Getting Started: Make a Profit With Fullscript
In this article:
Making a Profit with Fullscript
Tax Information
Adding Your Bank Account
Setting a Profit Margin & Dispensary Discount
Dispensary and Patient Discounts
Payouts
Making a Profit with Fullscript
Practitioners can opt-in to earn a margin of sales by becoming the seller of record and authorizing direct deposit to receive payouts.
Select Make a Profit from the banner at the top of the page as shown below, and complete the required fields in Tax to start earning a profit.
Selecting Make a Profit direct to the Tax page where required fields must be completed.
Tax Information
Converting to a profit account, the account holder will become the 'seller of record' and become responsible for reporting income earned from Fullscript come tax season. Completing and submitting your tax information is the first step to converting your account to a profit account. Learn more about the requirements in Providing your Tax Information.
Warning: Entry errors can delay verifying your account with our payment processor, Stripe. It's important to ensure the information is accurate and matches what the IRS/CRA would have on file on the date your information is submitted.
Adding Your Bank Account
Next, we'll ask for your bank account details to deposit payouts directly into your account. Your preferred bank account can be added within the Payment tab in your Dispensary Settings once your tax information has been submitted and Terms of Service have been accepted.
Refer to Providing your Banking Information to learn how to add a bank account to your dispensary.
Setting a Profit Margin & Dispensary Discount
Dispensary owners interested in making a profit can offset their profit margin percentage by providing a discount to patients. Dispensary discounts will apply to all patient accounts and all products available in your dispensary.
Book a Free Live Demo and speak to one of our Fullscript On-boarders for more information on profit margins available in your region!
Dispensary and Patient Discounts
Similar to dispensary discounts, individual patient discounts will also apply to all available products in the dispensary. Patient discounts are in addition to dispensary discounts, and cannot exceed the maximum discount percentage available for your region.
Dispensary Discounts
The dispensary discount can be updated at any time from the Payment page in Dispensary Settings.
Patient Discounts
Unlike a dispensary discount, updating a patient's discount will not impact any other patient's discount in your dispensary. Patient discounts can be set when adding a patient to your dispensary or by editing an existing patient's profile.
Add a patient discount while adding new patients to your dispensary.
Payouts
As orders are shipped, proceeds earned are accumulated and deposited directly into your bank account on a weekly (default), bi-weekly, or monthly basis. Go to the Payment tab of your Dispensary Settings to view your current balance, active bank account details, and next scheduled payout date.
Payouts will only be attempted to the active bank account.
Note: Contact our Customer Success team to request an update to your payout frequency.