Craft Beer Industry
In his novel, Jitterbug Perfume, Tom Robbins wrote, “Never underestimate how much assistance, how much satisfaction, how much comfort, how much soul and transcendence there might be in a well-made taco and a cold bottle of beer.”
As a Coloradan, I couldn’t agree more. Beer and breweries have always been a vital part of our state. We have over 160 breweries and brewpubs. Denver has been nicknamed “The Napa Valley of beer,” and, in fact, one of the first permanent structures built in Denver was a saloon. It’s an industry that’s booming with no signs of letting up. For companies within this industry, or for those getting started, Balanced Equation is the clear choice for providing accounting and financial services. As your local CPA firm, we specialize in brewery accounting and business planning.
We find that the three biggest accounting mistakes breweries make are:
- Not having enough capital on hand.
- Not planning for information flow, essentially making sure that information can smoothly go from one department to another.
- Not having enough funds available in case of emergencies and unexpected expenses.
With years of accounting experience, a passion for providing exemplary service, and deep expertise working with numerous craft brewers, we’re looking forward to helping our clients stay on their game. Some of the industry specific services we’re proud to provide are:
- Compliance standards within the brewing industry can be complex. Even worse, they can change very quickly. Since we’re well versed in these regulations, we’re able to help you remain up to date.
- Let us handle your payroll, accounting, tax planning, and other financial services, so you can focus on the most important job of all: Making great beer. Choosing an accounting software is a critical decision in the start up of a brewery to allow for proper cost tracking and to avoid the costly issue of needing to implement a new solution within only a few years. We can help you analyze whether QuickBooks is a fit for your business, or whether you need to choose a brewery-specific application such as Ekos Brewmaster or Orchestrated Beer.
- If your brewery is in the beginning stages of the business life-cycle, or you’re looking to get started, we can provide you with help setting up a business plan by handling the relevant licenses and permits and providing useful information to start strong and grow stronger.
- As an industry savvy CPA, we’re in a unique position to witness companies similar to yours and provide you with specific information regarding what has worked well, and what hasn’t.
If you have questions about our brewery accounting and consulting services, or if you’re ready to get started, contact us today!