In Pennsylvania pawn transactions can be printed using a standard black/white ink printer and plain paper. A copy of the pawn ticket is typically submitted with the pawn-license application.
Multiple items can be added to the same pawn transaction and will be totaled on the form. The ticket is editable so any changes made will appear on the next printed pawn ticket.
Tickets are also available for resale (buy outright or secondhand buy and sell), cashing checks and issuing payday loans. Every ticket can be printed with legalities and shop's terms and conditions.
Optionally pawn contracts can be printed on Burrell forms. Special configuration is usually necessary.
Reports can be printed and delivered to police or they can be sent electronically. Today many police departments are using LEADS Online so shops in those jurisdictions can use Pawnbroker Pawn Shop Software to upload daily reports that way.
The program stores settings for business information (name, address, phone number, tax ID, email and web addresses), fees, interest rates, location - and it uses that information to complete forms and calculations and produce reports. The 'default settings' avoid having to reenter info with each new record.
More advanced features in the higher-end editions of the program include the scanning of licenses (for populating new-client records), barcodes (for finding inventory items and for filling sales invoices with item information), web cameras and fingerprinting.
Employees can be denied access to any part of the program including the ability to grant discounts at POS and voiding sales - two common methods of 'employee theft'. Each employee can also have his/her own 'till' which can be audited at any time during the shift to assure that drawer totals equal till totals.
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 the 4 editions: Intro, Deluxe Diamond and 24karat.
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 Defense Manpower Data Center (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.