Until the SAFE Banking Act passes, the number of banks across the country that will service the Cannabis industry remains desperately low. Cannabis is currently classified as a Schedule 1 drug, and most banks won’t do business with Cannabis companies because of this. Not being able to open payroll or checking accounts (or borrow money to scale their business) leads most Cannabis businesses to constantly have massive amounts of cash on-hand.

Cannabis businesses have to watch their cash flow very closely if they want to stay in business. Most companies are flying blind and making purchasing decisions based on what they see in the safe (or in the bank account if they are lucky enough to be able to open one). Relying on the cash you have in-hand, rather than the business’ cash flow, can make it difficult to properly plan and forecast payroll and pay taxes. Paying taxes with big bags of cash is not only a terrible business practice, but it leaves them more vulnerable to theft or burglary.

We invite you to tune in to our latest podcast episode, Cannabis CEO’s Guide To Cash and Cash Flow Forecasting, to learn more about how having cash controls in place will not only make Cannabis companies safer, but also more efficient.

DOPE CFO Founder Andrew Hunzicker, CPA covers:

🟢 What cash flow is, and why it’s important to your success.

🟢 Cash controls, and how to make sure you protect this crucial asset.

🟢 How to properly project cash flow.

🟢 Tools you need to manage cash flow.

🟢 Ways to improve cash flow.

…and more!