Hand holding a small marijuana leaf
Marijuana, also known as Cannabis, has been consumed around the globe for around 3000 years. Since its legalization in California, the extraction of the plant has increased rapidly. Due to the recreational and medicinal benefits of marijuana, the plant has gained societal acceptance around the world.

The increased social acceptance worldwide has caused the sale of marijuana to go up by almost 50%. Considering only the USA, sales reached an amazing $1.5 billion in 2013. As more and more dispensaries open up in California, an increase in the extraction and packaging of marijuana is inevitable.

Marijuana Dispensaries & the Growth of the Cannabis Business

Technology has enabled these dispensaries to keep online bookkeeping records of how much marijuana has been sold, bought, utilized, transported, and wasted for whatever reason. Retail stores and dispensaries providing marijuana are planning to collaborate together to further improve the safe sale of the plant.

Retail stores that are working in collaboration with marijuana dispensaries are now supposed to have a medical certificate that allows the staff to sell the plant to patients who have legal permission. These certifications aim to educate the employees to assist the patients in a better way.

According to changes in the law of selling marijuana, retail stores will be able to sell potent products that can be used for recreational purposes by the patients who require it. The products that are sold will mostly be limited to suppositories, capsules, tinctures, and transdermal patches. With more states heading towards legalizing marijuana in the upcoming years, investors and professionals from all over the world are heading towards cannabis faster than people head for a gold mine hunt.

No matter what these ganjapreneurs are doing, whether it is designing indoor farms to grow the plant successfully without geographical limitations or developing new vaporizers for effective and harmless smoking, these fresh entrepreneurs have decided that no matter how protective the law gets towards cannabis, they are determined to make it more accessible, legal and usable both for recreational and medicinal purposes.

Dispensaries get the marijuana from farmers who grow the plant or local dealers and some of them even take it from illegal sources. In countries and states in which marijuana is legal, the process of cultivation starts with getting a permit from the government. These certificates are provided to the dispensaries for specific purposes only. A valid reason has to be given to prove that the marijuana which has been cultivated will be used solely for medical purposes and sold only to those who have verification from a doctor.

Once the government has allowed cultivation of the plant, the next big step is the transportation of the cultivated plant from the farm or the area where it has been grown to the dispensary or the storage area. This carries a high risk of theft from local dealers who illegally deal with marijuana. Alongside, the transportation has to be cleared by legal authorities to ensure that the transportation process is safely handled without any problems with the police or any authority. Therefore, most cultivators seek official permission from the government in which either the authorities are informed or a certificate allowing the transportation of the psychoactive substance is granted.

Once the cultivated plant is successfully transported, it is ready to be sold and given out to the patients who require it. The records of how much marijuana is cultivated, sold or destroyed in any way is all kept in bookkeeping records of the dispensary or firm that is dealing in marijuana.

Along with the legalization of the medicinal use of marijuana, some states and countries like the Netherlands and some parts of the USA have legalized the use of cannabis for recreational purposes also. The state laws define who can cultivate marijuana and who will be dealing in it. These laws may vary from state to state and different countries will have different laws. For example, the law in Alaska will permit both recreational and medicinal use of marijuana along with providing documents that will allow cultivation. On the other hand, the law in Arizona defines that marijuana can only be used for medicinal purposes and only registered dispensaries will be able to cultivate the plant.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.