How to Handle Errors in Your Oklahoma Medical Marijuana Business Reporting
Good morning, Oklahoma medical marijuana business owners. If someone has messed up your bookkeeping or your reporting to METRC, OMMA, or OBNDD, it can cause serious problems for your business. Knowing what steps to take right away is crucial to protect your license and keep your operation running smoothly.
The first step is to remove the person responsible from your business operations. Document the reason for this action clearly and quantify the issues as quickly as possible. You may decide to perform an internal audit of your stock and financial records to understand the full scope of the mistake. Reporting the problem honestly and explaining the challenges you face in fixing it is essential to stay compliant.
Why Accurate Bookkeeping Protects Your Business
In the medical marijuana industry, proper bookkeeping is not just good business practice—it’s a legal necessity. If you cannot quickly and accurately untangle reporting errors, you might have to report them to the government before fully understanding the extent of the problem. Ignoring errors or hoping they won’t be noticed can lead to serious consequences.
Many business owners have learned the hard way that improper bookkeeping can cause the Oklahoma Bureau of Narcotics and Dangerous Drugs (OBNDD) to revoke registrations. Once revoked, getting your registration back can be an almost insurmountable challenge. This is especially true if the issue involves your Chief Operations Officer (COO) or key compliance personnel.
Maintaining accurate and up-to-date records helps avoid the appearance of wrongdoing and reduces your liability, both at the state and federal levels. Proper bookkeeping protects your business from criminal prosecution related to medical marijuana compliance violations under Oklahoma law, including Okla. Stat tit. 63 §§ 420 et seq.
Steps to Take When You Discover Reporting Mistakes
Start by conducting a thorough review of your financial and inventory records. Identify exactly where the discrepancies occurred and how they affect your reporting to METRC or OMMA. Keep detailed notes on your findings and prepare to explain the situation clearly if you are audited or investigated.
Communicating openly with regulatory bodies and demonstrating your commitment to correcting mistakes can sometimes help reduce penalties or avoid more severe action. Waiting too long or attempting to conceal errors will likely make the situation worse.
Consider consulting an attorney who understands Oklahoma medical marijuana laws and compliance requirements. They can guide you on how to report problems, conduct audits, and navigate the complexities of OBNDD and OMMA regulations.
Affordable Consultation for Oklahoma Medical Marijuana Compliance Issues
If you are facing accounting or reporting problems and need help understanding how serious they are, don’t hesitate to reach out. Our team at