Cannabis Accounting Service

From seed to sale, it is critical to get your accounting books right the first time. Remaining in compliance takes a knowledgeable accounting team like CFOshare.

Why Outsource Accounting?

You may have begun by keeping your own books, but cannabis accounting should be left to professionals. Special focus, knowledge, and industry expertise is needed to adhere to the legal parameters at both the state and federal level and our outsourced accountants can help.

Outsourced Accounting Services

Investors care about your business success. They also have opinions (often different from your own) about what success even is. The best investor relations strategies build confidence in YOUR leadership and business plan while remaining open to valuable input from investors. Your investor relations duties include:

Cannabis Bookkeeping Tasks

Record financial transactions
Prepare and send business invoices and receipts
Process accounts payables and vendor payments
Perform customer collections
Reconcile bank accounts and credit card accounts

Cannabis Accounting Tasks

Recognize revenue, costs, and other complex accruals
Categorize 280e costs properly to avoid overpaying taxes
Prepare financial statements, including cash flow reports
Analyze the cost of operations
Understand how financial decisions impact other areas of the business
File sales taxes
Present the CEO with useful financial insight

What can outsourced accounting do for my cannabis business?

The issues confronting growers, distributors, retailers/dispensaries and other ancillary services are complex and do not stop at regulations like 280e. At CFOshare, we are your outsourced accounting and bookkeeping team helping you tackle the complexities of the industry.

Accounting System Set-up

Have you been keeping your books in default QBO accounts, in excel, or not at all? The experts at CFOshare can assess your accounting needs and help implement the right solution.

Banking

Use relationships already established by our CFO’s to transact business and access capital.

Cash Flow Management

Always short on cash? We employ industry best practices to manage your cash flow and get you out of desperate month-to-month management.

Inventory Management

Know how much you have on hand, what it is valued at, and how to properly account for it.

280E Planning

Maximize your Cost of Goods Sold with an outsourced accounting expert. When managed properly, you can minimize income taxes from section 280E.

Internal Controls

Avoid being robbed by hackers and employees. Keep your business running efficiently while mitigating fraud risks.

Investment Management

Cannabis is attracting a multitude of investors. CFOshare will track the incoming investments and accounting for them according to GAAP rules.

We are not your typical accounting firm - we are your team of accounting experts.

Pair your outsourced strategic accounting team with our Fractional CFO services to plan and strategize for the future.
Consult with one of our experts today.

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