Atlanta Cannabis Company Accountants

Cannabis Business Inventory Management With Fishbowl Software

A key manufacturing feature of Fishbowl software calculates your businesses' need for inventory. It provides solutions for simple or complex manufacturing needs but maximizes the efficiency of your production process. Fishbowl software seamlessly integrates with all versions QuickBooks, making for a useful accounting tool in the area of your manufacturing processes for your cannabis business. You can utilize Fishbowl inventory management software when managing your warehouse inventory, especially when performing cycle counting.

Fishbowl Warehouse (FBW)

Fishbowl Warehouse (FBW) integrates well with both the desktop and online versions of QuickBooks. It integrates with a web-based accounting solution called "Xero." Xero assists small and midsized cannabis businesses by syncing their accounting and inventory records. Do you have multiple warehouse locations? FBW has the ability to track the inventory across those locations effortlessly. Due to the nature of this business, it is important to keep inventory safe for certain periods of time, so carrying costs may be kept at a minimum. In addition, advanced inventory management features are available that assist in managing your multiple locations — making batch picking easier. Here at FusionCPA, our accounting experts are knowledgeable of Fishbowls inventory management features and ho to optimize them to best fit your cannabis company. You can rely on us to keep your inventory accounting organized for easy access and execution.

Even though the number of states that have legalized cannabis for "medical use only" is changing, more than half of the country has legalized it in some form. That is 29 states, including the District of Columbia. With that said, cannabis businesses are sprouting up exponentially, and owners, like you, need an innovative and sophisticated technology like Fishbowl inventory management software for cannabis companies.

The cannabis business is booming, and the potential to make hefty profits is a real opportunity. Once you know and are familiar with which sector of the cannabis industry you want to pursue, then you will have clear insights on how to proceed. Whether your cannabis business becomes manufacturing, servicing, selling, distributing, or managing goods, or a combination of them all, Fishbowl can help with navigating these processes.

FBW Integrations

When it comes to integration, Cannabis companies can benefit from Fishbowl inventory software as it handles these types of tasks with the greatest of ease. Part tracking, bar-coding, and advanced billing for materials and work orders are done smoothly and accurately, and essentially cutting down lead time. This management software has the capacity to keep your records and entries on the greatest level of accuracy by updating accounting and inventory records simultaneously. FBM software allows you to continue using your familiar accounting software by just adding new features as you go.

Marijuana sales in North America grew by 30% in 2016. This massive occurrence caused projections by 2021 to reach $20.2 billion, making the cannibals business a huge deal. Our team of accountants here at FusionCPA are fully aware of the cannabis business potential an how the use of Fishbowl software can serve your cannabis company. It is just the kind of forward-thinking technology needed for this once-in-a-generation business endeavor.

Not only does Fishbowl software offer management and warehouse solutions, its Xero integration will make setup easy to configure. You will have one less worry while starting up your cannabis company when you let the innovativeness of Fishbowl software and Xero keep track of inventory and automatically transfer it to your ledgers. This includes information on scrapped inventory, cycle count, and other adjustments to Xero. Whatever costing method you use, calculations will be easier when you can view everything in one place.

Asset Tracking Solutions

Cannabis business owners can further benefit from Fishbowl management software with asset tracking solutions. Items may be tracked by serial numbers, lot numbers, expiration dates, or other methods per your assignment. Units of measure can be converted with the ability to separate pallets into individual units, or convert them back into pallets, and the jobs of picking, packing and shipping are done with the utmost accuracy. Fishbowl is an affordable asset tracking solution that gives you all the tools you need to increase efficiency.

In order to maintain a healthy balance of assets on hand for your cannabis company, asset tracking cuts down on shortages and overstocks—that way, your costing method is protected by having an accurate measure of assets for distribution.

Having Fishbowl as a formidable inventory management tool allows us to provide exactly what you need for your cannabis business here at FusionCPA. When you choose Fishbowl as your software for inventory management, asset tracking, warehouse, and management tasks are set to operate in a modern and sophisticated manner to fit the workings of your cannabis business. Our seasoned team of financial advisers can also assist you in creating a strategy for tax planning and accounting that can save up capital. We also offer comprehensive tax planning, bookkeeping, and CFO business advisory for cannabis companies. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!

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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive