A great point-of-sale tool will help you stay compliant with regulations, avoid theft, and learn about your customers.
- Find a POS that is built specifically for the needs of the cannabis industry.
- GreenBits, Meadows, Treez, Webjoint, and Fishbowl are all good options for operators.
- Look for a tool that helps you comply with state and federal banking regulations.
If you’re seeking to upgrade your software, or just hoping to avoid some of these common bookkeeping mistakes, your point-of-sale system is a good place to start.
A good POS system can help a cannabis retailer manage inventory, track sales, and get data on your customer trends.
Because of certain restrictive tax and banking regulations, a standard POS system like Clover or Square might not offer everything a cannabis retailer needs.
There are certain aspects of cannabis retail that make it useful to have a POS tool customized to your particular industry. You should also keep in mind that while many POS systems offer tax reporting features, these can often be out of sync with your state’s ever changing regulations.
We strongly suggest you consult with a CPA before submitting your taxes to make sure your POS records are valid and fully compliant. Here are a few of our top choices of POS systems for cannabis retailers.
GreenBits
GreenBits POS system can do a lot of things a traditional POS would offer – including automated discounts, setting up a loyalty program, register functionality, employee management, and customer management.
It also has many features built in specifically for the cannabis industry that stand out.
For example, transaction limits can alert your employees to prevent any sale from exceeding state regulations with an automatic transaction limit.
The platform can be configured for compliant receipts and labels, state reports, and regular inventory audits, as well as other compliance guardrails to help you stay on track.
There is also a weigh station/scale integration, online menus that sync with Leafly and Weedmaps, vendor returns, and inventory audits. It’s a powerful tool that should do everything your cannabis retail business would need – just make sure that taxes are being calculated properly for recreational vs medical patients.
Meadow
One of the things that stands out about Meadow is their streamlined interface and ability to sync with METRC, the track-and-trace system used in California. This is a big plus!
Their inventory is specially configured to provide accurate cycle counting so a retailer knows how much product is in-stock, what’s moving, and when to reorder.
The platform supports UPC barcodes and is iPad compatible, making it easy to take orders on the go and have your inventory update in real-time.
Finally, one of the features we like best is the online ordering tool. For cannabis retailers looking to expand their user base, Meadow lets you set up a delivery and in-store pick-up function for anyone who wants to place an order online. This is a great way to reach a new customer base who may not reach your physical location by foot.
Treez
Treez is actually a seed-to-sale software that works for dispensaries, cultivators, and manufacturers.
However, their payment tool is worth investigating for your cannabis retail business.
Treez Pay is a PIN-based POS that integrates with a larger retail-management software. Apparently, through Treez, banks are on board with accepting credit payments: the Treez Pay site claims that with their POS, you get “100% domestic with registration as a Cannabis Dispensary – our banks know what you sell!”
This POS is a good option for dispensaries seeking to streamline payment, elevate the customer check-out experience, and increase ticket size. By accepting debit, Treez Pay says they see an average increase of 35% in ticket size.
Webjoint
Webjoint also has a METRC-compliant feature, as well as an integrated e-commerce store and delivery tracking.
What we like about Webjoint is the cannabis tax modules. The platform can help you navigate excise, local, and custom tax regulations depending on where your business is located. This can help you keep your books in order and make sure you’re paying the right taxes to your vendors. Their inventory tool is also useful for anyone with multiple locations; the platform deducts from various locations – syncing in-store and online – in real time.
Fishbowl
Fishbowl has one of the most involved POS software add-ons of the bunch.
Their product, Fishbowl Checkout, combines tools from their manufacturing and warehouse software into one powerful solution.
There are many, many inventory tracking variable available to retailers through Fishbowl, including serial number, expiration date, lot number, and more.
Barcode functionality allows retailers to scan items by product number, UPC, or SKU; you can organize products to be sold individually or as a kit, and quickly manage discounts, promotions, and other custom pricing options. Payments processing syncs with QuickBooks Payments or Authorize.net, as well as cash and check payments.
No matter what POS system you use, make sure it helps keep your inventory organized and your cash accounted for. Look for a tool that helps you comply with federal banking and state tax regulations, and find something that you can customize for your unique business.
For more help setting up your business systems, consult our experts.
