Cannabis Accounting Inc.

Don't let taxes burn your marijuana business!

Getting the score keeping right -

Most people hate accounting and dealing with the issues and organization required to keep track of their business.  And many of our clients are first-time business owners who do not understand how to setup their business correctly, get organized and stay on top of what is going on with their finances.  It is so important to understand trends and make adjustments to your business so you can adapt to fast-changing environment in the industry and the best way is effective tracking of money and resources.  Even if you have been in the industry for years, we can help you with industry-specific systems that do not require expensive or complex accounting software to keep track of what the money is doing.

For businesses that grow in volume and sophistication, we do offer accounting software support and sales; we are an Intuit Quickbooks Pro Advisor who can give you the support, answers and training required to use this tool efficiently.  Whether you are a new user who needs a turnkey ready-to-go company file or are a power-user who just needs some occasional help, we provide the expertise to make using Quickbooks easy.

We also provide monthly, quarterly, semi-annual and annual bookkeeping services, so you can completely outsource this part of your business.   Owners can focus on what the do best: help patients improve their quality of life while keeping up what is happening with the day-to-day operation and make adjustments as the business climate dictates.

Internal controls -

It is always good to trust employees, but it is always best to have procedures, checks and balances to make sure what you earn stays in the store.  As former government auditors, we can do a thorough analysis of your retail and/or wholesale business processes and make concrete suggestions on how to check and make sure inventory and cash are properly handled and accounted for by staff and management.  The medical marijuana industry is rife with internal and external theft and cash diversion at rates much higher than regular retail outlets; make sure you have to best practices in place to keep on top of your earnings.

Cost Accounting -

How much does it really cost to make a gram?  Many producers use outside metrics to guess at what their costs are for each unit of product sold, but every production facility is different, depending on state laws, technology used and grower technique.  To flourish in a crowded market, you need to remove as much cost from your products while maintaining quality in the finished product.  We come from a manufacturing background and can help identify cost centers, bottlenecks, optimal payment terms and allocating capital investments in order to lower production dollars and increasing gross margin.