Add or edit the Wholesale Cost of inventory items
Wholesale Cost is the amount your store paid to a vendor for a particular item, and is an essential part of inventory value reporting, and profit reporting.
The best practice is to enter the Wholesale Cost for each Barcode (SKU) when you receive inventory.
If you forget to enter Wholesale Cost(s) on a manifest, or need to make a correction, you can add or edit Wholesale Cost later. There are two ways you can update Wholesale Cost:
On the Edit Inventory screen
This applies only to cannabis items that are tracked in your state traceability system. You can add or edit the Wholesale Cost of untracked, non-cannabis items on the manifest.
- From Inventory > Products, search the Barcode (SKU) or Product Name.
- Select the Product and go to the Inventory tab.
- Select Actions > Edit.
- Update the Wholesale Cost field on the Edit Inventory screen.
- Select Save.
On the manifest
- Find and open the manifest.
- Update the Wholesale Cost field(s).
- Select Save.
How Greenbits applies Wholesale Cost changes
When you update the Wholesale Cost of a cannabis Barcode (SKU), Greenbits applies the change to all associated Barcodes (SKUs).
For example, say you have a Package of flower that has three different Barcodes (SKUs): the original bulk flower that you accepted on a manifest, and also a half-gram pre-roll and a pre-pack eighth that you converted from the bulk flower.
If you update the Wholesale Cost on any of these three Barcodes (SKUs), Greenbits also updates the Wholesale Cost on the other two Barcodes (SKUs) accordingly:
|Original Cost||Updated Cost|
|Bulk Flower||$10.00 per gram||$11.00 per gram|
|0.5g Pre-roll||$5.00 per unit||$5.50 per unit|
|3.5g Pre-pack||$35.00 per unit||$38.50 per unit|
This also applies to split inventory. For example, if you also split some of the bulk flower onto a new Package or Lot, Greenbits applies the same cost change to the split Package(s) or Lot(s).