+ financial record keeping

Keeping consistent and accurate financial records is absolutely paramount to both running a profitable business and staying complaint with the state. If your books are in disarray or you’ve never kept good records, our CPAs can help you comb through your past financial records and put together an orderly system to help your financial management. Ideally, we would eventually on-board you to an accounting/bookkeeping software.

+ quickbooks

Quickbooks (one time set-up, monthly recurring or training): By far the most popular 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 and allows transactions to flow smoothly through the system. We also offer monthly recurring 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

Xero (one time set-up, monthly recurring or training): An excellent software for the cannabis industry, 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.

+ other

There is no shortage of 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

+ financial audits

Audits are often a requirement for businesses looking to get financing in debt or equity. Indeed, many business owners find the process gruesome, lengthy and tiring. By contracting a CPA firm focused solely on the cannabis industry, you will likely reduce your headache – after all, our staff is already familiar with the market environment, common financial transactions and regulatory hurdles.

+ regulatory & operational audits

Many businesses in the cannabis industry are understaffed and have very flimsy internal controls as a result. Poor internal controls can lead to missed profits, loss of license or exposure to fraud. Greenbooks is happy to provide a full operational audit for your business including suggestions to bring your internal controls to a level of compliance required by Sarbanes-Oxley

+ cannabis finance experts

Having a strong team of accountants by your side is a relationship business owners almost never regret. Aside from the traditional services a CPA firm provides, we also look to bring our financial expertise to the cannabis industry in the form of financial projections and modeling. These projects tend to be very client specific, but some examples of what we’ve done in the past include

+ projected profit & loss statements

Are you interested in where your company is going to be in 1 year from now? How about 5? Although many businesses in the marijuana industry are simply trying to keep their above water dealing with the ever changing regulations, it is important to ask about the future. Also included in this is feasibility models – interested in taking on an entirely new venture? Want to add an entirely new revenue stream to you thriving business and curious on the bottom line impact? These are all questions that a projected profit and loss statement can answer.

+ scoreboard & benchmarking

Using a variety of industry metrics, Greenbooks will “grade” how you perform on certain metrics compared to similar businesses in the marijuana industry. If you are a local distributor, how does your gross profit margin compare against other local distributors in the state over? How about the whole country? This type of analysis tends to show businesses where their strengths and weaknesses lie and opens a channel of improvement.