Managing Cash: Documentation, Documentation, Documentation

Session Abstract

Cash is King! Especially in the cannabis industry and even with a bank account. Virtually every sale transaction is cash-based. Tracking that cash can be a nightmare. The IRS knows it. The Michigan Department of Treasury knows it and the CRA knows it.

The CRA Rules (specifically Rule 420.203(2)(f) state that the licensee records must be maintained and available upon request of the agency.

In this session we will delve further into what the above Rule means, tools for managing cash (its not enough just to have a bank account), and how to survive the CRA’s Annual Financial Statement process.

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