October Newsletter 2022
4 min read | Written by Jeanette Tan
Hello,
I hope your grapes are all in and that the pace of the harvest has slowed down enough for you to enjoy the gorgeous autumn weather. Hit reply and send us a picture of the leaves changing color.
Wine Expo 2022 - Use Code QBW120 for a free pass
Team QBWS is headed to the North Coast Wine Expo
For the first time, we will have a booth at the Expo on Dec 1st at the Sonoma County Fairgrounds. Use code QBW120 when you check out for a FREE pass to the trade show floor. Check out the deals (including ours) on the Expo Website. Drop by booth #120 in Grace Pavilion to say Hi and pickup some swag. (Silver Club members: We have a special gift for you.)
We will have our new SOPs (Standard Operating Procedures) with us, so you can check them out.
Wine Industry Economic Impact Report
“...people in many sectors are employed because of that magical elixir we call wine. Bottom line: Wine is the ultimate value-added product”
Tim Trezise, president of WineAmerica.
The report, sponsored by WineAmerica showed a total economic impact of $276.8 billion in 2022. This was a $57 billion increase since 2017. Here is a summary in Winebusiness.com.
On the WineAmerica website scroll down to the bottom to read the impact in your state.
Mini Course: Sales Tax Made Easy
Coming November 1st 2022
Do you stress when it is time to file your Sales Tax Returns? Are you worried that you are including the right information? Most of the small wineries file quarterly, so that is just enough time to forget how to file the !@#$ thing.
We find that yes, everyone is stressed, but we also find that many folks have a convoluted, overly complicated method for figuring this out. Our method is straightforward, especially if your file is set up following our Fundamental Five system.
I will show you step-by-step how to pull the numbers so that they are ready for you to file a return in California. If your state requires that you first show your grand total revenue, and then subtract the various sales that are excluded from sales tax, then you will find this mini-course useful. And we will include an SOP (Standard Operating Procedure) for you to download and add to your SOP Manual. (Have you bought a set of SOPs? Click for details)
Is your tasting room’s music legal?
Another license you need to worry about is your music license for the tunes you plan in your tasting room. The WineAmerica site has an easy-to-read summary of the licensing rules.
If you missed the website ADA compliance warnings, they have a nice recap as well.
QuickBooks 2023 is now available
DO NOT RUSH TO INSTALL THE NEW VERSION. (Sorry for shouting) If you are on the subscription payment plan, this upgrade is included in your subscription and you are seeing a pop-up every time you open QuickBooks. Please resist the temptation to install the program at this time.
I recommend that you wait until February or March 2023, or after you have closed the file for the year. There are often bugs in the early releases of a new version, and it takes Intuit a few months to fix those bugs.
You have been warned….
Silver Club News
Join us for Office Hours, Tuesday, October 25th at 10 am Pacific. We answer your questions about QuickBooks and managing a profitable winery in a live group setting.
If you cannot attend, please hit reply and email us your questions. The recording will be in the Learning Library soon after the session.
The mini-course Sales Tax Made Easy is FREE to Silver Club members during the month of November. If you want forever access, use the code on the Silver Club home page for a 10% discount.
Now that harvest is over it's time to plan for next year. During Office Hours I will review the steps to create your budget and forecast. See you there!
Something Fun
You have heard of endangered animals. How about endangered foods? No, they are not rutabagas and water chestnuts. If only. Watch the Fight to Save your Favorite Food.
Did you know that it takes a cork tree 43 years to produce a bark layer suitable for premium wine? Read about why cork is making a comeback
