As we know that financial institutions and banks do not want to work with corporations which are linked with marijuana. Federal Government has given the green signal to banks and other financial institutions to conduct business with marijuana businesses but as marijuana is not legalized yet, banks fear to get involved with such corporations. Plus, you have to hire someone to do fundamental accounting for cannabis collectives. He can either be an independent CPA or a certified firm and they may be able to get you a bank account using their expertise and contacts in the industry.
Your financial planning and financial management will be well looked after by the firm hired by you. And if u do not get a bank account for any reason, they will help you to manage your cash and cash flow. To keep a record of your finances, expenditures, incomes and profits or losses of your corporation, accounting for cannabis collective is required and recommended.
Your taxation and account auditing will be done by the accounting firm that you appointed to work for you. To keep your business safe and keep yourself out of any legal difficulties, an experienced CPA is what you need to appoint to perform necessary accounting for cannabis collectives.
If you are wondering how to open a medical cannabis business, then take our cannabis business workshop at California college for cannabis, in San Diego, Pasadena and Sacramento; Our attorneys and industry leading network of professionals will be hosting a to go over all aspects of cannabis business licensing, start-up and operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical cannabis business start-up seminars or one-on-one consultations are perfect way to get started!
You get an intense 2 days of advanced information about how to start and operate a medical cannabis business in California. Find out how 420 College 2 DAY seminars can help you in your business, click here.