By many estimates, the cannabis industry in Canada is expected to grow to ~$10B by 2027. Cannabis accounting offers an exciting opportunity in an industry where clean, accurate, and up-to-date financials aren’t just nice to have but entirely prescribed. There are compliance checks to account for, taxes and duties to track, and much more.
Enter QuickBooks Online and the app ecosystem. QuickBooks Online, or QBO for short, offers an accurate, professional, and automated take on accounting. Combine QBO with the day-to-day apps a business needs to operate and a truly harmonious match is made.
While at the onset this might be a daunting space, in this CPD course we’ll go through the ins and outs of using QuickBooks Online for cannabis businesses.
We’ll cover how to onboard a new cannabis client onto QBO including the setup of a chart of accounts, the sales tax center, company settings, and more. Once the client is onboarded, we’ll work through various bookkeeping, accounts receivable (AR), and accounts payable (AP) workflows. No set of books is complete without accurate reporting and to round us out, we’ll touch on financial statement preparation, report customization, as well as package creation.
This CPD course culminates in a section covering apps and different tech stacks you may commonly see in the industry. You’ll be able to identify apps for functions like POS or inventory management and more importantly, know how the data syncing and/or integration into QBO might work.
Key Topics discussed in this webinar:
Join Robert Mings in this CPD webinar to explore an increasingly innovative space in the world of cannabis accounting.
If you want to learn more about QuickBooks, we have customized certificate courses for you: Beginners | Advanced | Comprehensive.
Founder, Robert Mings
With a background in engineering, accounting, and finance, Robert’s experience has taken him from research labs through to accounting firms, both large and small, finally landing in the financial software industry. Through a variety of roles held in consulting, cloud accounting operations, and software engineering, Robert has worked with hundreds of unique accounting firms and businesses helping them achieve their digital transformation goals. He believes that combining tried and tested processes with modern technology solutions, all with an emphasis on people development, can help any business propel forward in the era of cloud computing. On the side, Robert is passionate about personal finance and educating current and upcoming generations on how to make smart money decisions.
Course Level
Credits
Instructional Method
Pre-requisites
Advance Preparation
PM
Perfect guide for cannabis.
ERS
Great course
TB
N/A
PR
The instructor was very good and informative but the slides on the screen were very blurry
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