How to Secure a Cannabis Accounting Job
Due to legal ramifications involved with the cannabis sector, sometimes the cannabis companies hire individuals who have specific knowledge in the relevant jobs. This is because, for any person who is new to the weed industry, the whole set of laws and regulations appear confusing. Many of the cannabis business owners look for consultant professionals or sometimes full-time professionals to smoothly carry out the job tasks. The Cannabis Accounting Job is a crucial job position that requires you to keep in touch with the updated laws and regulations in this field. Let us discuss how cannabis accounting jobs have been created in the process of the development of the cannabis industry.
The big banking sector wants to keep them away from the cannabis world
Since Cannabis accounting is all about money, the industry faces many tough challenges. Do you know the distribution and sales of cannabis is all done through cash receipts? This is because most of the big banks do not want to divulge their bank details to the cannabis owner because the industry is still not getting a green signal from the federal government.
The federal government monitors the big banks and hence they do not want to risk their identity by providing any financial service to the cannabis organizations. So, mostly the transactions are done in cash. This is why cannabis accounting jobs are crucial to keep a proper record on all the transactions and maintain everything in accordance with the financial and legal guidelines existed in the state level.
Exceptions
However, if the cannabis business owner wants to collaborate with the banks, then it will seek the help of Marijuana Limited SAR, a financial institution that offers financial assistance to marijuana businesses. It will subsequently file a petition to the U.S. government as a matter of proof that it is doing business under legal conditions.
During the partnership period if anyone violates the federal government laws and regulations, then there will be some punishment and in extreme cases, it may even lead to prosecution.
Preparing for the job
A cannabis accounting job is not limited to interacting with the vendors and securing partnership options, but at the same time it aims to ensure that everything is conducted across the guidelines. The CPA or certified public accountant will be hired to ensure that the cannabis organization is operating according to the books and it does not violate the guidelines prescribed for them.
If you already have prior experience working as a CPA in other industries, then the cannabis accounting job will be ideal for you. If you have obtained a CPA degree and have got a license then you will be preferred by most of the cannabis owners.
Experience required for the job
To do a cannabis accounting job, you need to have experience and you will need to produce a copy of your physical certificate. You can opt for several options, for example, you can either work as a consultant in a flexible manner and later graduated to a fully fledged position under a startup cannabis business.
You should be proficient in accounting software programs. As part of your job responsibility, you will need to perform regular audits to maintain the accounting process.
Related qualifications
As an experienced CPA, you will be responsible to manage the cannabis company’s finances. You should have the proximity with the payroll process, billing, inventory, collections etc. Finance is a vast area and you will know all the necessary details required in this field. Even if you do not possess a college degree you can still qualify the CPA test and earn a certificate.
Conclusion
Finding a job is never easy and this is especially true to the cannabis industry which is so fresh. So, to find a good cannabis accounting job, you can contact a staffing and recruitment agency to minimize the hassle.