Most cannabis regulatory authorities in the United States use Metrc as the seed-to-sale tracking system for dispensaries. Metrc’s goal is to create safety and transparency for consumers in the cannabis industry, which benefits dispensary operators as well. While seamless integration between Metrc and an advanced cannabis POS system like Cova simplifies compliance reporting for dispensaries, sometimes inventory syncing and adjustments can be a challenge. Tallying inventory manually with what is reported on Metrc can lead to errors, which can be avoided with advanced Metrc reconciliation reports, now available to all dispensaries using Cova POS in Metrc states. These reports use real-time data from both Metrc and Cova and will immediately reflect inventory changes or adjustments made in either system.
What is Metrc Reconciliation Report?
Metrc Reconciliation Report is a tool available on Cova POS for cannabis retailers to compare their dispensary inventory between the Cova POS system and Metrc and easily spot any discrepancies. As this report is instantly available on your dispensary POS, you can take necessary actions to ensure that your inventory on both systems is accurate and synced. Metrc reconciliation report uses real-time data from Metrc and Cova POS, and immediately reflects inventory changes made in either system so that you don’t have to wait until the end of the day to sync any changes for Metrc compliance reporting.
How does Metrc Reconciliation Report Simplify Compliance?
Metrc Reconciliation report is a new feature available on Cova POS that will save cannabis retailers a lot of time and ensure real-time compliance by syncing inventory automatically on both Metrc and Cova. This report displays every package on the Cova POS system and its corresponding details on the Metrc traceability system.
- It allows you to detect discrepancies in a single glance via the “Difference" column in the report generated on Cova POS.
- It helps you keep your Cova and Metrc inventories synced in real-time.
- You can easily keep your Metrc inventory up-to-date and always stay compliant.
How to Work with Metrc Reconciliation Report?
To see the Metrc Reconciliation Report, you will need the 'View Traceability Reconciliation Report' permission on Cova. Retailers using Cova POS can learn more here. The report can be easily generated from the compliance section under reports and analytics.
- The report lists every package that is in either the selected Cova location or its corresponding Metrc license.
- The list can be sorted to put the item with major discrepancies at the top (either positive or negative).
- Quantities on Cova POS are automatically converted to Metrc's unit of measure to ensure that the comparison is accurate.
Detect Discrepancies, Save Time, and Stay Compliant
The main goal of using the Metrc reconciliation report is to find any cannabis inventory discrepancies immediately and act upon them as soon as possible. When a report is generated, anything that's a discrepancy between Metrc and Cova systems will be flagged at the top of the report. Once you identify a discrepancy, the item may need to be adjusted in Cova or Metrc. But before making any adjustments, it is worth checking the Traceability Dashboard to ensure that there isn't a failed sale waiting to process that accounts for the difference. There could also be a discrepancy if a manifest has been received in Metrc but hasn't yet been received in Cova.
Simplify METRC Compliance with Cova POS
A seamlessly integrated dispensary POS like Cova automatically sends every purchase and sale transaction to Metrc in real-time and corrects any mistakes with automatic adjustments. With Cova’s automated sales reporting and offline mode, you can carry on with sales at your dispensary and not worry about Metrc compliance reporting. If there are any connectivity issues, all saved data automatically sync once you are back online, ensuring that you are always running a compliant dispensary.
This new reconciliation report feature is also available for retailers in states that use BioTrack as their traceability system. Whether you are in a Metrc or BioTrack state, Cova POS allows automatic syncing of all your cannabis inventory in real-time with the state tracking system. Our clients across the US are already benefitting from Cova’s seamless integration with Metrc that syncs every transaction in real-time and simplifies compliance. Book a demo with us to see how Cova can be your best-in-class partner to streamline dispensary management.