Financial Software for the C+H Businesses

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Are you looking for accounting and ERP support for your C+H entity?

Your answer could, quite frankly, make the difference in being able to leverage your firm's C+H value chain processes, or NOT!

Here's some thoughts for kicking-off this C+H accounting and ERP discussion thread:

A well designed Accounting Software Solution will help keep track of where you have been.

A well designed Cannabis Seed-to-Sale Software Solution will help you know what you have, where it is located and where it goes.

The right Enterprise Resource Planning (ERP) Software Solution will tie all of your data together, past and present, helping to guide you into a future of growth and control. 

Do you need to leverage a full financials-based C+H ERP system?

This C-Connect discussion thread covers topics such as:

1.) Standard Chart of Accounts - Your standard chart of accounts geared towards C+H industries

2.) 280E Tax Accounting Compliance and Challenges - Discuss the requisite 280e Tax Code for US-based entities.

3.) ERP System Acquisition - Adoption of a solid seed-to-sale ERP solution.

4.) Internal Audit - How will you audit your seed-to-sale ERP solution?

5.) Real-time Decision-making - How will your firm benefit from more rapid decision-making through real-time information?

6.) Streamline Financial Processes - Can you streamline your financial operations by means of a single source of truth?

7.) Cost Controls and Containing Costs - Can you improve cost controls and contain costs through the use of budgets and approval processes built into an ERP system solution?

8.) Crop Cycle Costing - Do you need to know the cost of each crop relay (replanting and replenishment of a specific strain) through Crop Cycle Management functionality?

9.) Project Accounting - Do you need to use project accounting to accumulate resource and material costs used from clones through the harvest of a single crop?

10.) Margin Management -  You need to be able to revaluate harvested C+H output with the true cost for accurate margin management.

11.) General Ledger - By applying a Single Source of Truth - all processes from cultivation to sales are transacted to the general ledger in real-time and in a single system, eliminating duplicate entries and the risk of human error.

12.) Financial Accounting - Your staff will need to be able to handle all financial transactions including general ledger, journal entries, budgeting, and fixed asset tracking in one system with comprehensive tools and reports.  

13.) Process Management - Your team will need to automate processes and close the books faster to access accurate and timely financial information.

14.) Banking - Your management and staff needs to be able to track all banking processes such as receiving and applying cash payments, recording deposits, processing outgoing payments, creating and tracking down payments on invoices, and efficiently reconciling bank statements.  

15.) Financial Reporting - You should be able to easily produce balance sheets, profit and loss statements, cash flow analysis, and budget reports for your company, as a whole entity, or for a specific enterprise area such as a cultivation, processing, distribution, or retail location.

16.) Excel - Can you easily copy and paste information from your ERP system into Excel spreadsheets for manipulation or from Excel to ERP solution for quick updates of information such as updating price lists or adding a journal entry?