In Pennsylvania pawn transactions can be printed using an ink printer and plain paper. A copy of the pawn ticket is typically submitted with the pawn-license application.
The $495 version of the software is a basic pawn and buy-outright program with inventory control and POS (point of sale) processing with basic reporting to police and LEADS online.
With all software editions barcodes can be printed on hang tags and price labels allowing the barcodes to be scanned at checkout as well as finding inventory item records.
The advanced editions of the program have more features and are priced accordingly for finger-print and license scanning, web-cam use and electronic signatures.
Pricing and Policies
Unlike most programs this one is tiered in price and features so stores just starting out and shops with minimal requirements aren't forced to pay for unwanted features.
The basic program (Intro) processes pawns and includes the common matters related to pawning: loans, fees Late, one-time, gun, lost-ticket, etc) and interest calculations, redemptions, payments of interest only and principal only, grace periods, loan periods, forfeitures and loan extensions.
Here's a comparison of Intro, Deluxe, Diamond and 24k.
Software vendors have been attempting to force their end users to pay endlessly for the use of their software programs, either levying heavy support fees buried in the initial price and/or forcing the payment of monthly or annual amounts for 'support' or requiring ongoing monthly payments simply for the use of the program - then charging separately for specific needs for help, like Windows and computer issues, networking (connecting multiple computers), training...
With PPSS there are no monthly or annual 'support fees' so if you never heed help you will not have prepaid for something you didn't use and waste money. We've approached the issue of 'software cost' differently, by not padding the initial price with prepayment for support and by not assessing and forcing payments for support. Instead, payment is made for support when help in provided (at rates far under those levied by local IT techs and computer-repair shops. View pricing here.
Software updates on the other hand are the fixed cost of keeping the software updated with technology advancements. This ongoing cost is passed to those who benefit: pawn shops - at a nominal rate of $175/year.
The fed 'protects' servicemen and their families from usurious charges by limiting the amount of fees and interest to thirty-six percent APR (Annual Percentage Rate). each pawner's information must be entered at the DMDC website to determine active-duty certification.
Pennsylvania Rules and Regulations
The PA Secretary of Banking Pawnbrokers License Act of 1937, P.L. 200, No. 51
An oddity in the Act is including persons who 'purchase personal property with an agreement to sell it back at a stipulated price' as those who are defined as 'pawnbrokers' and required to register with the State.
Other uncommon provisions are requiring the written application to be 'under oath' and allowing people living within 500 feet of the proposes shop location to attend a public hearing.
Pawnbrokers in PA are limited to the amount that may be charged on a loan to 6% per year. Brokers are allowed to add fees for various charges (storage, insurance, investigation, and other services) but even those are restricted to no more than 2.5%/month on the unpaid balance. An additional of a $1 fee is allowed but that amount is not stipulated as per month, per pawn ticket, per pawned item...
Most states allow for forfeited items to be sold after 30 days from the due date. The State of PA requires that such items be held for 90 days.
This website does not offer legal advice. This page provides sgguestions on how to operate a pawn business in PA. The State of Pennselvania has more complete and current information. No warranties are made as to the accuracy of the information herein. Please submit suggestions by sending an email.