Cannabis Accounting Services
Accounting and Bookkeeping for Dispensaries and Cultivators
We offer complete cannabis accounting services and bookkeeping solutions for dispensaries, cultivators, and other cannabis industry businesses. Whether you are a start-up, a growing business, or a multi-state operator, Green Space Accounting can help you along with an intimate knowledge of cannabis rules and regulations. From payroll needs to balance sheets, income states, and more, we’ll put your business in a better financial position. Continue reading to learn more about our processes, the specific services that we offer in the cannabis space, and how we can help your company thrive.
Your Outsourced CFO
Comprehensive Cannabis Accounting Solutions: With our complete solutions, you’ll receive income statements, balance sheets, general ledger cleanup, and consultations with our team each month or quarter, as needed. These solutions will form a solid foundation for your company’s accounting system. You also can customize the package of services you receive by adding cannabis payroll, tax planning, tax preparation, or any other services we offer.
Here are some additional ways Green Space Accounting can help your cannabis business:
- Identify lost checks, lost deposits, and unauthorized wire transactions.
- Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
- Detect and prevent embezzlement of funds from within your company.
- Account reconciliation and financial statement preparation.
- Cash flow management.
- Management of escrow funds, accounts, checks, and disbursed funds.
- Revenues and expense tracking.
- Determine what areas of your business are over-budget or under-budget.
- Identify specific items that are causing unexpected expenditures.
- Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
The Complete Guide to Cannabis Accounting
Click below for complimentary access to our e-book that covers proper cash flow management, payroll, and bookkeeping practices for cannabis companies.
Keeping detailed financial records for your dispensary will ensure you’re able to maintain your license, banking, funding and decrease your risk of an audit. We will develop a customized plan to keep your expenses in line and maximize profits.
Our dispensary bookkeeping service will help you with:
What is Dispensary Bookkeeping?
Dispensary Bookkeeping is the means to manage and record finances for retail cannabis stores. This involves maintaining day-to-day records, preparing financial statements, and tracking invoices and expenses. Through bookkeeping, dispensary owners can better understand their profits, identify areas of improvement, and be more prepared for tax season.
Why is it Important?
With cannabis’ gradual legalization across the United States, many rules and regulations are unique to the industry. The complexity of the industry makes it difficult for business owners to track finances while remaining compliant with their state’s legislation. Luckily, our highly trained professionals are well-versed in cannabis laws to help you manage all of your financial and compliance needs!
Cannabis Accounting Resources
Book a 30-minute consultation with our team today and start on your path to compliance and sustainable success.