Cannabis Accounting Software

Best Accounting Software for Dispensaries

It's important to choose an accurate and reliable accounting software system for your cannabis dispensary. Marijuana laws are always evolving, so too must your bookkeeping systems. In addition, you need a system that is easy to use and understand. Your business will be able to grow and prosper if you have the right accounting software in place. You can't afford to make mistakes when it comes to keeping track of all your financial transactions.

So, what’s the best cannabis accounting software for dispensaries?

PNATC has carefully researched the options and provides a list of the best available:

Best Accounting Software for Cannabis Dispensaries

Cannabis Accounting Software & QuickBooks

When looking for accounting software for dispensaries, the QuickBooks software you choose should be based on the size of your business and your plans for growth. Here are the QuickBooks programs to choose from:

• QuickBooks Online (QB) is one of the best choices if you're just getting started with your cannabis business. It offers everything you'd expect from a basic bookkeeper, plus it can help you organize your finances, create invoices, pay bills, and much more. You'll find that QuickBooks is easy to learn and use, and it comes with a 30-day trial period so you can see how QuickBooks works before committing to a monthly subscription. Plus, you get access to online QuickBooks training videos and support whenever you need it.

• QuickBooks Premier Plus 2020 (QBPX) is an accounting program designed specifically for marijuana dispensaries. It’s also one of the best accounting programs out there. With QBPX, you can manage your business from anywhere. You can access your data online or offline. You can sync your data between multiple devices. And if you ever lose your device, you can easily download your data onto another device. QBPX is perfect for any type of dispensary.

• QuickBooks Enterprise 22.0: If you run a dispensary and you have a few or more locations or you also grow or cultivate cannabis, QuickBooks software is for you. It allows up to 40 users and can be completely customized to suit your Cannabis business’s needs. It has six times the capacity of QuickBooks Premier Plus and offers more than 200 customizable reports so you can view your business operations at a glance. This software starts at about twelve hundred a year and QuickBooks offers a 10% discount on your first year’s subscription.
  

Cannabis Accounting Software & Zoho Books

• Free Zoho: You can get a free account with Zoho Books that allows you to have one user, up to 1,000 customizable invoices, multiple banks, and credit card accounts, customized taxes and payment gateways. You will get email customer service support at this level. The cost is free.
  

• Standard Zoho package: With this package, you get everything in the free plan plus you can have up to three users and 5,000 customizable invoices. You can also track project expenses and customize your views and fields, so you get what you need from your reports. It costs $10 per month, and you will have access to customer service email, voice and chat.
  

• Professional Zoho package: This accounting software gives you everything the Standard package does plus you can include five users and have access to stock tracking, project tracking, price lists, multi-currency handling, timesheet approvals and price lists. It costs $20 per month, and you will have access to customer service email, voice and chat.
  

• Premium Zoho package: With this plan, which includes unlimited users and branches, you can have up to ten users and three branches. You will receive a free domain name, a customized web store, a customizable module builder, and a fully integrated CRM system. Plus, you will be able to contact support via e-mail, phone, and live chat.

• Elite Zoho Package: The Elite plan offers everything the Premium plan has, plus advanced integrations with multiple online stores, the ability to manage up to five different warehouse facilities, track shipments, and create custom shipping labels. It costs $100 per month, though you receive customer service via e-mail, telephone, and live chat.
  

• Ultimate Zoho Package: This accounting software offers everything in the Elite package, plus 25 additional custom modules, an advanced analytic tool, a customizable dashboard and the option to generate real-time reports, and the capability to export your report into either Excel or as a PDF document and share it with others at no extra cost. It costs $200 per month for unrestricted use and has 24/7 customer service via phone, email, or online chat.

Xero is another good option if you're running a cannabis dispensary. It has an easy-to-navigate interface on your computer or through its mobile app, which makes it simple to keep track of your finances, manage your payroll, and see your financial reports.

• Established: This plan is for more established businesses and offers the same features as above plus the ability to use multiple currencies, track your projects, claim expenses and view in-depth reports and analyses. This software runs $65 per month with the option of adding the $39 per month payroll feature to it.
  

Accounting Software Benefits for Cannabis Business

1. Understand your profit margins. You can’t understand how your business is doing until you know what profit margin you’re earning.
2. If you run a small company, you may not have enough time to keep up with your finances. However, if you use an accounting system that can automatically reconcile your financial statements, then you won't need to spend any time doing so.
3. Keep the cash flowing. When you use accounting software to stay on top of your accounts payable and receivables, your business will benefit from improved cash flow.
4. Plan for the future. When you can see how your business is doing financially, it makes it easy to make plans for the future.