We have been a part of almost every program that QuickBooks (QB) has offered for over twenty years. The keys areas this expertise impacts our clients are as:
- Certified ProAdvisors – we not only use the products ourselves, but we are certified in the products, so our clients get the most out of the products.
- Intuit QuickBooks Authorized Resellers – we know the products so our clients are getting the best bang for their buck for the configurations we recommend.
- Intuit Trainers and Writers Network – we are part of a several hundred-person network specifically focused on training users. We contribute as writers to develop materials for training end-users. We also make presentations to end-users and trade groups to spread the word about how to better use the products.
Cannabis is an interesting market for us. We have deployed various QB versions based upon the needs of the client.
No matter which version of QB you use, we can build your chart of accounts.
QuickBooks Online (QBO)
QBO was expected to be a mainstay in the cannabis industry. Many of the seed-to-sale products list connectivity to QBO. But Intuit as a company is still not endorsing the use of QBO. Additionally, QuickBooks, the company, has not endorsed any third-party products to link to QBO. We have several clients using QBO so we optimize it as we can.
QBO is a good, budget-oriented product for smaller operators.
Where it struggles is with complete inventory features. We hoped that the seed-to-sale products would handle this and in some cases they do. Workarounds are needed in this area, and if no seed-to-sale product is in place, this is a huge challenge.
Another shortfall is the tracking of the various taxes in cannabis. Traditional QBO has one tax calculation for sales tax. In cannabis with state excise and local taxes, QBO has some serious limitations.
If you are using QBO and need help, please contact us. We can probably provide enhancements.
QuickBooks Premier Desktop (QBPD)
QBPD has been a solid alternative to QBO. The operator has to decide if he wants to have it on a server in-house or hosted and out of the office of the operator. After that decision, QBPD has some really solid features.
- Inventory can be managed nicely for a smaller operator who has primarily a single vertical of the industry.
- The various taxes can be properly set up and tracked. This includes cultivation excise, distro excise, city taxes, and sales tax.
- Very solid financial reporting for high-quality information for owners, managers, and investors.
We have been working with this product for many years. If you would like us to help you optimize your product, please contact us ASAP.
QuickBooks Enterprise Solution (QBES)
QBES is the big QuickBooks product. This is for operators that have multiple lines of business (like cultivation and distribution, or a full micro), or multiple locations.
We can set up the system with all licenses under one instance of QB, or break them out depending on staffing and volume.
QBES is just like Premier in that it is a desktop product which can be hosted on an in-house server or set up on a remote server.
Here are major points that make QBES so useful in the cannabis industry.
- Inventory system
- Multiple warehouse locations, either physical or virtual, to allow for full accountability of inventory.
- Can do transfers easily
- Can do drop-shipping of products
- Price levels for products and/or by customers
- Manage various taxes to include sales, excise and local
- Combined reporting across QB files.
- Provides P&L reporting for the complete entity and all licenses
- Can provide Sales reports for various distro arrangements, or multiple cultivation locations.
- Multi-user with over 100 access features
- Works in conjunction with the state METRC system.
Intuit Payroll
Intuit is not cannabis-friendly for payroll. We have other mainstream company-alternatives who are cannabis-friendly for this need.
Contact us if you need an original setup of your accounting system or if you need your system to be groomed.
