Wine Accounting 101: Understanding the Basics

Then, you must decide how much money is going to be allocated between different departments to run the business and sell the wine. Finally, accounting for vineyards and wineries you must track how much is spent on all the other operational costs of your winery. It’s exacting work, and made worse by the often confusing […]

Bookkeeping Quiz and Test

B. Accumulated depreciation is the account that is always credited when recording depreciation expense. This account is the total of all prior years’ depreciation expense. Accumulated depreciation is a contra asset account which means it is opposite of an asset. Assets increase with a debit, so accumulated depreciation is increased with a credit (opposite). Double Entry Bookkeeping […]