How To Take Control Of Your Cannabis Inventory Management 

Cannabis inventory management

Cannabis companies need to organize their inventory to record and track for tax purposes. Without recording proper inventory in line with regulatory standards, fees can occur from regulatory authorities.  Establishing an organized cannabis inventory management system can put businesses on the right path to avoiding those fees.  If you’re a cannabis facility or a dispensary […]

Top 5 Cannabis-Friendly Banks To Partner With And Facilitate Financial Relief

top 5 cannabis friendly banks to partner with

The regulations surrounding cannabis prohibit many businesses from doing business with normal financial institutions, leading private and cannabis-friendly banks to offer creative solutions for these companies.  Considering the standard regulations surrounding the plant, cannabis businesses need to maneuver around the cash-handling problem to protect their finances by finding the best cannabis-friendly banks to partner with.   […]

Navigating IRC 471 Cannabis Cost of Goods Sold: Optimizing Your Finances

Navigating IRC 471 Cannabis Cost of Goods Sold Optimizing Your Finances

There are several companies in the cannabis industry looking for tax breaks, loopholes, and strategies to optimize their finances.  If you’re one of these companies then you know how crucial it is to increase and direct your revenue in the right areas of the business due to the high costs placed on the business by […]

What Is Marijuana Banking?: A Comprehensive Guide 

What is Marijuana Banking

Banking influences cannabis companies in the industry due to the illegality of the marijuana plant. Many businesses doing business with the plant have restrictions surrounding banking that limit the financial resources available to them.  As many of you know, marijuana banking is the act of providing financial services to cannabis companies to ensure they keep […]

Mastering Cannabis Financing: A Complete Guide To Financing Your Growth

Mastering Cannabis Financing A Complete Guide to Financing Your Growth

Cannabis financing is a critical subject due to the regulatory standards surrounding the cannabis plant itself. Some cannabis companies have a hard time getting proper financing for their business operations to ensure they scale properly.  Knowing how to find the right cannabis loans and financing opportunities requires any business in the industry to follow strict […]

Cannabis CFO: The Crucial Role Of CFO Financial Mastery In A Green Economy

Cannabis companies around the U.S. work closely with accountants, bookkeepers, and CFO professionals. It’s common for businesses to work alongside CFOs due to the unique services they provide.  A cannabis chief financial officer (CFO) provides a more strategic focus to businesses by working with investments, risk management, and strategic planning. They support the business finances […]

SAFE Cannabis Banking Act Fosters Stability In The Industry To Secure The Future

SAFE-Cannabis-Banking-Act-Fosters-Stability-In-The-Industry-To-Secure-The-Future

There is a consistent change within the cannabis industry forcing several cannabis companies to stay ahead of these changes to minimize compliance issues.  The cannabis banking act or the Safe Banking Act is a 2023 bill awaiting approval from the federal government to create protections for financial institutions serving state-sanctioned cannabis businesses and service providers […]

Seed-to-Sale Software: The Accounting Advantage of Seed-to-Sale Software in Cannabis

Seed-to-Sale Software: The Accounting Advantage of Seed-to-Sale Software in Cannabis

The software is an essential tool to maintain for many cannabis operations wanting to automate and minimize accounting accidents.  A seed-to-sale software system tracks sales, monitors cultivation operations, and processes these tasks for optimal inventory recording. It’s an inventory control system allowing cannabis operations to streamline their entire product line from start to end. Keeping […]

Do Dispensary Employees Pay Taxes?

do dispensary employees pay taxes

As we all know, the industry throws us a curve ball every so often and taxes are no exception. Compliance regulations are especially cumbersome to taxes and businesses, like dispensaries, have to follow these regulatory guidelines.  Not only dispensaries but their employees must follow the same regulatory compliance rules. Dispensary employees pay their taxes by […]

Comprehensive Guide to Medical Marijuana Accounting: Best Accounting Practices

Comprehensive-Guide-to-Medical-Marijuana-Accounting-Best-Accounting-Practices-1

Cannabis businesses are met with several regulatory challenges due to the strict standards the laws set forth.  Conducting accounting for medical marijuana companies isn’t exempt from these regulations and knowing how to utilize accounting procedures can save the business time along with money.  Accounting requires a methodical way to navigate the taxation laws in the […]