Greenventory Product Updates: Lab Test Results, Excise Taxes, and More

June 02, 2021

A few new features went live on June 1. Make sure you check these out to see what your cannabis business can benefit from.

1. Take advantage of lab test result tracking

Greenventory can now track and update real-time test results from Metrc. If you go to Cannabis->Packages, you will see that every package now has a lab testing status (Test Passed, Test Failed, Submitting for Testing, etc.). Your team can stay up-to-date on which packages can be sold or used in production without checking with Metrc all the time.

2. Write off expired products

This update applies only to non-cannabis products. Navigate to Inventory ->Serial/Lot numbers, then click on the Expiring Products button to see all the products that have expired or are expiring today. Mark the ones you want to write off, create a Memo if necessary, and click Write off. Greenventory generates a new counting session which records inventory deductions and is then found in QuickBooks Online as an inventory adjustment.

You can write off and, if there is a need, export written-off non-cannabis items into a cvs. file from any inventory site registered in Greenventory.

3. Excise tax gets applied to sales transactions automatically

Go to Cannabis->Settings->Transactions, check Enable excise tax, and set up the tax rate. Once you have added cannabis items on a sales transaction (Sales Order, Invoice, Sales Receipt) the excise tax will be calculated automatically. If you are synced with QuickBooks Online, you can rest assured this transaction gets there with all the related tax data.




4. The left-side navigation bar gets a new + button

This seemingly small addition is a great time-saver when it comes to creating new transactions. The + button brings up all transaction types available as per your subscription plan, so you can go ahead and use this shortcut to generate one on the spot, no extra clicks!

You can test out the new functionality right now – just sign up for a free trial and stay tuned for more updates this summer.