Should discounts reduce revenue?

Track them as a separate contra line so promotional impact is measurable rather than invisible inside net sales.

How often should stores count?

Cycle count high-velocity categories weekly and complete a full count on a defined schedule.

What is the most common retail error?

Recording collected tax as revenue, which overstates sales and distorts margin.

Resource

Dispensary Accounting Guide

Retail accounting succeeds or fails on the daily close. This guide sets out what a store should complete each day and how that rolls into monthly reporting.

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The Daily Close

Reconcile registers, verify the deposit, compare sales to tracking-system depletions, and code discounts, refunds, and voids before the day is closed.

Inventory Valuation and Shrink

Value purchases at landed cost, count on a cycle, and record shrink as its own line so it is visible rather than absorbed into cost of goods sold silently.

Landed cost including transport and applicable fees
Cycle count schedule by category
Shrink tracked separately and reviewed monthly

Tax Accruals

Record sales and excise tax as liabilities at the point of sale and reconcile them to filings monthly. Massachusetts adult-use retail sales generally carry a 10.75% state marijuana excise tax plus the 6.25% state sales tax, and municipalities may impose a local option tax of up to 3%; confirm current rates and categories with the state.

Margin Reporting

Report margin by category and by vendor. Total margin hides the specific products and promotions that are actually moving the number.

Frequently Asked Questions

Should discounts reduce revenue?: Track them as a separate contra line so promotional impact is measurable rather than invisible inside net sales.
How often should stores count?: Cycle count high-velocity categories weekly and complete a full count on a defined schedule.
What is the most common retail error?: Recording collected tax as revenue, which overstates sales and distorts margin.

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Dispensary Accounting

Dispensary accounting, bookkeeping, POS and cash reconciliation, inventory and COGS, financial reporting, and 280E support for licensed cannabis retailers.

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