Virginia Cannabis Accounting Firm
Virginia Cannabis Accounting Services
Finances have always been a tricky matter for cannabis businesses. The slow movement on federal legalization means that many larger financial institutions are uncomfortable or unable to provide financial services to cannabusinesses. At the same time, the complex and demanding web of regulations requires precise and transparent money management.
Cannabis businesses are expected to do more with less, such as keeping flawless records with fewer tools. We know how challenging this can be for cannabusiness owners, especially when you already have your hands full running a growing (often rapidly growing) business. 420 Accounting Services is dedicated to providing the financial services, training, and compliance your team needs to stay on the ball and meet all your operational requirements.
Virginia CPA for Cannabusiness
Every Virginia cannabis business needs a good CPA and a comprehensive financial strategy. The challenges of handling an all-cash business with limited banking options, maintaining compliance, and keeping your team trained on the rigor needed to maintain these systems are inherent to the industry. Fortunately, you don’t have to face it alone. Your Virginia cannabusiness can thrive with the help of an experienced cannabis CPA.
Here’s what we can do for you:
Management and Accounting
Our Virginia cannabis CPA team can ensure that you have the tools, resources, and guidance you need to manage your finances and accounting. Managing the financial side of a cannabusiness is unusually challenging, and we’re here to help you balance the scales with capable financial services. We can help you:
- Manage a Cash Business
- Set Up a Custom Accounting System
- Handle Tax Computations
- Prepare for Investors
Training and Consulting
Running a business is never easy, and no one starts out knowing everything. 420 Accounting Services can provide high-level technical and non-technical consultation on what it takes to run a cannabusiness. We can train your employees to use compliance systems, handle cash safely, and even complete non-financial cannabis training. While we offer these mentioned training options, we can also provide consultation for:
- Systems/Software Selection & Set Up
- Banking Solutions
- Responsive and Dedicated Support
Compliance Mitigation
Compliance is the single biggest issue in managing a cannabis business. A cannabis producer or retail license is precious and must be maintained with a rigorous dedication to compliance. With an evolving legal landscape and the regular release of new regulations in most cannabis states, cannabis businesses work extremely hard to remain in compliance. Here’s how we can help.
- Cost Accounting (IRC 280e and IRC 471)
- State & Local Tax Filings
- Licenses and Permits
- Exhibiting Proactive Cannabis Compliance with:
- Preventative measures
- Corrective measures
- Regularity and Oversight
Cannabis Businesses We Work With Within Virginia
Your cannabis business needs accounting services that understand the unique demands of the industry and the challenges of working in a highly regulated and under-banked market. 420 Accounting Services can work with Virginia cannabis businesses at all levels of the supply chain, including growers, distributors, and processors.
GROWERS
Growers require complex systems to maintain Seed-to-Sale tracking and compliance alongside the usual financial needs of any business. We can ensure that cannabis growers in Virginia have access to the resources, banking, and financial guidance necessary to thrive.
DISTRIBUTORS
Cannabis distributors are essential to the industry, ensuring that cannabis makes its way from local growers and extractors to retail locations. You require a deep understanding of the local, state, and federal laws to maintain compliance and a healthy budget. We can help.
PROCESSORS
Cannabis processors take the raw cannabis plant material and process it into extracts and edibles. They make cannabis more accessible to people who otherwise would not be able to consume marijuana. In addition, they provide an environment where manufacturers can produce safe and compliant products. We offer our clients the ability to easily obtain the space needed to manufacture their products, and help them stay within legal boundaries.
Virginia Cannabis Accounting Services
Virginia cannabusinesses have done incredibly well building a market and foundation for future cannabis growth. However, each cannabis business must strive to maintain its compliance and financial organization in the face of limited resources and evolving regulations. As financial experts specializing in the cannabis industry, 420 Accounting Services is here to help. With access to local banks and credit unions opening up banking options for cannabis businesses, we can connect you with the resources and skills your team needs to stay on top and keep growing.
Contact us today if your Virginia cannabis business could benefit from business accounting and financial services, regulation-ready training for your team, or a partner in compliance mitigation. We would be honored to help your team thrive.