CANNABIS RECORD KEEPING 101

Maintaining records related to your cannabis client’s business and business operations is critical to ensuring strict regulatory compliance. Organization goes a long way in this department. As discussed in previous posts, a compliance binder is a cheap and efficient way of keeping things organized and regularly updated. Records that typically are required to be maintained by licensees include documents related to taxes, inventory, transport, sales, security, and others. Make sure you look at your state and local regulations not only to ensure that your cannabis client is maintaining all necessary types of records, but also make sure clients maintain required records for the period of time specified in the regulations. Finally, make sure client record retention policies are in place prior to your client begins operations–an ounce of prevention is worth a pound of cure.

DISCLAIMER: THIS INFORMATION IS STRICTLY EDUCATIONAL AND DOES NOT CONSTITUTE LEGAL ADVICE.