CANNABIS ACCOUNTING
BOOKKEEPING NOT ENOUGH ANYMORE? ARE YOU OUT OF YOUR DEPTH WITH THE ACCOUNTING ASPECT OF YOUR BUSINESS? DO YOU HAVE COMPLICATED ACCOUNTING METHODS REQUIRED FOR YOUR BUSINESS? WE CAN HELP!
What is cost accounting for cannabis?
Cost accounting for cannabis is a specialized area of accounting that focuses on capturing and analyzing all the costs associated with cultivating, manufacturing, and distributing cannabis products. It's crucial for cannabis businesses because it helps them understand their production costs, price their products accurately, and maximize profitability.
Key aspects include tracking direct costs like seeds, soil, and labor, as well as indirect costs like utilities, rent, and depreciation. It also involves dealing with complex regulations, such as IRS Section 280E, which prohibits cannabis businesses from deducting normal business expenses.
By leveraging cost accounting, cannabis businesses can make informed decisions, optimize operations and navigate the unique financial challenges of the cannabis industry.
Accounting Services:
For the Established Cannabis Business
Our accounting services are designed for established cannabis businesses that are ready to take their financial management to the next level. If you're a business with a steady stream of revenue and complex financial needs, our accounting services can provide the strategic insights you need to make informed business decisions. We handle everything from accruals and lease accounting to cost accounting, providing you with a comprehensive understanding of your financial position.
Our accounting services start at $1500 per month, which includes everything in our bookkeeping services plus accrual accounting and lease accounting. For $2000 per month, we add in cost accounting and inventory management. And for businesses that need a full suite of accounting services, our $3000 per month package includes everything in the Growth package plus tax planning and preparation. With our accounting services, you can confidently navigate the financial complexities of the cannabis industry and focus on growing your business.
be. dope.
