Course Description
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:
- Operating Models
- QuickBooks Online (QBO) Setup
- Efficient Bookkeeping Workflows in QBO
- Reporting in QBO
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.
