Nickie Wiatrak
Manager
n.wiatrak@bridgewestcpas.com
Direct: 952-844-2553
Outsourced Accounting Services
Bridge West’s Cannabis Accounting Services Group will provide your cannabis business with customized services, whether you’re a startup with limited resources and no accounting and bookkeeping staff, or an established cannabis business with an internal accounting team. Since 2009, we’ve worked with cannabis cultivators, processors, transporters, dispensaries, management, and intellectual companies.
Let our cannabis accounting services group guide your cannabis organization through the accounting issues. Through our in-depth knowledge of the cannabis industry we have developed standard chart of accounts, methods to minimize 280E, properly account for inventory, and develop Key Performance Indicators. Our cannabis group has the expertise and resources to meet your specific needs.
As your cannabis organization grows and evolves, our flexible services evolve with you. For example, if you’ve reached the point where it would be beneficial to have an in-house accounting staff, we can seamlessly transfer the day-to-day responsibilities to your team and provide more advanced Controller or CFO consulting services.
Below is a summary of the services we can provide on a monthly basis.
| Bookkeeping/Staff | Controller | CFO | |
|---|---|---|---|
| Subledgers | ✔︎ | ✔︎ | – |
| Journal Entries | ✔︎ | ✔︎ | – |
| Bank Recs | ✔︎ | – | – |
| General Ledger Process | ✔︎ | – | – |
| Reporting to Shareholders, Creditors | – | ✔︎ | ✔︎ |
| Sales Tax Filing | ✔︎ | – | – |
| Budgets and Projections | – | ✔︎ | ✔︎ |
| Expense Analysis | – | ✔︎ | ✔︎ |
| Cash Flow Management | – | ✔︎ | ✔︎ |
| Business/Financial Plan Prep | – | – | ✔︎ |
| Banking/Financing | – | – | ✔︎ |
| Strategic Planning | – | – | ✔︎ |
| Insurance Coordination | – | ✔︎ | ✔︎ |
| Key Performance Indicator | – | – | ✔︎ |
Additional Services Provided:
- Inventory costing
- Fixed asset management
- 1099 processing and electronic filing
- Payroll processing
- Clean up, catch up, custom work
- Property tax returns
- QuickBooks training
- Annual business reporting
- Sales and Use tax reporting
- Audit support
While proper bookkeeping and accounting are critical components of any business’s success, the time, resources, and expertise required to manage these operations can drain your energy and focus. Bridge West’s Cannabis Accounting Services is the smart solution. We will be leading you through the challenges of accounting in the cannabis industry and not trying to learn it with you.