Service
Cannabis Bookkeeping in Minnesota
A close calendar built around METRC counts, cash counts and 280E-defensible cost pools — not a generic small-business ledger.
Most bookkeeping engagements fail cannabis operators for a boring reason: the chart of accounts was never designed to survive an IRC 280E examination. We rebuild the ledger first, then run the month.
Our Minnesota clients close between the eighth and twelfth business day with inventory tied to their track-and-trace record, cash variance documented, and gross margin that a lender, an investor or a revenue agent can follow line by line.
What the monthly close actually includes
We do not deliver a bank-reconciled QuickBooks file and call it accounting. Each period is closed against operational reality — the point-of-sale, the track-and-trace system, the vault log and the payroll register all have to agree before we publish statements.
- Daily cash drop and vault log reconciliation with documented variance thresholds
- POS-to-general-ledger revenue tie-out by category, including discounts and loyalty
- Perpetual inventory reconciliation to seed-to-sale counts and adjustment reasons
- Cost pool roll-forward supporting Section 471 inventory capitalization
- Accrual entries for excise and sales tax, payroll, rent and license fees
- Reviewed financial package with variance commentary delivered by mid-month
Built for cash-intensive Minnesota operations
Banking access has improved for Minnesota license holders, but most dispensaries in Minneapolis, Saint Paul and Rochester still move meaningful currency. Cash is not a bookkeeping inconvenience; it is the single largest control risk in the business.
We write the cash handling procedure with you, then test it every month. Two-person counts, sealed deposit bags, exception logs and a documented tolerance make the difference between an explainable variance and an unsupported deposit that a revenue agent treats as unreported income.
Software and integrations we support
We work in QuickBooks Online and Xero for most operators, and move larger vertically integrated groups onto an ERP when consolidation, intercompany transfers or multi-entity reporting outgrow a small-business ledger.
Point-of-sale and seed-to-sale integrations are configured to push summarized journal entries rather than transaction-level noise, so the ledger stays auditable and the close stays fast.
- QuickBooks Online with class or location tracking by license
- Xero with tracking categories for cultivation, production and retail
- POS summary journals from common cannabis retail platforms
- Track-and-trace exports reconciled to perpetual inventory
- ERP migration and chart of accounts conversion when volume warrants it
Frequently asked questions
Can you take over books that are already several months behind?
Yes. Catch-up work is a separate fixed-fee project. We rebuild the chart of accounts, restate inventory and cost pools for the open periods, then move you onto the recurring monthly close once the history is clean.
Do you work with in-house bookkeepers?
Frequently. Many operators keep daily entry in house and use us for the cost accounting, review, reconciliation and financial reporting layer. We document the split so nothing falls between the two teams.
How is cannabis bookkeeping priced?
Flat monthly fee based on license count, entity count, transaction volume and whether cultivation or manufacturing cost accounting is in scope. No hourly surprises.
Get a close you can hand to anyone
Send us last month's trial balance and inventory report. We will tell you within a week what a 280E examiner would question.