Due to the complex legal and regulatory environment surrounding the cannabis industry, CBD accounting is particularly challenging, and it requires specialized knowledge and expertise.
How we help CBD Businesses
CBD businesses faces issues include managing cash flow, reconciling banking transactions, complying with state and federal regulations, and navigating the tax implications of selling cannabis-related products.
Additionally, CBD businesses must maintain strict compliance with the financial reporting requirements set by the Financial Accounting Standards Board (FASB) and the Securities and Exchange Commission (SEC).
To handle these challenges, we work as experienced accounting professionals who specialize in the cannabis industry. We manage complete accounting, tax compliance, and financial management strategies that can help CBD businesses stay competitive and profitable.
CBD accounting requires specialized knowledge and expertise due to the unique regulatory environment and tax implications. We specializes in CBD accounting with team of professionals with this expertise.
We have worked with several clients providing monthly reconciling of high-risk merchant accounts from Paysafe, Humbolt, Synovus, Quantum, and F1 and also managing their chargebacks
We prepare chargeback reports on a daily basis. In this, we download the chargeback data from Portal & then prepare reports in a specified template so that chargeback letters can be prepared from this & further action can be taken.
We daily prepared chargeback letters & submit them to merchant accounts on time to ensure chargeback cases do not expier.
In this, we calculate the ratio for MTD & YTD for below-
The ratio for the number of chargeback transactions/number of sale transactions
The ratio for the value of chargeback/value of sale transactions
Number of Chargeback Reversals/Wins
Value of Chargeback Reversals/Wins
Name of bank
We download the MTD & YTD reports from the portal for Batch Deposits & Chargebacks. For MTD we download the data for that particular month & for YTD we download data from the beginning of the current year to the date on which the report is preparing.
We prepare financials for all Corps & then consolidate them to ensure each MID shows profit only equal to or less than the commission it pays, this is to ensure MIDs are not liable to pay any tax other then their commission.
Our Real Estate Accounting Services Include
Cash flow projection
Providing weekly reports.
Preparing ratio reports
Setting up a billing and invoice system in place.
Managing end to end accounting
Payroll and benefits administration:
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