Just a quick check list of things distilleries should record Jan 1:
Take a complete physical inventory on or after January 1 (but before January operations start) including:
- Production, Storage, and Processing Tanks (list Tank name, Account, Spirit Type, Total Proof Gallons, True Proof + any gauging calculations)
- Barrels (Counts by fill date, size, spirit types, entry proof, and Original Proof Gallons)
- Finished cases (Counts by product type, bottle proof, with Proof Gallons/case)
Sum up the total Proof Gallons in each of the 3 accounts. Compare the total Proof Gallons in house to what your End of Month December TTB Reports would show.
If there are discrepancies, start the research to reconcile and/or make correcting Gains or Losses.
You can actually do this exercise at the beginning of any month to compare how many Proof Gallons you have in-bond versus what you are reporting.
If you have significant discrepancies, feel free to give me a shout for a possible on-site clean up. Donald@whiskeyresources.com
Also, consider registering for Whiskey Systems to make 2017 the year you are in full TTB compliance!
https://whiskeysystems.com/