CANNABIS ACCOUNTING SOLUTIONS
Accounting, Tax & Financial Services for Cannabis Companies
We know that the accounting needs for each business or license are unique whether you are a cultivator, a manufacturer, a distributor, or a retailer. That is why we have all your cannabis accounting needs in one place. Contact our team to learn more about the importance of a cannabis accountant.
Verify, record, analyze, and provide insights to cannabis operators and company stakeholders to assist in profitable decision making.
A team of dedicated Accounting & Bookkeeping professionals in the cannabis industry will maintain a proper record of daily and monthly transactions to keep your cannabis business perfectly balanced.
We provide cannabis-friendly payroll solutions for your canna business. Our team will perform the necessary steps to ensure payroll is processed on time and implement a seamless process to ease your Company’s payroll burden and limit its responsibilities.
Apply proper accounting policies and procedures for marijuana and hemp businesses using advanced cannabis inventory management techniques that are tailored to your needs. Implementing an effective inventory management system increases your chances of profitability and survival.
Provide key financial statements and management reports to anticipate unpredicted disruptions in the cannabis market and help you make informed business decisions based on the company’s financial health
Creating a financial plan for medical and recreational cannabis needs a unique understanding of the industry. Our experienced professionals create and implement a sound planning and budgeting process to establish more accurate financial reports and analytics for your cannabis business — potentially leading to more accurate forecasting and ultimately revenue growth.
Train, consult, and provide customized solutions to maintain consistency and carry on day-to-day Cannabis activities smoothly.
We apply our years of experience in cannabis accounting to provide in-house and in-person training on how to use Cannabis Track and Trace Systems and remain in compliance with these systems’ tracking and reporting requirements.
To ensure your canna business is always performing at its best, we provide license specific Chart of Accounts, help with onboarding, set up a perpetual data room, initiate a clean-up process, or set up a new accounting software (QBO, Xero).
At 420 Accounting services, we can help you gain quick access to Cannabis banking institutions, set up a business account, and build a reliable financial structure to avoid any undesirable theft, embezzlement, or fraud
Starting up and maintaining a canna business can be overwhelming. Our cannabis CPAs can offer you advice and valuable documents and templates to lead by example and implement custom-made industry-specific and business compliant key controls, KPIs, and standard operating procedures.
Mitigate the complications of the cannabis industry rules and regulations and the limited support from the corresponding agencies.
We reasonably allocate costs out of expenses and adequately calculate your cannabis COGS. We also verify inventory value accuracy and perform cost accounting by thoroughly following the applicable regulations and limitations of IRC 280e and IRC 471.
Cannabis tax filing requirements, rules and regulations cause many challenges for many cannabis operators. That is why you need knowledgeable experts to provide an in-depth guide on what is eligible to be taxed, whether on state and federal tax returns, or cultivation and excise tax forms. Our team of CPAs can help you with year end tax planning, tax preparation, and tax filing.
As cannabis accounting specialists, we prepare and submit all the required documents by state and the corresponding local cities for obtaining any commercial cannabis license; from cultivation, manufacturing, distribution, to transportation, micro business and retail.
We customize our industry best practice internal controls and SOPs to your cannabusiness’s specific needs and provide your business with a process to assure whether your company’s objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies are all met.