Words matter. In accounting, knowing the correct terms can save time and create clarity. Here’s a fantastic list of accounting terms from QuickBooks.

Hiring a cannabis accountant during the pre-revenue phase is not just a prudent decision but a strategic imperative. By addressing regulatory compliance, budgeting, tax planning, financial reporting, and record-keeping early on, dispensaries can establish a solid foundation for long-term success and growth. In the complex world of cannabis business, a knowledgeable accountant is an invaluable asset that goes beyond crunching numbers — they become a key partner in navigating the intricacies of the industry.

Cash compliance in the cannabis space is the elephant in the room and it’s not for the faint-hearted. Owning and operating a cannabis vertical isn’t like any other small cash business you may be familiar with.

An interview with Bincubate and Allison Kirchhofer, CPA, MBA and founder of Accounting by Design and the New York Consortium of Cannabis Accountants, about the importance of incorporating accounting principles and practices into every aspect of your small business—and not just at tax time.