for tracking my small business finances, and maybe you do, too.
• Reconciling accounts involves comparing the transactions recorded in your accounting system with the actual transactions in your bank and credit card statements.
• Investigate areas where expenses areincreasing (either in total or as a percentage of sales).
• Probably the biggest immediate benefit that every small business owner will get from accounting software is that the software automatically connects to your bank.
• That, in turn, allows you to better forecast future costs as directly connected to the inventory you’ll need.
• Raw materials inventory is broken down into a bunch of accounts, including raw materials for malt, and hops, and chemicals, and packaging materials.

Kelly also worked as a Controller at a craft brewery for morethan 6 years. Today she combines her technical skills and industry expertise todeliver customized accounting, finance and operational assistance to BakerTilly’s craft brewery clients. The industry is highly regulated and requires owners to maintain detailed accounting records.

It might not be the reason you got into the business, but brewery accounting is an essential component of managing your brewery. When it comes to your financials, you have to get the details right to track revenues and expenses, maximize your margins, and submit accurate reports. Once you have ensured the data is accurate and complete, you’ll use your accounting software to input the financial data into your system and generate a report. Financial reports can be generated for any time period, such as a week, month, quarter, or year.

• If so, it collects a refundable deposit on each one, which it pays back when kegs are returned.
• Most of the best accounting software programs will help you track your business income and business expenses automatically without you having to create spreadsheets and do manual data entry.
• The more focused it is on your specific niche, the better.That’s where Ekos enters the equation.
• You don’t have to choose between accounting software and your favorite accountant!
• It shows your bank balance, cash that came in and cash that went out.

Taken together, these three statements provide a rounded view of the financial results and overall health of the business. In addition to the chart of accounts and the general ledger, a well-structured taproom-focused brewery needs to maintain accurate financial statements, which can be thought of us summarized reports. Craft Brewery Finance publishes a weekly beer industry finance newsletter, offers guidebooks on topics such as cash flow planning and basic budgeting, as well as an online course on improving taproom profits. The newsletter — with a free trial, industry guides and resources — is available at If so, are you confidentyou’re monitoring the right type of data to achieve your business goals? We plan to explore these questions and moreas we dive into the issues breweries often face when it comes to financialreporting.