by Kary@BeerBusinessFinance.com | Nov 25, 2024 | Financial
“Compete externally and you compare. Compete internally and you improve.” -James Clear Benchmarking against other breweries (competing externally) is a way to compare your results to the market. For example, if the average brewery spends 3-5% of sales on...
by Kary@BeerBusinessFinance.com | Nov 22, 2024 | Financial
This week I had the pleasure of presenting at the North Carolina Craft Brewers’ Conference. The presentation topic was how to use a 5-step financial process to transform results in your brewery. In the video and presentation deck below, you’ll learn the...
by Kary@BeerBusinessFinance.com | Nov 18, 2024 | Financial
Once you’ve created your brewery financial plan, the real work is to put it into practice. To execute. To make the plan a reality. The best way to do this is to engage your managers using weekly financial huddles and the 2-minute drill Weekly huddles provide...
by Kary@BeerBusinessFinance.com | Nov 11, 2024 | Operations
Year end financial procedures focus on two areas: Compliance items Value-added items Compliance items include filing 1099s and updating W-9s. These are important, need to be done, but don’t add much ‘value’ to your brewery business. Value-added items...
by Kary@BeerBusinessFinance.com | Nov 4, 2024 | Financial
One of the biggest obstacles to getting complete, accurate, and timely financial statements is a lack of month end procedures. The month end procedures include: Prepare and record journal entries Reconcile bank statements Prepare state and federal tax reporting Review...
