Resource
Dispensary Accounting Guide
Retail accounting succeeds or fails on the daily close. This guide sets out what a store should complete each day and how that rolls into monthly reporting.
The Daily Close
Reconcile registers, verify the deposit, compare sales to tracking-system depletions, and code discounts, refunds, and voids before the day is closed.
Inventory Valuation and Shrink
Value purchases at landed cost, count on a cycle, and record shrink as its own line so it is visible rather than absorbed into cost of goods sold silently.
- Landed cost including transport and applicable fees
- Cycle count schedule by category
- Shrink tracked separately and reviewed monthly
Tax Accruals
Record sales and excise tax as liabilities at the point of sale and reconcile them to filings monthly. New York adult-use retail sales generally carry a 9% state cannabis excise tax plus a 4% local excise tax, and adult-use cannabis products are exempt from state and local sales tax; confirm current rates and categories with the state.
Margin Reporting
Report margin by category and by vendor. Total margin hides the specific products and promotions that are actually moving the number.
Frequently Asked Questions
- Should discounts reduce revenue?
- Track them as a separate contra line so promotional impact is measurable rather than invisible inside net sales.
- How often should stores count?
- Cycle count high-velocity categories weekly and complete a full count on a defined schedule.
- What is the most common retail error?
- Recording collected tax as revenue, which overstates sales and distorts margin.
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Call to talk through your license types, current records, and reporting needs, or schedule a consultation at a time that works for your team.