Proper cost accounting is essential for all Cannabis and hemp verticals, but it gets particularly tricky when you're dealing with cultivation. From the moment a seed is planted in the ground to the harvest of the crop, high-level accounting procedures are mandatory to keep cultivation companies compliant.
Cannabis growers tend to be uninformed as to the importance of proper accounting. Often focusing more on the science and passion of growing, they have little patience for numbers. Because the growers take such pride in their operations (and need to be educated on the processes and regulations required to keep those operations compliant with the IRS), you may have to work harder to prove the necessity of sound accounting practices.
Cannabis and hemp both require different approaches to monthly accounting and year-end taxes. Cannabis is federally illegal, although more than 30 states have licensed businesses to sell legal medicinal and/or recreational marijuana. Hemp has...
So you’ve decided that you want to take the plunge and dive into cannabis accounting. Great!
While these are new and exciting times, it is completely understandable if you have concerns about promoting your business within your personal and professional networks.
People have their opinions about the cannabis industry; some good, some bad. But don’t let that get in the way of promoting your business and becoming an expert.
The truth of the matter is that in order to be seen as an expert, you have to put yourself out there and dive in completely in order to maximize your efforts in this industry. So if you’re hiding out for fear of judgment, we’re here to help.
1. Have an updated LinkedIn profile.
When you’re first getting started with marketing your cannabis accounting business, you don’t have to have it all figured out. You don’t need to build a fancy website or order business cards right away. Over the past few years, LinkedIn has become an...