The Best Way to Get Accurate Brewery Financials

Category: 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 and test material balance sheet items

I find that checklists can be a really helpful way to keep you on track.

Checklists also organize the to do list in a simple way, and help get the financials done so that you can make data-driven decisions.

The checklist has four main components:

  1. The task to be done
  2. Due date for the task
  3. Responsible person
  4. Check when the task is completed

For example, bank statements must be reconciled by the 3rd day of the new month by Mary, who will then email Sally when the task is completed.

Ready to get complete, timely and accurate financials for your brewery?

Do this next:

  1. Watch the short video: The Best Way to Get Accurate Brewery Financials
  2. Download the brewery month-end financial checklist
  3. Learn more about our brewery financial network – brewery owners who meet monthly to share ideas an best practices

 

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