cbd accounting solutions

Xero is often considered easier to use and more powerful once mastered over Quickbooks making this the second most popular bookkeeping software for those in the marijuana industry. We can perform a one-time set up for this software to fit your specific business needs. In addition, we can provide training to you and your staff or, if you would like to outsource this tedious task entirely, we are happy to provide monthly services for all your Xero needs.

Keeping a clean set of books is a requirement in the modern day cannabis industry. Cannabis businesses that do not have a solid tax and accounting understanding of concepts such as section 280e and cost accounting are sure to be less profitable compared to those that do. Cannabis companies have specific accounting and tax questions that many accounting firms are struggling to answer. Working with a CPA firm which offers accounting services exclusively to the cannabis space is a huge advantage for many of our clients. Ultimately, keeping a clean set of books is the key to good tax planning and securing funding. Make no mistake about it, well kept accounting records will save you cash and headaches; both short and long term. Why not let the professionals do it?

By far the most popular cannabis bookkeeping service, Quickbooks offers accounting versatility that is ideal for many in the marijuana industry. Whether you are a small cultivator or a large distributor, our accountants will help set-up and maintain a chart-of-accounts that makes sense for you. This will allow transactions to flow smoothly through the system. We also offer monthly recurring cannabis bookkeeping services, freeing up your time to allow you to win more business. If your team needs training or consulting on this software, we can provide that as well!

+ Xero (one time set-up, monthly recurring or training.)

There is no shortage of cannabis accounting and bookkeeping software for small businesses – indeed the cannabis industry is reported to use at least 100 different variations. Nevertheless, having a team of CPAs familiar with the cannabis industry to guide you through setting-up transactions and creating flawless financial statements is an invaluable asset. We are here to service you no matter the software

Working with Greenbooks means that you will have a cannabis accounting firm at your side entirely dedicated to cannabis. If you choose to skimp on the quality of your accounting, you are sure to run into problems at some point. Consequences include paying way more in taxes then you should have, going through painful audits with IRS and state governments as well as fundamentally misunderstanding the profitability of your business. It pays to do it right.

Specific cannabis accounting services we offer:

Cbd accounting solutions

Processes and controls to minimize the risk of fraud.

Accounting Team Support

If I were to embezzle money from your company, this is how I would do it… As an outsourced accounting service, one of our key roles should be to ensure that we can follow the money. Understanding how to prevent embezzlement is key for every business, no matter the size….

3 Reasons Your Company Could Be at Risk for Fraud

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Cbd accounting solutions

Although it is a relatively new product CBD oils have been found to provide some interesting medical benefits including:

We specialize in providing comprehensive cannabis accounting services. We have the skill set and experience among our staff to deliver high-quality solutions that can help you navigate Section 280E and start your journey toward a more lucrative, stable financial future.

What Are the Benefits?

If you are starting a CBD oil business or have already established a business and need help navigating the sometimes murky financial waters of your industry, contact us today. We can help your brick and mortar location or your online location or both. However you sell your products, your greatest asset is a knowledgeable, professional accountant. Reach out to us today!

One of the more interesting developments over the last decade is the rise of CBD oils. Accounting standards and precedents are being established, as with any emerging market, but one of the interesting things about the CBD oil industry is that it is emerging from a substance that is considered illicit by many federal law and many state and local governments. But CBD is gaining traction because it provides the benefits of cannabis without the psychoactive impairment related to cannabis. GJR Consulting is a cannabis and CBD accountant that will handle your financials professionally with an eye to making sure your business is entirely legal and compliant.

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Some studies suggest that CBD oils can help with mental disorders, substance abuse treatment, diabetes prevention, and the prevention of tumors.