The cannabis industry has been flooded with various inventory tracking softwares, making it hard to choose when searching for a new one. There are many things to consider when choosing a tracking software but one of the most important things is making sure the software will cover as many needs as possible. That is why what you really need is a Seed To CPA solution. This means that you are getting a solution that will cover all your cannabis tracking and sales needs as well as offering an accounting platform. 

ADILAS is that Seed to CPA solution. It is an inventory control and accounting software trusted in dozens of industries around the world, for nearly 2 decades. Adilas offers software as a service (SaaS) for any company at any size. It is a one-stop solution to all your data needs. Affordable, powerful, and customizable, dynamic software that allows data to be tracked, connected, accessed, and searched on the cloud. It is one of the most powerful dynamic systems at an affordable price for any company. Customization allows adaptation to any corporation’s workflow. 

What are some benefits of a full Seed to CPA solution?

Track cannabis from Seed to CPA all in one place. 

Many seed to sale solutions leave out important features. This means you have to utilize other tools as well as your seed to sale in order to get the full picture of how your enterprise is doing. Adilas, however, has worked hard to ensure that you have all the tools you need to track everything in one place. This saves you time and money. 

Track Cost of Goods more simply.

Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company. This amount includes the cost of the materials and labor directly used to create the good. It excludes indirect expenses, such as distribution costs and sales force costs. Adilas is a full ERP that can help you properly track COGS as well as all the other useful features it provides. Your accountant will thank you for making their job so much easier. 

Easily generate important financial reports.

Many companies use multiple platforms to manage different parts of their business, but how convenient would it be if everything is in one place. Adilas includes a full financial platform that allows you to track all your business financials, including Sales and Profit reports, Balance Sheets, and much more. 

We can help!

Adilas is the most complete out of the box solution you will find. We even have training courses to help you get started. Contact us today to find out more and get a free demonstration. Let us show you what Adilas Seed To CPA can do for you!

On September 21st of 2020, Florida-based METRC announced that it has secured the contract for Oklahoma’s medical marijuana traceability program, bringing the firm’s total track-and-trace contracts to 14 states and the District of Columbia. The contract creates a system to track marijuana plants and products from a plant’s growth stage through sale to patients (seed to sale). It serves as part of OMMA’s larger efforts to ensure accountability and safety within the state’s medical marijuana industry. “We’re honored Oklahoma selected Metrc to implement the state’s first cannabis tracking system,” said Jeff Wells, CEO, Metrc. “With one of the fastest growing medical cannabis markets in the United States, the OMMA (Oklahoma Medical Marijuana Authority) has done a tremendous job developing this new industry, and we’re excited to support its ongoing success. We look forward to working with state regulators and licensees to launch our system and ensure cannabis products are safe and secure for patients.” 

Oklahoma’s legal medical marijuana market began in 2018. Today, it is one of the most business-friendly medical markets with the highest number of dispensaries per resident and more than 300,000 patients. “OMMA is very excited to begin working with METRC to establish a statewide seed to sale system in Oklahoma,” said Kelly Williams, Interim Director, OMMA. “This system will revolutionize our compliance abilities and improve our response time on complaints and recalls. METRC’s experience in this industry will be very valuable as we build Oklahoma’s system together.” 

Dr. Williams added, “We know that businesses will have many questions in the coming weeks, and we will answer them as quickly as possible.” OMMA will also keep the public updated as the system is implemented. It is expected to take up to six months.

About METRC

METRC is the leading solution in the country for cannabis governance. Their software, RFID technology, and support teams track cannabis products from seed to sale, ensuring a closed, legal ecosystem. METRC’s solution ensures a secure supply chain, transparency, and public health, providing a safe marketplace for everyone. 

METRC offers integration features with many seed-to-sale software systems used by licensees. All commercial licensees in Oklahoma will be required to either integrate with or input their information directly into the METRC software. This allows OMMA to view and track cannabis business inventory from seed to sale in real time.

METRC is fully integrated with Adilas

Many licensees will choose to utilize seed to sale software in addition to METRC. This is because METRC does not include some functionality that a cannabis business needs such as advanced reporting. Fortunately Adilas fully integrates with METRC via API. This means that instead of having to enter data in two places, you can just enter it in Adilas. It then syncs directly to Metric ensuring you stay compliant. 

ADILAS is an inventory control and accounting software trusted in dozens of industries around the world, for nearly 2 decades. Adilas offers software as a service (SaaS) for any company at any size. It is a one-stop solution to all your data needs. Affordable, powerful, and customizable, dynamic software that allows data to be tracked, connected, accessed, and searched on the cloud. It is one of the most powerful systems at an affordable price for any company. Customization allows adaptation to any corporation’s workflow.  

Learn More

We are experts in Adilas functionality and how it works with METRC. We would love the opportunity to show you what it’s all about. Contact us today to discuss your business tracking needs and schedule your free demo!

Standard Operating Procedures (SOPs) are a necessity in the cannabis industry. Cannabis SOPs record processes to be followed through all areas of a cannabis business. They provide step by step instructions for the simplest tasks to the most complicated. SOPs ensure that these processes are consistent and efficient. They are usually required as part of the licensing process as well. 

Writing SOPs can be a hassle but by writing them for you, we have eliminated the headache and created other advantages. 

Our Cannabis SOPs are up to date with current regulations! 

One of the main reasons having good SOPs is essential is to make sure your facility is functioning according to current regulations for your location. We ensure that all SOPs are written to current regulations so you don’t have to worry about making sure they are compliant. 

Save time! 

Writing SOPs can be very time consuming since there are so many processes that need to be covered. Using our SOPs can free up loads of your valuable time, allowing you to work on all the other important aspects required in a cannabis business. 

Save money!

Everyone has heard that time is money and that is equally true in the cannabis business. By allowing us to save you time, you end up saving all the money spent on the labor necessary to compile and write SOPs for your company. 

Save energy!

Not only does it require time and money to write SOPs, it also requires energy. Lots of it. It takes energy to figure out what all your processes are and then get them down in a way that makes sense as a procedure. We have already done that for you, saving you lots of energy that you will need for other projects. 

Our SOPs are easy to update!

We know that there will be processes you need in the future that can’t be foreseen currently so we make it easy to update your SOPs by delivering them in a Word document. 

We can help!

Not only do we offer templates, but we also offer writing services! Do you need specific SOPs for your company’s unique processes? Contact us today to discuss your SOP needs and get a quote for our writing services.

You have probably heard how important proper accounting is to the cannabis industry but why is that the case? What is 280E and what are GAAP and COGS? Here we provide an introduction to those subjects. 

Why Proper Accounting is Important to the Cannabis Industry

Audits

Cannabis companies are being audited regularly, and noncompliant businesses face years of litigation, significant legal fees and back taxes. In extreme cases, significant penalties have been handed out for lack of accuracy, such as in the Alterman-Gibson court case, with a $78,000 accuracy penalty, and the Northern California Small Business Assistants case, with a $250,000-plus accuracy penalty.

Every number in the books should be supported and properly recorded. Organized books not only reduce risk but can result in cost savings during an audit. It should be as easy as handing over a folder with all this support to the auditors.

Valuations

Cannabis companies must think about the following long-term goals:

• Are you building a legacy to be passed down from generation to generation?
• Do you want to show as much growth as possible to take advantage of buyouts and acquisitions that will occur once this industry goes federally legal?

If it’s the latter, executives must think about how the company will be able to get the highest valuations in the event of a merger or acquisition. Buyers will be looking for cannabis companies that:

• Maintain clean books and records.
• Comply with Section 280E of the IRS tax code.
• Have a reputable brand and market share.
• Can grow and vertically integrate.

Recent headlines report a number of companies being sued by investors. As this news surfaces, it’s going to get increasingly more difficult for cannabis companies to secure funding if they don’t have a clean set of books. Cannabis business owners should not only consider their long-term goals for valuations but also their short-term goals for bringing on new lenders and investors.

Banking

Since cannabis remains classified as a Schedule 1 drug, its illegal status makes banking a challenge. It is not easy to pay wages, insurance and taxes when you are working with an all-cash business. Having massive amounts of cash on your premises also puts your business at an extremely high risk of internal and external theft, so more security is necessary to protect personal and professional interests.

The good news for cannabis businesses is that there are banks that will take your money. Most of the banks that will do business with cannabis businesses tend to have a lengthy application process, including documentation such as financial statements. Many of these banks also perform quarterly reviews of these financial statements, so marijuana companies need a cannabis-trained accountant to keep their books and records up-to-date for submission to the bank. The banks do not just look at the quarter in total, they also look at each month leading into the quarter. So monthly financial records must be prepared and ready to go. If a bank sees huge fluctuations month-over-month, the account will be flagged and the banker will ask about those discrepancies. If your company does not have a solid reason for such inconsistencies – other than not having great accounting systems in place – your account might be shut down.

Cannabis Specifics

With all the federal and state regulations to navigate, accounting for cannabis is very complex. Section 280E is one sentence in the tax code with major implications when it comes to accounting. To account for 280E expenses properly, your accountant must understand:

• Cost accounting. (COGS)
• Accrual accounting.
• Generally accepted accounting principles (GAAP).
• Absorption accounting.

Cannabis business owners will find it difficult to locate a generalist accountant who understands all of these concepts, largely because an understanding of GAAP and cost-based accounting is not required for most small- to medium-sized businesses. GAAP is actually required for publicly traded companies overseen by the U.S. Securities and Exchange Commission, so it requires an extra skill set beyond everyday small business accounting.

What is “GAAP”?

“GAAP is a combination of authoritative standards (set by policy boards) and the commonly accepted ways of recording and reporting accounting information. GAAP aims to improve the clarity, consistency, and comparability of the communication of financial information.” In other words, generally accepted accounting principles (GAAP) are a common set of accounting principles, standards and procedures that companies must follow when they compile their financial statements to be distributed outside of the company. It covers such things as revenue recognition, balance sheet item classification and outstanding share measurements. 

What it boils down to is that GAAP is meant to ensure a minimum level of consistency in a company’s financial statements. This makes it easier for investors to analyze and extract useful information. Investors should be cautious of a financial statement that is not prepared using GAAP.  It also makes the cross comparison of financial information across different companies easier. 

What are “COGS”?

Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company. This amount includes the cost of the materials and labor directly used to create the good. It excludes indirect expenses, such as distribution costs and sales force costs.

In Conclusion

Marijuana companies need an experienced cannabis accountant trained in keeping sound books and records. Include an accountant in your budget from inception. Maintaining meticulous records will help ensure you are able to maintain your license, banking and funding. It also will keep you out of hot water with the IRS.

We can help!

Did you know that Adilas is a full ERP that can help you properly track COGS? We even have a training course to help you get started. Contact us today to find out more and get a free demonstration. Let us show you what Adilas Seed-To-Sale can do for you!

Learning a new “Seed To Sale” software can be stressful and time consuming. At Adilas420.com we are aware of this and have created some training content to help you and your employees learn Adilas on your schedule. 

What is it?

We have created training modules for just about every process you could need in Adilas, from cultivation to production to dispensary processes. Each module contains a logical progression of topics with videos that explain each process step by step. 

Who is it for?

These training modules are designed to help anyone learn Adilas, whether a seasoned manager or new employee. 

Where can it be accessed?

You can access and utilize our training modules from any device from which you can access a browser. As a result you can train anywhere that works for you.  

When can training occur?

Because you can access it from anywhere, training can occur when you have time. It is available for you and your employees anytime, day or night. 

Why choose this option?

Training employees costs money. It costs even more when it requires a second person to do the training. Save time and money with an online training solution. 

How to get started? 

Visit https://www.adilas420.com/learn/ and try one of our free E-Learning demos. Then check out our Course Catalog for other available modules. We even offer All-Access passes for individuals and employees. Add the desired course to your cart and check out. You will now have access to the chosen course and can learn on your schedule. 

We can help!

Not sure which course or package you need? Contact us today to discuss your Adilas training needs. We will help you find the right solution for your business.

California’s BCC (Bureau of Cannabis Control) has submitted a report to the Legislature on local jurisdictions awarded social equity grant funds authorized by the California Cannabis Equity Act of 2018 (Equity Act) and the Budget Act of 2019. Both Acts require the BCC to submit a report to the Legislature on the progress of local cannabis equity programs in local jurisdictions that received grant funds pursuant to these provisions. 

What does the report address?

The report describes all the equity grant funding awarded by the BCC and the Governor’s Office of Business and Economic Development (GO-Biz). Funds were granted to local jurisdictions to provide direct technical assistance to local equity applicants and licensees through their local equity programs. 

How much Social Equity Grant Funding was awarded? 

So far, the state has awarded a total of $40 million in equity grant funding. The Bureau was initially appropriated $10 million in funding and awarded funds to 10 local jurisdictions in October 2019. Additionally, the BCC and GO-Biz were each appropriated $15 million in equity grant funding. The BCC entered into an interagency agreement with GO-Biz to administer the process for its $15 million in grant funding. In April 2020, GO-Biz awarded $30 million in grant funding on behalf of GO-Biz and the BCC.

Why Social Equity Grant Funding matters.

Diversity is important in any industry but most especially in the cannabis industry due to the impact the “War on Drugs” has had on minorities and their communities. Legalization helps these communities but more can be done.

Social Equity Grants are meant to increase diversity. They are available to cannabis applicants that meet special requirements indicating they do not have the same advantages as most other applicants. For instance, the applicant might be a person of color, a woman, or starting a cannabis business in an underserved community. These grants help the social equity applicants obtain equal footing with their competition. 

Let us help!

Seeking a Social Equity license in California? We can help! We offer application writing services for all application types and all states. Contact us today to discuss your Cannabis Application needs. We would love to show you what we can do for you!

What is SEO?

“SEO” stands for Search Engine Optimization, but what does that mean? “SEO” is the practice of increasing the quantity and quality of traffic to your website through organic search engine results. In other words, “SEO” involves making certain changes to your website design and content that make your site more attractive to a search engine. “SEO” is the process that organizations go through to help make sure that their site ranks high in the search engines for relevant keywords and phrases.

Why do you need SEO? 

There are a lot of reasons to implement “SEO” for your website but here are the main ones. 

1. Organic Search Is Most Often the Primary Source of Website Traffic – Organic search is a huge part of most business’s website performance, as well as a critical component of the buyer funnel and ultimately getting users to complete a conversion or engagement. “Organic search” refers to unpaid search results. Being highly visible as a trusted resource by Google and other search engines is always going to work in a brand’s favor. Quality SEO and a high-quality website will take your company there.

2. SEO Builds Trust & Credibility – The goal of any experienced SEO is to establish a strong foundation for a beautiful website with a clean, effective user experience that is easily discoverable in search with thanks to the trust and credibility of the brand and its digital properties. Many elements go into establishing authority regarding search engines like Google. But establishing that authority will do more for a brand than most, if not all, other digital optimizations. Problem is, it’s impossible to build trust and credibility overnight – just like real life. Authority is earned and built over time. Establishing a brand as an authority takes patience, effort, and commitment, but also relies on offering a valuable, quality product or service that allows customers to trust a brand.

3. Good SEO Also Means a Better User Experience – Everyone wants better organic rankings and maximum visibility. Few realize that optimal user experience is a big part of getting there. Google has learned how to interpret a favorable or unfavorable user experience, and a positive user experience has become a pivotal element to a website’s success. Customers know what they want. If they can’t find it, there’s going to be a problem. And performance will suffer. Quality SEO incorporates a positive user experience, leveraging it to work in a brand’s favor. 

4. Local SEO Means Increased Engagement, Traffic & Conversions – With the rise and growing domination of mobile traffic, local search has become a fundamental part of small- and medium-sized businesses’ success. Local SEO aims at optimizing your digital properties for a specific vicinity, so people can find you quickly and easily, putting them one step closer to a transaction. Local optimizations focus on specific towns, cities, regions, and even states, to establish a viable medium for a brand’s messaging on a local level.

5. SEO Impacts the Buying Cycle – Customers do their research. That’s one of the biggest advantages of the internet from a buyer perspective. Using SEO tactics to relay your messaging for good deals, groundbreaking products and/or services, and the importance and dependability of what you offer customers will be a game changer. It will also undoubtedly impact the buying cycle in a positive way when done right. Brands must be visible in the places people need them for a worthy connection to be made. Local SEO enhances that visibility and lets potential customers find the answers, and the businesses providing those answers. 

6. SEO Is Relatively Cheap – Sure, it costs money. All the best things do, right? But SEO is relatively cheap in the grand scheme of things, and the payoff will most likely be considerable in terms of a brand’s benefit and bottom line. This isn’t a marketing cost; this is a true business investment. Good SEO implementation will hold water for years to come. And, like most things in life, will only be better with the more attention (and investment) it gets.

7. It’s Quantifiable – While SEO doesn’t offer the easier-to-calculate ROI like that of paid search, you can measure almost anything with proper tracking and analytics. Brands want to know and understand where they were, where they are, and where they’re going in terms of digital performance, especially for SEO when they have a person/company that is being paid to execute on its behalf. There’s no better way to show the success of SEO, either. We all know the data never lies.

In conclusion

If You’re Not on Page 1, You’re Not Winning the Click – It’s no secret in the world of SEO that if you’re not on Page 1, you’re likely not killing the organic search game. A recent study shows that the first three organic search ranking positions result in nearly 40 percent of all click-throughs, while up to 30 percent of all results on Page 1 and 2 don’t get clicked at all.

What’s this mean? Two things: If you’re not on Page 1, you need to be and there are still too many instances when a user types a search query and can’t find exactly what they are looking for.

We can help!

Adilas WP Shop is a plugin that allows you to bring your Adilas inventory directly into your WordPress site. This allows you to maximize SEO on your E-Commerce site. Read more about it here! Contact us today to discuss your E-Commerce and SEO needs.

What is a diversity plan?

A diversity plan is an actionable plan that describes how your business will go about including people from diverse backgrounds. It is a commitment by the company to create a workplace that is fair and inclusive, and promotes a workforce which better reflects the diversity of our communities. Workplace diversity integrates the principles of equal employment.

Diversity and inclusion is a company’s mission, strategies, and practices to support a diverse workplace and leverage the effects of diversity to achieve a competitive business advantage. The top diversity and inclusion priority is recruitment of diverse employees.

Why do you need one?

Business Plans, such as those required for many cannabis business applications, generally require a Diversity Plan. Diversity means accepting, understanding and valuing differences among individuals. Having a diverse workplace gives your business ideas and innovations from a variety of backgrounds and cultures. Following a diversity plan for the workplace helps your company operate in a global marketplace. 

Creating a diversity plan for your business is one of the most important actions we can take to ensure that diversity and inclusion become integral to the way our institutions function, both internally and externally. 

The world is a colorfully diverse place and so are our workplaces. Diversity is an economic and legal priority in business. It increases the bottom line, jump starts innovation and keeps businesses out of legal jeopardy. Managers, supervisors and employees at every level of a company need to find ways to embrace and respect diversity in their departments and the organization as a whole.

Diversity in the workplace is vital for employees because it manifests itself in building a great reputation for the company, leading to increased profitability and opportunities for workers. Workplace diversity is important within the organization as well as outside.

Embrace diversity in your workplace and you are on the way to a more fulfilling and productive organization. The world is a beautiful mosaic of differences and the workplace should be as well. Respecting your co-workers and employees is paramount to tapping the valuable diversity in your organization.

Let us help!

Adilas420.com offers a diversity plan that will be an integral part of your business plan. Check it out here! We can even customize it for your specific needs. Contact us today to discuss your diversity plan needs.

What is Adilas WP Shop? 

Adilas WP Shop is a plugin that connects Adilas (software as a service) to your WordPress and WooCommerce e-commerce website. This allows your e-commerce site to show live inventory directly from your Adilas inventory control system and for online orders placed online to be created in the Adilas Point of Sale system. Read more and purchase it here. 

Why is it important?

 E-Commerce is an essential part of a modern successful business. There are many things to consider when choosing an e-commerce option for your business. How will customers locate and access your site? How will your categories, products and services appear? It is also important to  understand how the customer will use your site to maximize its effectiveness. 

Managing a menu in multiple places including your POS, in store signage and popular search engines can be time consuming and expensive. An integrated online menu and shopping experience will save your business valuable time and money. 

There are several options for businesses that use Adilas POS to allow for online menus and ordering. Each may have benefits and drawbacks for your cannabis business so it is important to thoroughly explore your options before making a decision. Read about them here.

Getting started today is as easy as 1,2,3.

1. Install and Configure the Adilas WP Shop Plugin.

Once you make the purchase you will be provided with the Adilas WP Shop plugin. Just install it and then configure the plugin settings. This will pull your inventory from Adilas into your ecommerce site. 

2. Set Up Your Adilas WP Shop Site.

This step will vary depending on the customer experience you want to provide. It may involve installing other plugins to provide certain features. Decide things like if and how your customers will register and how your products will appear online. 

3. Start Selling!

Congratulations! You are ready to start selling your products from your newly built ecommerce website. 

Let Us Help!

Setting up your e-commerce can seem daunting with so many factors to think about. Let the experts help you set up and design your e-commerce website. Contact us today to discuss your e-commerce needs!

Trump stated he supported medical cannabis and a states rights approach to managing cannabis policy during his campaign. His new budget proves this was not true. 

In his 2021 federal budget proposal, Trump has called for ending existing federal protections. These protections limit the federal government from interfering in the state-sanctioned regulation of medical cannabis. This will put thousands of medical cannabis providers and the millions of patients who rely on them at risk for criminal prosecution.

What does this mean? 

The rider has been renewed in appropriations legislation every year since 2014. It stipulates the Justice Department can’t use its funds to prevent states or territories “from implementing their own laws that authorize the use, distribution, possession, or cultivation of medical marijuana.” Trump’s budget deletes this rider. 

This isn’t the first time that the administration has requested that the rider be stricken. Trump’s last two budgets omitted the medical cannabis protections language and asked for the policy to be removed. In all cases, Congress ignored those requests and renewed the protections in spending bills.

When Trump signed large-scale spending legislation in December, he attached a statement that said he is empowered to ignore the congressionally approved medical cannabis rider. He stated that the administration “will treat this provision consistent with the President’s constitutional responsibility to faithfully execute the laws of the United States.” 

How will this affect the industry?

No one can know for sure what this means for the industry, but it seems to bode ill. One thing we can assume is that if the Department of Justice starts prosecuting state legal and compliant medical cannabis businesses and patients then things are bound to get messy. 

In the meantime, stay compliant!

Need help getting or staying compliant? We have Seed to Sale Software, Cannabis SOP’s, and offer Cannabis Business Consulting. Check out Adilas420.com and contact us today!