Winery Management Toolkit
With several hundred wineries on the Central Coast, Glenn Burdette is frequently asked for business tools and templates to assist winery owners, managers, accountants and bookkeepers as they navigate the complexities associated with winery accounting and finance.
With several hundred wineries on the Central Coast, Glenn Burdette is frequently asked for business tools and templates to assist winery owners, managers, accountants and bookkeepers as they navigate the complexities associated with winery accounting and finance. As part of the Central Coast Wine Region, Glenn Burdette’s Winery Management Toolkit offers resources to help small business owners. These tools are “open source,” meaning they can be modified by you to fit your particular needs. With these tools you can gain deeper insight and feedback from your business at its various stages. Please contact our Wine Team (805.544.1441) if you would like to discuss any of these tools and how they could be utilized in your business.
This template can assist you with calculating the cost to produce wine. It is designed using the “period” concept of accounting and assumes that this spreadsheet will roll from period to period. It is not designed to capture or calculate a single vintage from beginning to end. This is because vintages often span multiple accounting periods.
This template can help you compute your expected revenue after accounting for your various profit channels and their associated discounts, allowances, special pricing arrangements, and incentives.
- This sample chart of accounts can be provided in Excel in the event that you wish to import it into your accounting system. This chart of account assumes that you have a “flat” general ledger system that does not have volume tracking that follows the cost accounting.
- This sample QuickBooks 2014 file is a starting point for new small-sized wineries. This QuickBooks file is populated only with the Chart of Accounts. Your company information will need to be updated under Company > My Company.
- This PDF of the sample chart of accounts shows how general ledger accounts can be grouped for cost pooling. This grouping allows for summary level and detailed reporting of cost pools and their related cost accounts.
About Chart of Account Numbering:
Accounting best practices use a standardized numbering system for the chart of accounts. This assists with data input, mapping of general ledgers to financial statements and tax return preparation and assists with tracing, ticking and tying schedules to specific accounts. We recommend that each account be assigned a number. By using six digits you can break down your chart of accounts into cost pools and expense categories.
10000 · Assets
20000 · Liabilities
30000 · Equity
40000 · Revenue
50000 · Cost of Goods Sold
60000 · Production Costs (allocate to inventory)
70000 · Sales & Marketing Expenses
80000 · General & Administrative
90000 · Other Income & Expenses
This template can help you set sales goals with your sales managers and track expected sales against actual sales. Designed to be simple, this template forecasts based on seasonality, which you can determine from your own sales history or benchmark against industry averages. Each channel rolls up into an executive summary.
These templates can give you a tool to assist you with structuring a formula-based incentive compensation plan that align with three strategic priorities. The incentive compensation model allows for setting a range of success factors that are independently computed and weighted against a total incentive compensation amount.
This template can help you compute your financial performance metrics and compare change in performance over various periods in time. These metrics also provide standard benchmarks for ratios that apply to various size wineries.
Before making the decision to move forward on a Capital Improvement Project, be sure you have a clear understanding of the full impact it will have on your after-tax cash flow. This template is a case study of an analysis of the cash cost and cash benefit of moving case storage from a third party off-site facility to an on-site constructed case goods facility, with the assumption that the facility will only be used for case goods storage and not wine processing.
DISCLAIMER: This toolkit is provided to you as a courtesy and is not designed to be used or interpreted as a method of accounting that can be used for GAAP or tax compliance purposes. The figures contained in the sample data set are completely fictional and should not be viewed as indicative of industry standard. Further, any similarity of these figures to any organization are merely coincidental.