A chart of accounts built for Colorado license types
Whether you hold a Retail Marijuana Store license, a Cultivation Facility license, an Infused Products Manufacturer permit, or you're operating under an Accelerator arrangement, your chart of accounts needs to separate cost of goods sold from operating expense with surgical precision from day one. We don't retrofit a restaurant or retail template — we build your books from the ground up around Section 280E and Colorado's Marijuana Code.
That means dedicated accounts for excise tax remitted at transfer, the 15% retail marijuana sales tax, the 2.9% medical marijuana state sales tax, and any local marijuana tax your city imposes, so every filing traces cleanly back to a general ledger account instead of a spreadsheet reconstruction at year-end.
Monthly close and reconciliation
Every month we reconcile your bank and merchant accounts, your point-of-sale or seed-to-sale export, and your accounts payable ledger, then deliver a closing package with a profit-and-loss statement, balance sheet and cash flow summary broken out by license and by location if you operate more than one facility.
Because most cannabis businesses still operate substantially in cash, we build cash-handling procedures — dual counts, deposit logs, safe reconciliations — directly into the monthly close so cash variances get caught immediately rather than surfacing as an unexplained shortage six months later.
METRC reconciliation as a built-in control
Colorado was the first state to go live on METRC, and MED expects your seed-to-sale records to match your financial records without daylight between them. We reconcile METRC package and transfer data against your inventory ledger on a recurring basis, catching data-entry errors, missed transfers and unrecorded waste before they show up as a discrepancy during a compliance check.
METRC-linked ledgers for Colorado operators
Since Colorado was METRC's very first live state, our bookkeeping workflows are built around it rather than bolted onto it. We pull package, transfer and sales event data from METRC and reconcile it against your general ledger inventory accounts every reporting cycle, so your seed-to-sale records and your financials never drift apart.
