If your state has regulations against giving away free products or selling below the cost of acquisition of your products, even a small mistake can have big consequences.
With Green Bits built-in feature "Below Cost Warning", your store will be safeguarded from making these mistakes at the Register. This warning will pop up if your selling price is less than the acquisition cost, and you can set your permissions so only managers can override this warning.
How does the "Below Cost" Sales Warning work?
Hypothetically let's say you paid $11.38 per gram from the vendor, but when you select inclusive tax price of $15 it brings your base price is $10.24. If you have Below Cost Warning turned on, it will prevent you from accidentally selling this item.
Or let's say you paid $11.38 per gram from the vendor, and the selling price has a base price of $20.00. If your team applies multiple discounts to this item, such as 50% off, it could bring the cost down to $10. If you have Below Cost Warning turned on, your team will know to remove or reduce the discount.
You can turn on or off Below Cost Warning in the back office on the register settings page.
Always enter a cost
In order to ensure that you can utilize Below Cost Warnings, you must always enter a cost for your goods. Read more about entering costs and best practices for cash management here.
Even if you may not know the exact cost, it is better to have $0.01 than to have nothing to ensure that you never give product away for free.
How to check that all of your items have cost
Not sure if you have properly entered all of your costs? Export an Inventory Report, and you'll be able to fill in any gaps.
To export an Inventory report:
- Open the Products page.
- On the upper right-hand corner, click Export > Inventory. This export contacts inventory-level data, including the costs you entered on your manifest.
- You should receive an email shortly with your exported inventory list. Please note - we purposefully zip this file to ensure this email does not go into your spam folder.
- Open your Exported List in Excel, Numbers, or Google Sheets.
- Look at Colum F "Average Cost". Create a filter to look at all items that have $0.00 entered. Read more about filters here.
- If missing a value, read more about how to enter a cost.
Prevent Budtenders from Skipping the Sales Warning
By default, if a Below Cost Warning appears on the register, your Budtenders and Supervisors will be given the option to "Skip" these warnings and continue the sales. You have the option to prevent certain users from skipping right in the back office.
To turn off Skip Sales Warning:
- Under Settings > User Roles, open your Budtender role.
- Expand the portion of Make Sales.
- Un-check the option for "Skip Sales Warning". This will ensure that you must have a manager override pin (ie - Admin, Shift Lead, or Supervisor role) to skip this warning at the register.
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