TechPOS system is a pioneer in pursuing compliance procedures to ensure that recreational marijuana products can be tracked in the regulated market. This compliance is about tracking who has supplied the cannabis product to a particular store, which percentage was purchased by whom.
TechPOS system has extensive cannabis tracking and reporting capabilities to assist governments with enforcing regulations, collecting taxes and preventing illegal cannabis diversion and inversion. The system allows regulatory agencies to view every gram of legal cannabis throughout the production life cycle.
In Canada, Licensed Stores should submit a report called Cannabis Retailer Monthly Federal Compliance Report (CRMFCR). Each province has a specific compliance reporting requirements. For example, in Alberta, the Federal Compliance Reporting Technical Specifications are illustrated below:
TechPOS system is capable to generate this report and submit it.
In USA, if you operate in a METRC state (Alaska, California, Colorado, Washington D.C., Maryland, Massachusetts, Michigan, Montana, Nevada, Ohio, and Oregon) you might wonder why you would need TechPOS cannabis software solution on top of METRC, but METRC is simply a REPORTING tool. It allows you to enter data into a web-portal so that you can report your inventory and sales to the state and remain compliant, but that’s it. If you want to grow and scale your business, you need a way to capitalize on your data and turn it into business results.
In Canada, TechPOS system is using a novel engine to cover the business rules that CRA has regulated and governed per each province. The system captures the sales taxes to facilitate the process of filing GST collection.