Everything Cannabis Operators Need to Know About Outsourced Accounting Services
With the ongoing growth of the cannabis industry, best practices are dynamic, regulations are constantly changing, and dispensaries face tremendous challenges related to profitability and growth. For operators, it is difficult to remain current with accounting processes, select the best technology, and partner with industry-friendly third-party processors. Internal accounting departments can become overwhelmed by the influx of technology options, rapidly increasing duties, and staffing issues. All of these factors make it even more challenging for dispensaries to efficiently handle your accounting activities.
Outsourced accountants and advisors with significant experience in the cannabis industry can be invaluable for operators. Bridge West’s Cannabis Accounting Services Group guides operators and helps to develop efficient accounting departments and determine the best technologies for dispensaries. Since 2009, our team of cannabis accountants and advisors has worked with cannabis cultivators, processors, transporters, dispensaries, management, and intellectual companies. We provide cannabis businesses with customized services and solutions, and collaborate closely with operators to assess your systems, major accounts, and structure. Based on our experience with over 600 operators across the county, our advisors will assess your current operations and develop a clear and strategic roadmap to help you reach your goals.
What You’ll Learn:
During this insightful webinar, we discussed the reasons why operators should consider outsourced accounting services for your cannabis dispensary. We reviewed the benefits, including increased efficiencies, technology expertise, and support and guidance from a team of experienced cannabis industry advisors with best practice insights.
We discussed the process for outsourced accounting services and operators will learn how to determine if it’s the right fit for their dispensary. By explaining the elements of an ideal accounting department, we’ll help you recognize gaps in your current accounting department and learn how to increase efficiencies. In addition, our accountants and advisors will address the current industry challenges, including the abundance of platforms that are not cannabis-friendly, and we’ll offer solutions to these unique obstacles.
As the cannabis industry rapidly changes and grows, attend this webinar to gain industry insights and develop a roadmap for success. We will help you organize your dispensary’s accounting procedures, become more efficient, and gain a leg-up on the competition. With Bridge West’s industry-specific knowledge and big-picture guidance, we’ll provide the tools and expertise you need to maximize efficiencies and increase profitability.
Key take-aways attendees will learn from our industry experts:
- Determine if outsourced accounting services would benefit your dispensary.
- Learn about the benefits of outsourcing for cannabis dispensaries.
- Understand the assessment process for cannabis businesses.
- Learn about the team members and processes necessary to operate a top accounting department.
- Discover what technology resources are available, which are cannabis-friendly, and which are recommended.
- Hear real-world outsourcing accounting examples, best practices, and learn how successful operators address industry challenges.
- Attendees can submit questions during the registration process, and during the live webinar.
Patty Williams, CPA
Outsourced Controller/CFO Bridge West CPAs
Patty Williams, CPA, is Outsourced Controller/CFO for Bridge West CPAs. She has been licensed as a Certified Public Accountant since 2014. Patty started working as a fractional CFO and Controller for cannabis clients in 2017. Over the past five years, she has worked with licensed cannabis operators of all sizes to bring an exceptional level of consistency and standardization to the constantly evolving landscape of cannabis finance. Her engagements focus on minimizing the impact of IRS 280E, cash management, cost accounting, financial statement preparation and internal controls over financial reporting.
Aaron Stolz, CPA
Senior Accountant with Bridge West CPAs & Advisors
Aaron Stolz, CPA, is a Staff Accountant with Bridge West CPAs. Aaron has concentrated on the retail cannabis space and focused on cannabis industry issues since 2014. In 2017, he earned a Master of Accountancy degree and his background includes experience with every aspect of the industry’s administrative needs. Aaron served as an Office Manager, a Cost Accountant, and a CFO prior to joining Bridge West as a Senior Accountant.
Peter Prevot, CPA, CIA
Chief Operating Officer of Bridge West Consulting
Peter Prevot, CPA, CIA, is the Chief Operating Officer of Bridge West Consulting. Peter dedicated his career to the cannabis industry in 2014. Peter helps cannabis clients increase profitability, retain more of the bottom line for business growth, and comply with laws and regulations as operations expand. His core professional competencies include regulatory analysis, license procurement, management consulting, corporate governance, strategy, accounting information systems, banking regulations, governmental relations, and internal controls. Peter previously held board positions with the Louisiana Cannabis Association and the Pointe Coupee Enrichment Fund. He currently serves on the Board of Directors for the Upbeat Academy Foundation and the Veterans Alliance for Holistic Alternatives. Peter is also the Founder and Executive Director of the Louisiana Association for Therapeutic Alternatives.
Registration and Contact Us:
This webinar will be held on Wednesday, September 21, 2022, at 12:00 pm – 1:00 pm Mountain Time. You won’t want to miss this valuable information and industry insights! Register here.
Bridge West CPAs & Advisors is dedicated to helping cannabis businesses across the country. Now into our second decade of serving cannabis entrepreneurs and operators, Bridge West stands ready to get you on the road to success. For more information about how we can assist your cannabis business, or to schedule a complimentary consultation, contact us today, we’re here to help.