Accounting For The Cannabis Industry

Our focus on cannabis based businesses allows us to offer the most comprehensive marijuana accounting solution on the market. Our biggest concern is keeping your accounting in compliance with local and federal rules and regulations, while saving you time, effort and money. This is why we have meticulously honed our 3-Phase, 9-Step process, aptly named the Path to Cannabis Accounting Enlightenment. Our in-house accountants help to keep you in operation by watching for regulation and procedure updates as they become available. As updates happen, we adjust our work flow to ensure we are working within the bounds of the law while keeping your tax bill as low as possible.

We are not your typical accounting firm. At CannaComply, we set fixed fees in our engagement letter and honor them, we welcome open communication and do not charge you extra to talk on the phone or email, and we always keep you in the loop. We are more than a professional service company, we are your accounting partners.

Our accounting services include:

• Accounting and document management software
• Account reconciliations
• Accounts payable and accounts receivable
• Analysis of floor plan, payroll, and operating costs in compliance with IRC280E and IRC471
• Bank Audit Support
• Financial statements including Profit and Loss and Balance Sheet
• Financial and Non-Financial KPI Dashboard
• Process development and documentation
• Seamless transition from Quickbooks to Xero
• Sales, use, and excise tax preparation and payment

Cannabis Payroll Services

Are you spending too much time and money handling payroll? As a small business owner, you may be tired of doing data entry, remembering tax deadlines and completing yearly worker’s compensation audits. Why waste precious time and energy learning how to do payroll, when you can rely on CannaComply as your payroll experts? At CannaComply, we know the importance of reliable support, government compliance and ease of use of payroll services for the small business owner. We work with you to save you time and money with your payroll processing.

Our payroll service includes:

• Payroll calculations for your employees and contractors
  • Prepare and remit direct deposits for employees and independent contractors
  • Provide PDF to management for checks printed on-site
• Payroll Tax Form Filing and Tax Payment
  • Prepare federal and state payroll tax forms as required
  • Prepare Form W-2 and W-3 at the end of the year
  • Prepare Form 1099-MISC for all contractors
  • Calculate and remit federal and state payroll tax deposits each month
• Compliance
  • New Hire Reporting
  • Everify
  • Garnishment- Collection and Payments
• Employee Self-Service
  • Online access to paystubs and tax forms
  • Payroll self-onboarding

Cannabis Compliance

We know that when it comes to running a dispensary or cultivation facility, it is not “if” you will be audited, but “when.” We give you the tools you need to successfully pass a banking or financial audit with the Marijuana Enforcement Division, or your local regulatory agency. We provide you written Standard Operating Procedures, in an easy to read format, that map out every aspect of your financial operations, so not only you and your staff, but a compliance officer, can understand how every penny is handled.

Compliance doesn’t stop with the financials. We also recommend that you work with a compliance firm, other than CannaComply, to ensure that you are operating within the bounds of the law for your day-to-day operations. Our compliance partners will review your business practices across the board, apply changes, and deliver written processes, so that when an auditor makes a visit, your risk of penalties is reduced dramatically. Let us connect you with a compliance specialist, so you can continue to grow.