Running a legal cannabis/marijuana business can be a hassle. Due to Federal law, credit unions and banks are generally prohibited from dealing with revenue from the sale of marijuana.
So, businesses running a legal trade in states where cannabis legalization has been passed, like Colorado, are generally forced to deal in cash. Some states are taking on that issue and making some headway. In addition, bitcoin may be an alternative to the cash problem.
In the Meantime, how to track marijuana business sales
But not everyone has access to the current options.This leaves (no pun intended) many marijuana business owners to find creative ways to track what they are making. Can you imagine? That's a lot of money to count and keep track of.
And what if you have a business with multiple locations? One of our clients out of Colorado came up with their own solution using some QR codes and our app, Scan to Spreadsheet.
How does it work?
At the end of the day, someone at each location scans their money bag’s barcode and enters the quantity. In other words, quantity equals the cash value that's currently in the bag. That information is then updated and can be emailed to the manager and appended to an Excel Spreadsheet.
- Each money bag at each location has its own QR code or barcode attached. FYI: if you need to make your own QR code or barcode, see our blog Make Your Own QR Code Generator.
- Each location has a cell phone with our Scan to Spreadsheet app available.
With the QR codes and the Scan to Spreadsheet app, they're ready to roll.
And don't forget, we can also develop a private label/white label version of our apps. Use an app that's specifically built for your business needs.