The saying is that “there’s no accounting for good taste“, luckily however this is not the case for wine where Vinsight plus Xero can offer exactly that. Perhaps more explicitly we are offering Accounting for Good Wine.
Xero is an online app that offers an accessible, well priced and well designed accounting platform that when combined with Vinsight, a winery integration add-on for Xero, forms a great solution for modern state-of-the-art wineries looking to apply the same focus to their business as they do to their winemaking.
Historically there has been some overhead in getting the advice of trusted professionals like your accountant due to the fact that data they needed for giving valuable advice was physically less accessible in legacy systems. This was also compounded by the fact that often businesses need several systems to get the job done, and these often did not co-operate as well as the people who used them.
Modern web based SaaS (Software as a Service) apps are changing the way businesses work internally and externally. For one, the default approach is to enable sharing of data and work processes seamlessly within and external to the business so that each member of staff and your service providers are contributing to the process as and when needed. Examples of this are that with secure, web based accessibility of your data, your accountant can look in and contribute to the success of your business as and when is necessary and in a timely fashion, not just at the end of the financial year when your performance is already determined. Combine this approach with Vinsight, an app which provides operational tools that collect financial data from the day to day winemaking, sales and inventory tasks in your business. With this combination you have a powerful and timely account of how your business is running day to day rather than after the horse may have bolted at the end of the financial year.
CalCPA Wine Industry Accounting Conference
Vinsight will be attending the CalCPA Wine Industry Accounting Conference next month as a guest of the Xero who are the platinum sponsor for this event. We’d love to see you there and talk about how Vinsight plus Xero could help you to account for your good wine.