Naomi Granger
Imagine running a multimillion-dollar business on the envelope system.
You have a vault or safe at your facility containing one envelope stuffed with bills for payroll, one for rent and another for inventory purchases.
Imagine the person running this envelope system is a 20-something budtender.
Could you rest easy and ignore the strong possibility of theft, fraud and federal money laundering charges associated with mishandling cash?
Doubtful, but cannabis owners don’t really have a choice.
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Because cannabis remains federally illegal, most banks won’t touch marijuana-based businesses.
This means cannabis companies must operate only with cash.
To add to the chaos, most customers must pay in cash because it’s illegal to use major credit cards to purchase marijuana products.
These cash-only rules result in various issues, ranging from the accounting team struggling with managing accounts payable to robbery and fraud.
While you can’t solve the cash problems
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