cannabis accounting

Cannabis accounting involves managing the financial records and transactions for cannabis businesses, which face unique challenges due to legal restrictions and banking limitations. It includes tracking sales, expenses, inventory, and taxes accurately while adhering to state and federal regulations. Specialized software and procedures are used to ensure compliance, prevent fraud, and provide clear financial reports. Proper cannabis accounting helps businesses operate transparently, prepare for audits, and demonstrate financial health, all while navigating a complex legal environment that often restricts access to traditional banking services.