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Craft Brewery

checklist, indicating what task to do, when to do it,
and who is responsible for completion. Below is an
example of a month-end financial checklist:

The process checklist should contain all the neces-
sary steps to close the books for the month in order
to ensure the accuracy and completeness of the
information. For example, all payroll journal entries
should be made on the 1st day of the new month
and all bank statements should be reconciled by
the 5th business day of the month.

To create your month-end process checklist, have
your bookkeeper write down all the actions they
take to close the month. Compile this list of actions
and assign due dates and a responsible person. craftbreweryfinance.com to identify any needed
Each month when it’s time to close the books, use changes.
the checklist as a guide to make sure each step is In today’s uncertain business environment, finan-
done and completed on time. cial literacy is a competitive advantage. Use this

The best way to make sure you have good finan- advantage to drive increased financial performance
cial information is to follow a good process con- in your brewery business today.
sistently. To download a full month-end process
checklist, visit www.craftbreweryfinance.com and Kary Shumway is a Certified
enter month-end process in the search box. Public Accountant and has
been working as a CFO
Wrap Up + Action Items in the beer business for
the past 15 plus years. He

Financial literacy is the ability to read and under- creates financial training
stand your financial statements so that you can courses for beer wholesaler
improve results in your brewery business. Improved owners so that you can build
results may be sales growth, margin increases or a more profitable business.
positive cash flow. You define the result you want
to achieve and use your financial literacy to make it
happen. For more information
please visit...
Use the summary income statement templates www.craftbreweryfinance.com
presented here or create your own so that you can
monitor financial outcomes. Review your chart of
accounts and compare to the template at www.

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