Our economy today requires accurate inventory, expenses, and COGs - even for you the craft producer. Read how syncing your management system to your financial system will help your team daily.
In the manufacturing business model today it requires cost accounting for accurate inventory, expenses - as well as cost of goods sold.
In a commodity based market, we are often at the mercy of when ingredients are available. For example -
pre-purchasing hops and storing them or buying all the juice for the year within a 6 month time period. If you expense these ingredients at the time of purchase, your Profit and Loss will pay the price.
Having a craft software platform that can help you account for these items is key.
Ekos’ management software allows you to track the cost of the items coming into your craft brewery from start to finish in real time – giving you the ability to see your cost of goods sold. The expense isn’t booked until you sell the product, ensuring that your cost of goods sold are in alignment with your income – allowing you to easily see your gross margin.
Performing these tasks manually for your brewery or cidery is a lot of work, requires a ton of spreadsheets, as well as advanced methodologies that are prone to data entry errors. Ditch the spreadsheets and let the Ekos management platform do the heavy lifting for you, by syncing your QuickBooks account to it.
Implementing these recommendations will allow your team to be set-up for success within your cidery or brewery management software.
Interested in learning more about how Ekos syncs with QuickBooks Online and Desktop? Reach out to our team @ firstname.lastname@example.org.
Learn more about QuickBooks Online and Desktop.