Generating a TTB Report (702) in vintrace is a simple task that you can perform at the end of your monthly, quarterly, or yearly reporting period.
If you’ve been using both your old system (e.g., spreadsheets, paperwork) and vintrace to track gallons/movements, you’ll need to make some adjustments the first time you generate a TTB Report. Specifically, you’ll need to combine the details of two TTB Reports by doing the following.
- Be sure to use the correct import date. This is the date entered on your template when your data was imported into your vintrace database. If this date coincides with the first date of the reporting period, you may be able to just run your first TTB report in vintrace. If you make any corrections to your opening vintrace balances, be sure that they’re backdated prior to the import date.
- Generate the TTB Report using your old system up to the import date. When generating the TTB Report from your old system, focus on the opening balance and items describing “movements” in Sections A and B. From this point forward, we’ll refer to this report as the “old 702”.
- In vintrace, run the TTB Report. You can find the report by selecting Reports in the sidebar, then selecting the Government Reports category.
When you run the TTP Report in vintrace, use the import date as the start date, and the end of the period as the closing date.
We’re interested in the movement items and closing balances in Section A and Section B. The 702 that vintrace generates will allow you to override the values before you print and submit to the TTB. We’ll refer to this as “vintrace 702”.
If the old 702’s closing balances don’t match the vintrace 702’s opening balance, it might be because the data you sent vintrace to import did not match your old system’s balance. If this is the case, contact vintrace Support so that we can help you correct any inconsistencies before continuing.
- On your vintrace 702, replace the opening balance volumes in Sections A and B with the values from the old 702. For each movement item in Section A (items 2-11 and 13-30) and Section B (items 2-6 and 8-19), add the value from your old 702 into the corresponding item in your vintrace 702. If the item is empty on your vintrace 702, copy the value from the old 702 into the corresponding item.
- Calculate the TOTAL for section A (items 12 and 32) and Section B (items 7 and 21).
For Section A, add items 1-11 in your vintrace 702 and enter the value into item 12. Add items 13-30 and subtract this number from item 31; enter this number into item 32. At this point, item 12 and 32 should be identical. If they’re not, be sure that you haven’t missed any items in step 4.
Do the same for Section B by adding items 1-6 and entering the value into item 7. Add items 8-19 and subtract it from item 20; enter the number into item 21. Items 7 and 21 should match. If they don’t, check the numbers in step 4.
- Check the back of the form using the same principles in steps 4 and 5 to record opening (from old 702) and closing (from vintrace 702) along with items (combination of both 702s) for these parts. For Part VII, the value from vintrace should be all you need in the “IN FERMENTERS END OF PERIOD” section.
When the TTP Report balances, create a hardcopy by printing the report and filing it for future reference.
For subsequent TTB Reports (702), you’ll be able to generate the report using only vintrace since you’ll be using vintrace to record your wine movements.