Cannabis, hemp & botanicals
Books and taxes for hemp-derived THC shops.
Register sales, wholesale orders to bars and liquor stores, and product a single state law can pull off the shelf overnight. Your own bookkeeper keeps it sorted, an accountant checks every transaction, and you get one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
August made $11,000. The case of beverages pulled off the shelf after a neighboring state's new rule got written off as destroyed inventory instead of quietly disappearing from the count.
- Counter sales, beverages and gummiesRetail sales
- Wholesale order, local barWholesale sales
- Beverage distributor invoiceProduct for resale
- Certificate of analysis feeLab testing
- Age verification software feeCompliance costs
Why your books are different
This shelf can change legality overnight, and the books have to keep up.
A hemp-derived THC beverage or gummy is legal in one state and pulled from shelves in the next, sometimes with a single legislative session. A generalist treats inventory like it will always be sellable. This business needs its books ready for the day a product line simply cannot be sold anymore.
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1
A banned product becomes a write-off, not a loss
A state changes its rules and a case of hemp-derived THC beverages the shop already paid for can no longer legally be sold there. Left sitting on the books as ordinary inventory, it quietly inflates what the shop appears to be worth.
What we doLogs destroyed or unsellable inventory the moment a product becomes unsellable, so the books reflect what can actually be sold, not what is stuck on a shelf. -
2
Every batch's certificate of analysis is a real cost
A hemp-derived THC product has to test under a legal delta-9 THC threshold to stay compliant, and that testing is not optional paperwork, it is what makes the batch legal to sell in the first place.
What we doKeeps certificate of analysis costs tied to the batch they cleared, so the real cost of staying compliant is visible, not buried in supplies. -
3
Wholesale accounts pay net terms that outrun the cash
A bar or liquor store account often pays 30 days after delivery, while the distributor invoice for that same product was due on delivery. A shop growing its wholesale side can run short on cash even while sales look strong.
What we doTracks what wholesale accounts actually owe against what suppliers are owed, so a cash crunch is visible before it becomes a problem. -
4
Age verification costs get lost in general supplies
ID scanners, age gate software for online orders, and staff training on checking identification are real, recurring costs of selling this product responsibly, not a one-time setup expense.
What we doKeeps age verification costs in their own line, so the shop can see what staying compliant actually costs month to month. -
5
A card processor drop mid-month scrambles the numbers
Card networks and banks sometimes decline to work with hemp-derived THC retailers with little warning, forcing a switch to a backup processor. Two payout schedules landing in the same month can make a normal month look uneven.
What we doTracks sales by the day they happened rather than the payout date, so a processor switch does not distort the real month.
Your categories
The categories Gus keeps for a hemp-derived THC shop.
Set up once for how the shop sells and what it takes to keep a product legal to sell. You never pick a category, he does, and an accountant checks it.
Money in
- Retail salesBeverages, gummies, and vapes sold at the counter.
- Wholesale salesCases sold on account to bars, liquor stores, or convenience stores.
- Online ordersDirect orders shipped where state law allows it, age-verified at checkout.
- Sample and demo salesTasting events and in-store demos that generate a sale.
Money out
- Product for resaleHemp-derived beverages, gummies, and vapes bought from a distributor or brand.
- Lab testingCertificate of analysis testing confirming a batch stays under the legal threshold.
- Compliance costsAge verification software, ID scanners, and staff training.
- Destroyed inventoryProduct pulled from shelves after a state rule change, written off rather than sold.
- Card processing feesWhat a hemp-friendly processor keeps on each sale.
What we watch for you
- Unsellable inventory
Product on hand that a rule change makes it illegal to sell where the shop operates.
- Wholesale accounts owed
What bar and liquor store accounts owe against what is owed to suppliers.
- Cost per batch
Product and testing cost against what a batch actually sold for.
- Compliance cost trend
Age verification and testing costs, since they tend to only grow.
Ask Gus
Things hemp-derived THC shop owners ask Gus.
Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.
I wrote it off as destroyed inventory rather than leaving it sitting on the books as something you can still sell there. Talk to whoever handles your compliance about where it can legally still move.
It is if it goes unwatched. I track what accounts owe you against what you owe suppliers, so you can see a cash gap coming before it becomes a real squeeze.
That depends heavily on your state, and it changes. I keep the books ready either way, but the legal question is above my pay grade, that is worth checking with someone who tracks it closely.
The tax side
The tax side of a hemp-derived THC shop.
This is a federally legal hemp product for tax purposes, not the rule that applies to state-licensed cannabis, but state rules shift fast and the books need to keep pace.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- Ordinary deductions apply hereA compliant hemp-derived THC business is not subject to the rule that strips deductions from plant-touching cannabis businesses. Rent, marketing, and wages are deductible the way they would be for any retailer, as long as the product itself stays federally compliant.
- Destroyed inventory write-offsProduct that becomes unsellable because of a state rule change is generally written off as a loss rather than carried as inventory, once it is actually pulled and cannot be sold.
- Cost of goods sold and inventoryBeverages, gummies, and vapes on hand are inventory until sold, and an accurate count matters more here than usual since a rule change can strand part of it overnight.
- Contractor 1099s for outside helpA compliance consultant or delivery driver paid $2,000 or more in 2026, who is not on payroll, gets a 1099-NEC by January 31.
Deductions hemp-derived THC shops miss
Your bookkeeper knows what to look for in your statements. You never have to.
- Wholesale product purchases
- Certificate of analysis testing
- Age verification software
- ID scanners and hardware
- Staff compliance training
- Destroyed inventory losses
- Card processing fees
- Store signage and displays
General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.
All year, not just April
A hemp-derived THC year, kept every month.
State rules can shift with little warning. Your team keeps the books current all year, ready for a change whenever it comes. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Plan the year
Last year's return gets started, the 1099 list for outside help is ready, and a monthly set-aside is planned for the year ahead.
- April
Filed. Done.
Your return is filed and signed, with inventory and cost of goods documented clearly, as the books stay ready for whatever state rules shift next.
- July
Halfway check
Where the shop stands, what it will owe, and whether any state rule changes this year affected what could actually be sold.
- October
Before winter foot traffic
Before the year's busiest retail stretch, Gus looks at inventory levels and anything worth doing before December closes out the year.
What you get
What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.
Book a call- Monthly bookkeeping
Every transaction sorted into categories set up for hemp-derived THC shops. You never categorize a thing.
- An accountant checks every transaction
Real review, every month, before your books close. Not a spot check.
- Your business tax return, filed
Prepared, reviewed, and signed by that same accountant every year.
- The monthly number
What you made, what you spent, what to set aside for taxes.
- Your own bookkeeper
A real person assigned to your business, in the app whenever you need them. No hold music.
- On your books all year
Every month, not just in April. Your team speaks up whenever something is worth your attention.
- Cancel any time
No contract. No cancellation call. Your books are yours.
Straight answers
Questions hemp-derived THC shop owners ask first.
Is a hemp-derived THC shop taxed like a cannabis dispensary?
No, as long as the product stays compliant under federal hemp rules, this business is not subject to the rule that strips deductions from plant-touching cannabis businesses. It is taxed more like an ordinary retailer, though state law on the product itself varies widely and changes often.
What happens on the books when a state bans a product we already stocked?
It gets written off as destroyed or unsellable inventory rather than left sitting on the books as something that can still be sold. The legal side of what to do with the physical product is worth confirming separately.
Do lab testing fees count as a real product cost?
Yes. Certificate of analysis testing gets tied to the batch it cleared, since it is what makes that batch legal to sell in the first place, not an optional add-on tucked into general supplies.
We sell wholesale to bars on 30-day terms. Can Gus track what is owed to us?
Yes. What wholesale accounts owe gets tracked against what your own suppliers are owed, so a cash gap between the two shows up before it becomes a real squeeze on a month that otherwise looks strong.
Does the subscription tell us which states allow our products?
No. Gus keeps the books ready for a rule change and can flag inventory that becomes unsellable, but tracking which states currently allow a specific product is a legal question outside a bookkeeping and tax subscription.
Our books never separated wholesale accounts from register sales. Can that be sorted out?
Yes. Send what you have, even a mixed year of records. Gus separates wholesale and retail sales, and most owners can see where they actually stand within a couple of weeks.
Is a real accountant checking my books?
Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.
What does it cost, and can I cancel?
It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.
More in cannabis, hemp & botanicals
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What makes a bookkeeper worth paying for Every business we keep books for
Book a call
Pick a time. That's the whole signup.
Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.
- $197 a month to start
- An accountant on every transaction
- Cancel whenever