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Cannabis Accounting Software Issues

CANNABIS ACCOUNTING SOFTWARE ISSUES

Cost Free
Presentation Length 1.0 hour

Recorded DateJuly 22, 2019
CPE:Not available
(archived webinars do not offer CPE credits)
Course LevelBasic
Course Description

The cannabis industry lacks viable software solutions. A lack of cannabis friendly software solutions have posed many challenges to accounting professionals, owners, operators, and investors. Without centralized software solutions that integrate and speak to one another, it makes it extremely difficult to build monthly, quarterly, and yearly reporting that are required at the state and federal level. These reports include required bank reporting, consolidated financials for investors and lenders, and others. Cannabis accountants often have to hire extra staff or work long hours to do the laborious work that software should be able to streamline. This cuts into their bottom line and the lucrative opportunity of the cannabis niche market.

Learning Objectives:


  • A few software systems to keep an eye out for due to recent significant financial backing that could make them elite solutions in a few years.

  • Workaround solutions including POS systems, Payroll solutions, reconciliation ideas and more. Plus, some operation solutions to address communication, data storage and project management needs.

  • Working with state mandated software such as Metrc and the difficulty in matching them to the accounting that you have to cobble together from spreadsheets, software workarounds and good-old-fashioned ‘accounting-by-hand’.

  • A few suggestions that may work for your chart of accounts based on what we have developed for cultivation, extract, edibles and retail as part of our cannabis accounting system.

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Andrew Hunzicker, CPA

DOPE CFO
Founder and Owner
[email protected]
(405) 990-4370

Dopelogo

Andrew founded DOPE CFO and is an expert in cannabis startups, CFO services, turnaround and high-growth strategies, capital sourcing, mergers, exits, and wealth protection. He has served in the "Big 4," including PriceWaterhouseCoopers, and is the winner of the 1995 Gold Medal Award for the CPA exam’s highest score. Andrew was runner up for Portland Business Journal's CFO of the Year in 2017, making him the first cannabis CFO ever to be nominated.

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Nacatpros 3

A former “Big 4” accounting professional, Naomi has over 12 years of experience in both public accounting and industry accounting. She has managed large global teams responsible for planning, performing and managing audits of financial statements and internal controls over financial reporting. Noaomi was featured in MJ Biz’s Jan 2019 issue in their "Women to Watch" section.

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Will Lopez

Gusto
Head of Accountant Community
[email protected]

Gustologo

As the head of Gusto’s accountant community, Will advocates for, and helps identify more opportunities for accountants, bookkeepers, and other advisors to better support small businesses. He is inspired to build a community that can be a voice for small business owners and their transformational advisors to can create more value together. Through a deeper partnership with Gusto, a new era will begin where accountants at every level will be valued for all the hard work they provide to the clients who trust them most with all things people.

About Our Presenter

Dopelogo
DOPE CFO is a nationally recognized training program for accounting professionals looking to service cannabis businesses. DOPE CFO provides access to cannabis businesses with trained accounting professionals that understand their specific needs.