The Quick Guide to Cannabis Bookkeeping

An informed, Cannabis-trained bookkeeper knows the specific processes and procedures that need to be in place to keep the businesses they work with aligned, compliant, and set up for growth and success. Bookkeepers who do not know how to properly support Cannabis companies can lead to big mistakes with dire consequences. Even handling seemingly mundane tasks the same way they would for non-Cannabis clients can be a move in the wrong direction. Cannabis booking is unique. Doing it properly requires knowledge not guesswork. For starters, Internal Revenue Codes 280E, 471-3, and 471-11 need to be understood, and correct cost accounting needs to be performed for these businesses. It’s a quick episode but one that’s packed with quality information, so take a listen.