The daily routine
Retail and production sites both need a short daily sequence that closes the previous day before the next one starts.
- Register and shift close with over and short by employee
- Vault count under dual control with a signed log
- Deposit preparation and reconciliation to the ledger
- Product receipts matched to invoice and Metrc manifest
The weekly routine
Weekly work is where variances get caught while they are still explainable.
- Cycle counts on high-velocity SKUs against track-and-trace
- Accounts payable review and vendor statement reconciliation
- Payroll review with department and cost-center coding checked
- Thirteen-week cash forecast updated against actuals
The monthly close
Month end should be a review of work already done: full Metrc reconciliation, inventory roll-forward with valuation support, production cost absorbed into finished goods, tax liability accounts trued up, and statements issued with a short variance commentary.
Records to retain
Retention is a defense strategy. Keep count sheets, reconciliation workpapers, adjustment approvals, cash logs, manifests, invoices, timekeeping detail and the written costing methodology for at least the full statute period.
Common failures we clean up
The same handful of issues appears in nearly every remediation engagement: cannabis tax booked as revenue, inventory adjusted without support, owner draws mixed with operating expenses, and production labor coded to a general payroll account with no allocation behind it.
Frequently asked questions
How much bookkeeping can be handled internally?
Daily transaction capture usually works well internally. The close, the cost model and the tax position benefit from outside specialization and independent review.
What is the most common Missouri bookkeeping error?
Recording collected state and local cannabis tax inside revenue. It overstates sales, distorts every margin metric, and complicates the tax filings that follow.
