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Ep. 36: Small Firm's Guide to Cannabis Bookkeeping

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station description The DOPE CFO Cannabis Accounting Podcast discusses the ins and outs of cannabis/cbd... read more
The Cannabis Accounting Podcast by DOPE CFO
Duration: 46:45
The Cannabis industry is growing at a blindingly rapid pace -- so much that we refer to it as the “Green Rush.” Medical Cannabis is now legal in 33 states and recreational Cannabis has become legal in 11 states. That is a $20 billion dollar-market -- and it’s likely only going to increase with pendi
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The Cannabis industry is growing at a blindingly rapid pace -- so much that we refer to it as the “Green Rush.” Medical Cannabis is now legal in 33 states and recreational Cannabis has become legal in 11 states. That is a $20 billion dollar-market -- and it’s likely only going to increase with pending federal legislation taking steps to legitimize the $70 billion “illegal” market.
Imagine...all these Cannabis companies and CEOs jumping into the green rush and realizing just months down the line that bookkeeping is SERIOUSLY complicated. That’s where you come in.
Because Cannabis is so highly regulated and predominantly a cash-only industry, tax codes, deductions, sticky software integrations, and poor vendor-business relations are just a few of the major pitfalls Cannabis business owners find themselves stumbling over.
During this podcast we discuss the main Cannabis bookkeeping issues CEOs face and the opportunities you have to supply expert solutions to keep them compliant with IRS, federal, and state regulations. Main topics covered include:
🌱 Understanding holes and hurdles in vendor-business relations and how to develop solutions to bridge the gap
🌱 Accessing and integrating effective tools to integrate complex software systems
🌱 Devising “manual” accounting systems to compensate for the lack of effective and streamlined Canna software
🌱 Providing GAAP guidance and developing workarounds to navigate the lack of Cannabis industry resources
🌱 Preventing downtime and smoothing buggy software infrastructure
🌱 Following annual, quarterly, monthly, weekly, and daily procedures for Cannabis bookkeeping
🌱 Offering a high-demand service to businesses who need your expertise to stay afloat
Want more tips, tricks, and support as you dive into the Cannabis bookkeeping industry? Make sure you subscribe today to The Dope CFO Cannabis Accounting Podcast at Anchor.FM for biweekly podcast episodes on Cannabis and CBD accounting and bookkeeping -- and everything in between!

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