What you should Know Before Getting a Cannabis Business Accountant
It is through numbers that you get to make a company big. The cannabis business are currently being crowded with so many customers coming on board and desperate times need despite measures. Your business has to be in order because of this. You need to ensure that you have due professionalism for the business to continue progressing. In business you need to have people that you can work with and who you can trust. The accountant is very important in case the IRS and other state authorities come looking for answers. You will be exposing all you strategies and money problems to the accountant therefore they must be a person you can rely on. You have to be very straight forward in the person that you get to select since they determine your fate.
The role of the bookkeeper is to review all the business transactions and they are also required to assemble this information into useful financial information. There are financial reported that the bookkeeper is tasked to work within the preparation of presentation to government filings. To aid your hiring process we have come up with a few things that you must see through so that you can have the best hiring process that will make you have the best staff.
The first thing is that you need and understanding are the types of the accounting professional there are. Some accountants get to confuse businessmen. Get an understanding of the CPA, the bookkeeper and the enrolled agent. The CPA is the certified public accountant. You have to take a relevant course to be enrolled as one. CPA account has been given the audit to do an audit of your business accounting. Upon them also is the mandate to give an opinion on the status of your financial records for your business.
The bookkeeper, on the other hand, will review the business transactions and will assemble the information for use. This is the information needed by the government for filling.
The enrolled agent is also an accountant. This person may prepare returns and has the capability to represent the client before the Internal Revenue Service. They, however, need to go through an IRS exam before they can be certified as one.
The baseline for selecting an accountant should not be short of honesty and diligence. What you need to get from this point is the person who is trustworthy. There are accountants with fishy deals thus you have to be sober. When they do not respond to your need to raise some questions. In the cannabis industry you need an accountant who will go through the normal procedure. If you are not keen your business can fail because of the accountants. The accountant that you hire should very well understand the marijuana laws that have been put in place.
Personal networks are getting qualities to check for anyone to work as an accountant.
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