Pawns

Heads up! The more frequently data is backed up the easier it is to recover from unwanted or unexpected results. Especially when first learning the program, it would be helpful to make a backup of the data before each attempt to learn something new. To recover, just restore the last backup and try again. This will also prevent accumulating numerous 'voided transactions' (which could be hidden by checking 'Hide voided pawn records' in Program Setup > Pawn Etc).

Pawn shops make money primarily in 5 ways:

  1. Fees and interest
  2. Reselling forfeited items
  3. Reselling purchased merchandise (buy outright, 'BOR', resale)
  4. Selling others' merchandise on consignment (An optional 'consignors module' is available for use with PPSS. Call 888-427-5779.)
  5. Renting shop-owned items. (PPSS includes rental management.)

What Is a Pawn?

A pawn is a possession given to a pawn-shop owner as collateral for a loan. The item can be anything of value including intangibles like titles to vehicles, property deeds, promissory notes - anything that the pawn-shop owner thinks has value and is willing to accept as loan collateral.

The term 'pawn' can also refer to the loan and may include more than one item.

The term 'Old Pawn' customarily refers to pawn jewelry from the early 1920s to the late 30s. 'Dead Pawn' refers to pawns not collected after the agreed date. Today 'dead pawn' is a 'forfeited pawn' or 'forfeit' which has exceeded the 'maturity date'.

A variety of fees and loan interest rates may apply to pawns. Each jurisdiction regulates the amount that can be levied in fees and interest. (On October 3, 2016 the feds passed the Military Lending Act limiting monthly interest to 3%. Every client must now be asked if he or she is active military or a dependent of such.)

Pawn fees and interest are set in Program Setup and are used by the program to make computations. Generally values can be changed when creating new records or editing existing records.

In PPSS, Inventory includes items pawned, bought and forfeited. Sold items remain in inventory records for reports and historical reference.


Add a New Pawn

It is best not to use any punctuation (comma, hyphen, period, etc.) when making entries.

Before entering a new pawn, create a new-client record (F5). On the new-client screen select 'Save and Add New Items' to add items, or if the client record already exists, select the client from the list of clients and press F4 or press 'New Items' on the right:

The New-Item Screen:

The Item # will be '1' for the first pawned item for the client selected. If the program warns that the Item # is a duplicate, close the screen, find the last Item # for the client, reopen the new-item screen and enter the next-highest # for the Item #. (Another solution might be to close and reopen the program.)

When the new-item form is opened, the program will have entered values for:

  • Category (if categories are being used)
  • Periodic Fees (if any)
  • Barcode
  • Item value, Item Loan Amount and Total Loaned ($0)
  • Interest Rate
  • Quantity of 1
  • Pawn Date
  • Due Date (If the loan period is thirty days, the default Due Date will be one month from the Current Date.)
  • One-Time Fees (if any)
  • Charges for Storage/Handling (if any)
  • Ticket #

Complete the New-Item Form

  1. Add a Description. Limited space on price labels and in report columns restricts descriptions to 20 characters. Use the most descriptive words to describe the item. For example: Drill then [Hammer, Impact or Push] then [Elec, Batt or Air] like 'Drill Hammer Air'.
  2. Select a Category. (if categories are being used)
  3. Enter Details. (up to 100 characters for Detailed Reports)
  4. Enter a Serial Number (if any).
  5. An 'Owner-Applied #' is any ID assigned to the item by the owner and can be any string of letters, numbers and/or characters.
  6. A Periodic Fee set in Program Setup will appear. If no fee is set in setup, $0.00 will appear in this field and can be changed.
  7. The program will suggest the next-available barcode #. Generally it is not advisable to change the barcode as law enforcement likes to see sequential numbers in barcodes (and pawn-ticket #s).
  8. Don't not make an entry in 'Item Value' unless instructed to do so by the store owner.
  9. Enter the amount of the loan in 'Item Loan Amount' field (named 'Total-Loaned' in older versions).
  10. The Interest Rate cannot be changed unless this box (further down on the page) is checked:
  11. Change the Quantity if necessary.
  12. A One-Time Fee or a Storage/Handling Fee can be entered.
  13. The Ticket Number cannot be changed.
  14. Ignore 'User-Defined Groups' (for now).
  15. Select how the loan was paid out. Use the down arrow to the right of 'Amount Is Paid By' and select.
  16. As items are entered, the 'location' (bin #, case #, shelf #, etc) of the item may be designated by clicking on the down arrow to the right of 'Transaction Location' and selecting the location. See Inventory Location.
  17. Check any applicable option:
    • Selecting 'Auto Title Loan' tells the program to print a title-loan ticket.
    • Selecting 'Buy THis Item Outright' will change the Item-Value field' to 'Selling Price' and change the 'Fees field' to 'Paid Out'. Enter the respective prices for selling and purchasing the item.
    • Selecting 'Item Is a Gun' will let the program know that the item is a gun. The Serial # must be entered in the Serial-Number field.
    • Selecting 'Item Is Gold' will activate the fields for 'Carats', 'Weight' and 'Percent Gold'. The latter field will be completed by the program when Carat is selected.
  18. Adjust any entries if necessary.
  19. Button Options:
    • Click 'Take Pic' to add a picture. (instructions)
    • Press 'Save/Close' to save the record and close the new-item screen without printing a price label or pawn ticket.
    • Choose 'Cancel' to close the screen and not save entries.
    • Press 'Another Item' to add another item to the same pawn ticket. (See below.) If you were going to add another item and changed your mind, use any of the other options that apply to items entered.
    • Click 'Save, Print Barcodes' to save the entry and print a thermal price label with a bar code (A thermal label printer is required), or
    • Click 'Save, Preview, Print Pawn Ticket' to save the entry, preview the pawn ticket and print it (by clicking on the printer icon on the print preview):

Please refer to the instructions for editing the pawn ticket after the ticket has been saved.

If loans are being made in cash from the till, The program will track the starting amount in the till and subtract amounts lent from the till balance. If the till has insufficient funds, money can be added to the till. (See Using Cash Drawers.)


Add Multiple Items to the Same Ticket

More than one item can be added to the same pawn ticket. After entering information about the first item, click on Another Item.

The first item will be saved. Enter the second item and repeat for each item. When all items have been entered, click OK to save the pawn record of click 'Save, Preview, Print' to view the ticket in print preview.

As additional items are added to the same pawn record, PPSS will compute and display the total amount to loan.

Redeem One Item

If there is only one item in the pawn transaction, select the pawn record and use 'Redeem' in the Pawns Work Area:

To redeem a single item from a pawn transaction with multiple items, select the item in the Inventory Work Area and use:

The amount shown for collection will include the loan amount plus interest and fees.

Any excess over interest and fees reduces the loan principle.

Partial Redemptions

Less than the amount shown (for interest + fees + principal) can be collected. Except for South Carolina, all redemptions are assumed to be final.

The program reports final short collections as amounts forgiven. Forgiven interest/fees and principle are reported separately in the Pawn History.

After a pawn has been renewed in the third period, forgiven amounts are erased. The software starts over, treating the pawn as new even though it has the same pawn ID.


South Carolina Provisions

If period payments are collected short in the 1st or 2nd periods, the program offers to not mark the collection final, which means that an amount unpaid will be carried over to the 3rd period. In the 3rd period, short collections are marked final.

Amounts left uncovered by this are forgiven in S. Carolina.

Renew count is increased every time a periodic payment is made - nut just when payment is made in the 3rd period.

Reminder notices trigger at due date plus 50 days (10 days less than maturity) if not sent since last periodic payment.


Pawn Records

In the 'Pawns, Checks, Loans' work area:

Each pawn transaction is listed in the table in the table...

...showing Row #, Pawn ID, Client's Name, Transaction Status (buy outright, original, redeemed, void) and Type of Transaction (Buy, Check Cash, Pawn or Payday Loan).


Change Dates

There are different 'types' of dates in pawn:

  • Pawn Date is the starting date of the loan and is set when the pawn record is first created.
    • The pawn date can be changed by selecting the pawn record in the Pawn Work Area and using 'Edit Pawn' (lower-left menu).
    • Changing the pawn date will change the Due Date and Maturity Date but will not change loan interest and fees.
  • Due Date is the scheduled date of loan repayment, interest and fees. The Due Date is the Pawn Date plus the Loan Period (which is set on the Interest Page in Program Setup).
  • Maturity Date is the Pawn Date plus the duration of the loan (which is 'Loan Maturity' on the Interest Page in Program Setup).
  • Transaction Date is the date of any subsequent activity related to a pawn: period or partial payment (extension), forfeit or redemption.
    • The Transaction Date can be changed by selecting the pawn record in the Pawn Work Area and using Pawn History (lower-left menu).
    • Changing the Transaction Date will recompute interest, fees and due date.

Delete a Pawned Item (Delete an inventory item - not a pawn record)

Warning Before deleting any record, it's advisable to make at least one backup of the data.

A pawn record cannot be deleted.

A pawned item can be deleted from inventory. Select the item in the inventory table and select 'Delete'. A warning will appear if the item is still in inventory. Click OK to delete it, or click Cancel to retain the record.

To delete all inventory prior to a given date, select Inventory on the Main Menu and select 'Batch Delete'. Enter a date and click OK. A screen will appear confirming the deletions.

When an item is deleted it is removed from displays but it will still appear on loan documents and invoices if it has been sold.

If unexpected results occur, restore the backup of the data.


How to Edit a Pawn Record

Most entries in a pawn record can be changed. Some caveats follow. After making changes, compare the information in the pawn record with that on the price label (if any) and reprint the price label if necessary.

  1. Go to the Pawns, Check, Loans work area:
  2. Select the pawn record to be edited and choose 'Edit Pawn' from the lower-left menu or right click and select 'Edit Pawn'. Alternatively just double click on the record to open the edit window.
  3. The Client ID can be changed but if the pawn was entered under the wrong name, to avoid confusion and errors, it's best to void the wrong pawn and create a new pawn record. The Item # can be changed. To find the last Item # used for the client, close the edit screen, find the client in the list and click on Items at the bottom of the screen:

    Use the next number on the edit screen.
  4. Changing the barcode manually can result in duplicates. To find the next available barcode #, open the new-item screen and look at the 'Barcode Field'. If the barcode is changed, reprint the price label. A better alternative is to use 'Assign Barcodes' under Inventory:
  5. The Interest Rate cannot be changed unless this box (further down on the page) is checked:
  6. Click 'Take Pic' to add or change a picture. (instructions)
  7. Click OK to save changes.
  8. Press 'Another Item' to add another item to the same pawn.
  9. Click 'Save, Print Barcodes' to save the entry and print a thermal price label with a bar code (A thermal label printer is required), or
  10. Click 'Save, Preview, Print Pawn Ticket' to save the entry, preview the pawn ticket and print it (by clicking on the printer icon on the print preview):


Extend Current Pawn - A client can pay accrued interest & fees for the current period to avoid forfeiture:

  1. In the Pawn Work Area:
  2. Click on the record to select it.
  3. Click on Period Payment (button on the right)
  4. Resize the window if necessary.
  5. Collect the amount displayed.
  6. Click Save to complete the transaction, or 'Save, Preview, Print' to complete the transaction and print a copy of the transaction.
  7. Click Cancel to exit the screen without completing the transaction.


Note: Checking 'Print To Receipt Printer' and pressing 'Save,Preview,Print' will print to an ink printer if an ink printer is set in Program Setup > Printers, or it will print to a thermal receipt printer if one is being used. The shop does not need a printout of the transaction because the transaction is stored in the database.

New Feature: Check 'Compute due date from most recent payment of accrued fees and interest' in Program Setup on the Interest tab to have the program restart the loan period with the full payment of interest (pro-rated or not) at any time during the loan.


  Collect Periodic or Partial Payments. (details)

  Variable Fee Schedule vs Fixed Fees (details)

 Maximum Allowable Interest can be set for 5, 10 or 15 days. (details)

 Prorated Interest is automatically computed and displayed but it can be 'turned off'. (details)

 30-Day Periods within Longer Loan Periods (Arizona and Nevada for example): Charge variable rates per 30 days within 90 or 120-day loan periods (details)

 Pawn Fees by Category - Different fees may be applied to different items by placing items in categories and assigning pawn fees to the categories. (details)

Method-of-Payment Reports: On the New-Item or Pawn-Payment Screens (Periodic and Partial Payments) use the drop-down menu (to the right of 'Amount Is Paid by') to select the Method of Payment. The shift report will show appropriate totals for each pay method separately from the sales-pay-method list.

Note that any fee (like a late fee) that can be entered manually isn't automatically applied in the program.


Redemption Notices can be printed for any pawn that reaches any number of days prior to maturity. In Program Setup > Pawn, Etc. set the number of days prior to the due date that reminders should be generated:

Checking 'Only if no payment has been collected' will cause the program to NOT print a Redemption Notice for that pawn again.

If interest is paid but not any part of the principal, the status of the pawn will be changed to 'Current'. When the pawn reaches the set number of days prior to maturity again, another redemption notice will be printed. This is required by the State of Ohio, regardless of how many times the Client pays fees that are due.


Keep It Simple and Make More Money!

Pawn-store profits come from three main sources:

  1. Fees and Interest
  2. Sales of Forfeits
  3. A Growing Customer Base

By far the most important of the three is CUSTOMERS!

No Customers -> No Loans -> No Forfeits -> No Money!

Lots of Customers -> Lots of Loans and Forfeits -> Lots of Money!


Best Route for Your Shop?

  1. Disguised costs with complex interest schemes and add-on fees will destroy a pawn store quickly.
  2. On the other hand, good deals with simple interest schedules and no hidden fees builds trust, reputation and a successful business.

For a price, some software vendors (like PPSS) can customize software to accommodate the most complex of interest/fee schedules, but why waste the money, then the time getting it approved by your state and the time having to explain it to every customer? And why risk losing repeat and referral business by socking customers with unexpected/disappointing costs?

Which puts more money in your pocket? $10 from each of 10 people or $8 from each of 20 people?

In some jurisdictions the complexity of interest/fee schedules spawn from state laws and can't be avoided. Below are the many variables built into PPSS to manage interest/fee variations.


These are the 4 ways interest and fees can be designated in PPSS, in order of hierarchy:

  1. Interest-Rate Manager (overrides any of the next 3 options)
  2. Variable Loan-Rate (overrides the next 2 options)
  3. Interest by Category (overrides the last option which is...)
  4. The general 30-day rate

Interest-Rate Manager:

Access the Interest-Rate Manager by clicking on File then Program Setup then Interest then 'More Options'.

Interest rates can be set for variable dollar amounts. The options are Finance Charge, 30-Day Rate, APR, Maximum Charge, Minimum Charge and Proration.

For example:

The Interest-Manager Page has 4 tables for 4 loan periods as well as options for setting rates for Auto Title Loan, Max 5, 10 and 15-day rates, and a reduced rate for the 1st 5 days.


Variable Loan-Rate:

Access the Variable Loan-Rate Table by clicking on File then Program Setup then Options.

Interest rates can be set for variable dollar amounts of pawns. The options are Finance Charge, 30-Day Rate, APR, Maximum Charge, Minimum Charge and Proration.

For example:

Entries made here will be ignored if entries for the same dollar amounts are entered in the Interest Manager (above), and will override any entries in the area above the Variable-Loan-Rate Table (in Program Setup on the Interest tab).


Interest by Category:

Heads Up: This feature cannot be employed if the 'Interest-Rate Manager' or 'Variable Interest-Rate Schedule' are used (Program Setup > Interest) as settings in either of those tables will supersede 'Interest by Category'. A software program must do one or the other and can't do both. (mutually exclusive) Interest by category can only be used in states where one, two or three interest rates are sufficient in Program Setup on the Interest tab:

Apply Interest by Category

A 'category' can be created with a designated interest rate then that category can be assigned to a pawned item, making it possible to literally assign any fee to any item.

  1. Select Inventory on the Main Menu, then Categories.
  2. Add a new category or edit an existing category. (It is helpful to use category names that reflect the amount of interest. Example: Guns-20 for 20% interest.)
  3. Enter the interest amount (in decimal form) in the field named '% Interest'. Save changes and exit. (It might be necessary to close PPSS and reopen it, depending upon the nature of the Windows installation on the computer.)
  4. When entering a new pawn record or editing an existing pawn record, select the applicable category for the item. PPSS will auto-compute the stipulated interest and present it on the pawn ticket.

The General 30-Day Rate:

Access the General-Rate Area by clicking on File then Program Setup then Interest.

Check any of the options at the top of the page that apply:

  • Reuse previous pawn record on repawn' avoids having to create a new pawn record for the same item(s) repawned.
  • Hide APR on pawn tickets cannot be used in some jurisdictions.
  • Include fees when calculating APR is required is some areas.
  • Add grace period to due date extends the due date by the number of days in the grace period. Forfeiture is delayed for the number of days stipulated but additional interest will be charged.
  • Show APR for actual period of loan will display the APR for the actual # of days of the loan only.
  • Loan Per Unit of Gold is a dollar amount (no dollar sign) to be loaned per penny weight, gram or ounce
  • Next Pawn Ticket Number is for program use. If it becomes necessary to manually tell the program what the next pawn-ticket number should be, enter it here, save/exit. The program will use the next pawn number then change this setting back to -1 (so it knows to ignore this setting).
  • Loan Maturity is the time elapsed before an item is forfeited. This is often the same as the Loan Period or 'Loan Charge Period'. Example: Loan Maturity could be 90 days with 3 30-day loan periods within the 90 days.
  • Layaway Percent
  • Minimum Finance Charge is a minimum, amount in dollars for every loan regardless of amount.

The remaining options are self explanatory.

For pawn loans, set the loan maturity in 'Loan Maturity (Days)' and the loan period in 'Loan Charge Period (Days)' and enter the loan rate in '1st Period 30-Day Loan Interest Rate'.

It isn't necessary to enter the loan rate for periods 2 and 3 if they are the same as period 1.

It's good practice to specify 2nd, 3rd and 4th-level rates so they will be applied in the absence of overriding rates.

'Pro-rated interest' computes interest for the actual # of days of a loan. If interest is NOT to be prorated, enter the 30-day rate here as a decimal value:


Effective Pawn Interest is displayed in reports and pawn details.

The interest rate for each item is displayed in the item record (in the Inventory Work Area).

The obvious advantages to computerization are that employees know what the fees are and losses from mistakes are reduced because the software program accurately computes and displays each fee and totals the amount of fees. Management also has complete flexibility and ease in assigning and changing rates.

Other Options:

Pawn Fees are set in File > Program Setup > Pawn Fees.

There are 22 (twenty-two) possible fees in PPSS:

When a New Pawn Record is created, PPSS uses Pawn Fees designated in Program Setup to auto-compute the total fees applicable to each pawn item and to the pawn record. The fees may be adjusted for each pawned item when the pawn record is being created.

Note that when a pawn is first created, no time has elapsed so no interest or fee would be due.


Prorated Interest

By default PPSS computes prorated interest daily. The amount is updated each time the user interacts with the pawn record.

Prorated interest is included in the amount due at redemption. The default pawn ticket will show 'Projected Period Interest' if no prorated interest has accrued (for a new pawn). The client can know the cost to redeem at loan maturity.

Turn Prorated Interest Off

To turn prorated interest 'off', Program Setup > Interest, enter the 30-day rate in this field:

Click Save/Exit to save the changes and exit Program Setup.

Turning prorated interest off will turn proration off for periodic fees.

If only periodic fees are charged (and not interest), turn proration off by entering .00001 in this field:


Add Extra Fee

Any amount can be added for any reason to an existing pawn.

  1. In the Pawns Work Area, select Add Extra Fee from the Pawns Menu:
  2. Enter the amount of the extra fee:
  3. Use the arrow to the right of 'Amount is Paid By' to select the method of payment.

The fee is added to the amount due.

If a pay method is not chosen, this fee will not be recorded at this time.


Extend the Due Date

Another way of 'renewing' an existing pawn for 1 loan period is to allow the pawn to be renewed if interest (and fees) are paid within the grace period.

Settings

  1. In Program Setup > Interest, check these options:
  2. In Program Setup > Interest, enter the # of days of grace:

Example

  • Due Date: 5/1/2018
  • Loan Period: 30 Days
  • Grace Period: to 5/16/2018
  • Fees and Interest Paid: 5/7/2018 (within the grace period)
  • Next Due Date: 6/6/2018 (May 7th + 30 days)

Variable Pawn Fees

The Variable Fee Schedule can be used for a Document Processing Fee for jurisdictions like Washington State. It overrides amounts entered for normal pawn fees. Late fees, lost ticket fees, gun fees will still apply. (The Schedule is on the Pawn-Fees Tab in Program Setup.)

The Variable Interest Rate Schedule will be automatically entered on new pawns and applied to existing pawns as they age. (The Schedule is on the Pawn-Opts Tab in Program Setup.)

Per pawn ticket fees are applied once to each new pawn. Per loan period fees are applied once per loan period after the end of each period. Fees are not prorated.


30-Day Periods within Longer Loan Periods

As an example, Arizona has a 90-day Loan Period. Nevada has a 120-day Loan Period. Within each Loan Period are 30-day periods with rates for each 30-day period. Arizona's maximum allowable rates for the 3 periods are 8%, 8% and 6%. Nevada's maximum allowable rate is 10% for each period.

In Program Setup, on the Pawn Etc., make the following settings:

  1. Loan Period (Days): 30 (This is the 30-day period within the longer loan period.)
  2. Enter the applicable rate for periods 1, 2 and 3 (shown here as 8%, 8% and 6%).
    • Use decimal form.
    • For Nevada's 120-day period, the rate for the 4th period will be the same as for the 3rd period.
    • If all rates are the same, only enter the rate for the 1st period.
  3. To prevent prorated interest, enter the 1st-period rate in the field named 'no proration' (to the right of the field).

Another way to vary I% for specific items is to Set Rates for Categories and assign the category to items. If rates are set for the 2nd and 3rd periods, Category Rates will not apply.

If a Loan Period other than 30 days is needed, set 'Loan Period (Days)' to the number of days and enter the I% for the period in the 1st-Period Field.

The shop is responsible for determining when a loan period has expired and for taking appropriate action at that time.


Pawn Forfeits

A pawn shop holds pawned items as long as the pawn is active (as long as the interest on the pawn is current). The actual term of the pawn contract is dictated by the jurisdiction governing the transaction.

Pawned items that are not redeemed within the # of days of the pawn loan (plus holding period if applicable) are forfeited (become the property of the shop) and can be sold. (Authorities in your jurisdiction can tell you what the required holding period is before a forfeited item can be sold.)

The program will continue to accrue interest until a pawn is forfeited.

Automatic Forfeiture Alerts: Check the option 'Process forfeitures automatically daily' in Program Setup > Pawn Etc to activate automatic forfeiture alerts. Each day, going to the Pawns Work Area -

will present a message stating how many forfeitures are pending and ask if they are to be processed. If they aren't processed the program will ask again the following day.


Program Setup for Forfeits

  1. Click on File > Program Setup, then click on the Interest tab. Enter the # of days to hold an item before selling.
  2. Click OK to save your entry and close Program Setup.
  3. Close the program and reopen it.

Forfeit a Pawn

  1. Select Pawns, Checks, Loans in the Work Area Menu:

  2. Resize the window if necessary.
  3. Click on the Pawn Record in the Main Table:

  4. On the right select Forfeit -
  5. Normally it is not necessary to print a forfeit transaction but if one is needed, check 'Print To Receipt Printer'. (An ink printer or a thermal receipt (not label) printer must be installed, working correctly and designated in Program Setup > Printers.)
  6. Change the date if necessary.
  7. Check 'Abnormally Terminate (Close) This Pawn Transaction' to terminate the pawn prior to the due date.
  8. Click Save to save the transaction or use 'Save, Preview, Print' to preview the full-page forfeiture document with the option to print.

A forfeited item becomes the property of the shop and retains the same Item ID.

After the holding period (if any) the program will allow forfeited item(s) to be entered on the new-sale screen and sold.

Print a price label for a forfeited item.

When an item is forfeited (and the holding period expires, if any) a record of the forfeit can be found in the Inventory Work Area.

  1. Click on the blue Labels button at the top.
  2. In the 'Style' section make sure 'Thermal Labels' is checked (if using a thermal label printer).
  3. Double click on the item record in the Inventory Work Area to open it's edit screen.
  4. Enter the price in 'Item Value'.
  5. Click 'Save, Print a Thermal Label'.

Alternate Forfeit Method

  1. Select a Client is the Clients Work Area.
  2. Click on the 'Pawn Button' at the bottom:
  3. Select the pawn to forfeit.
  4. Click on 'Forfeit Pawn' on the right:
  5. Check 'Print To Receipt Printer' if applicable. (An ink printer or a thermal receipt (not label) printer must be installed, working correctly and designated in Program Setup > Printers.)
  6. Change the date if necessary.
  7. Check 'Abnormally Terminate (Close) This Pawn Transaction' to terminate the pawn prior to the due date.
  8. Click Save to save the transaction or use 'Save, Preview, Print' to preview the full-page forfeiture document with the option to print.

After the holding period (if any) PPSS will allow forfeited item(s) to be entered on a new-sale document and sold.


Unforfeit

Change the status of a forfeited pawn to 'current' by selecting the pawn in the Pawn Work Area and clicking on Unforfeit in the lower-left menu.


Maximum Allowable Interest

Most jurisdictions restrict the amount of interest that may be charged.

In PPSS, click on File then Program Setup then Interest.

There are two places where maximum allowable interest can be entered:

  1. The common entries are in these fields for 'period loan interest rate':

    If no entries are made for the 2nd and 3rd periods, the value entered for the 1st period will apply to the 2nd and 3rd periods.
  2. Where allowed by law max rates can be set for 5-day, 10-day and 15-day rates in these fields.
    Enter max allowable interest for the three time periods (5, 10 or 15 days). If the pawn is redeemed in 5 or less days, the maximum interest that can be charged is as entered. After 15 days the interest charged has no maximum. Leave the settings at 0 to disable this feature.

Pawns and Purchased Items On Hold

Authorities routinely require that an item pawned or bought outright be held for a stipulated number of days.

Reports can show which items are approaching the end of the holding period and/or items which have exceeded the holding period.

To generate an On-Hold Report:

  1. On the Main Menu click on Reports:

  2. Select the Inventory tab.
  3. Make sure all checks are removed from all boxes (except 'Quantity greater than 0').
  4. Check 'On Hold':

  5. Make other settings on the page to define which items should be included in the report.
  6. Choose in which order the items should be listed in the report in the 'Sort-By' section.
  7. Press 'Print Detailed List' or 'Print Brief List' to preview the report.
    • Click on the printer icon to print the report (and follow the steps in Windows for completing the print job).

  8. Press 'View the Report' to view the item on hold in the Main Table.

If the report includes unwanted items or doesn't include wanted items, close the report and make additional settings on the report page to adjust the report content.


Partial Payment

If the client wants to make a partial payment, select the pawn record in the Pawns Work Area and click on 'Partial Payment' (on the right):

(Resize the screen if necessary. Windows should remember the new size and open this screen (or any other) using the new size.)

Enter the amount of the payment. Click Save to complete the transaction, or Click 'Save, Preview, Print' to save the transaction and print it. Otherwise click 'Cancel' to close the window and not save any entry.

Note: Checking 'Print To Receipt Printer' and pressing 'Save,Preview,Print' will print to an ink printer if an ink printer is set in Program Setup > Printers, or it will print to a thermal receipt printer if one is being used. The shop does not need a printout of the transaction because the transaction is stored in the database.


Period Payment: (Extend the Pawn)

A 'Period Payment' is full payment of accrued interest and fees to avoid forfeiting the pawn (or 'extending' the pawn). Typically a period payment is for one loan period but can be more.

See Partial Payment or Payment in Full for other options.

To process a period payment click on 'Period Payment':

A window appears displaying the amount to collect. Click Save to complete the transaction. Click 'Save, Preview, Print' to save the transaction and print it. Click 'Cancel' to close the window and not save any entry.

Note: Checking 'Print To Receipt Printer' and pressing 'Save,Preview,Print' will print to an ink printer if an ink printer is set in Program Setup > Printers, or it will print to a thermal receipt printer if one is being used. The shop does not need a printout of the transaction because the transaction is stored in the database.

New Feature: Check 'Compute due date from most recent payment of accrued fees and interest' in Program Setup on the Interest tab to have the program restart the loan period with the full payment of interest (pro-rated or not) at any time during the loan.


Snail Mail Pawn-Due Notices

PPSS prints notices of pawns coming due for mailing to clients.

The default number of days to notify is 14. A different value can be set in Program Setup on the Pawn Etc. page.

Set the number of days and check the box 'Only if no payment has been collected', if applicable.


The Paper

To save on paper, notices are printed 3 per page on plain perforated 8.5" x 11" paper.


The Envelope

The envelope to be used is a standard #9.

There are 2 windows on the envelope. The top window displays the shop name and address and the bottom window displays the recipient’s name and address (both of which are printed on the pawn notice).

The size and placement of the Top Window:

Size of Window: 1" x 4-1/8"

From Left: 3/8"

From Bottom: 2-3/16"

The size and placement of the Bottom Window:

Size of Window: 1-1/8" x 4-1/8"

From Left: 3/8"

From Bottom: 5/8"

The placement of the windows can vary so it is important to purchase envelopes in this format.

The envelope can be regular gun or self seal.


Suppliers

The paper and envelopes might be available from local office supply stores.

Paper:

https://www.mybinding.com


30-Day Periods within Longer Loan Periods

As an example, Arizona has a 90-day Loan Period. Nevada has a 120-day Loan Period. Within each Loan Period are 30-day periods with rates for each 30-day period. Arizona's maximum allowable rates for the 3 periods are 8%, 8% and 6%. Nevada's maximum allowable rate is 10% for each period.

In Program Setup, on the Pawn Etc., make the following settings:

  1. Loan Period (Days): 30 (This is the 30-day period within the longer loan period.)
  2. Enter the applicable rate for periods 1, 2 and 3 (shown here as 8%, 8% and 6%).
    • Use decimal form.
    • For Nevada's 120-day period, the rate for the 4th period will be the same as for the 3rd period.
    • If all rates are the same, only enter the rate for the 1st period.
  3. To prevent prorated interest, enter the 1st-period rate in the field named 'no proration' (to the right of the field).

Another way to vary I% for specific items is to Set Rates for Categories and assign the category to items. If rates are set for the 2nd and 3rd periods, Category Rates will not apply.

If a Loan Period other than 30 days is needed, set 'Loan Period (Days)' to the number of days and enter the I% for the period in the 1st-Period Field.

The shop is responsible for determining when a loan period has expired and for taking appropriate action at that time.


List Pawns and Profit for each Client

In the Client's Work Area, on the right there are two buttons: Account History and Current Items listing all pawns from the chosen client and showing profit made on each pawn and overall profit for the shop.

'Current Items' excludes redeemed and forfeited pawns.

'Pawn History' (lower-left menu in the Pawn Work Area) shows all transactions that apply to the chosen pawn:

  1. Loan ID
  2. Transaction Type
  3. Transaction Date
  4. Transaction Amount
  5. Loan Amount
  6. Loan Date
  7. Current Pawn Status
  8. Pay Method

Press one of the print options or press Close.


Inventory Pictures

Go here for client pictures.

One picture of an Inventory Item (pawn, rental, resale or retail) may be added to its record (no larger than 620 x 700 pixels).

Program Setup

  1. Pictures should be saved on an external storage device to avoid losing them to a hard-drive failure. The device can be a USB (stick, flash drive, pen drive, etc) or an external hard drive. Plug an external storage device into a USB port. Windows will assign a 'drive letter' to the drive, something like 'E:'. (If the drive is ever removed and plugged back in, be sure to use the same USB port.)
    1. If the drive is not showing, go to the Desktop and double click on 'This PC' (or Computer or My Computer).
    2. Open the external drive by double clicking on it.
    3. In the window, right click in the white area and select New then Folder.
    4. Give the folder a name like 'images'.
    5. Press Enter.
    6. Close the drive window.
  2. In the program go to File then Program Setup then Inventory.
  3. To the right of 'Default Picture File Location' click on the Find-Location button.
  4. Navigate to the external drive. The path might look something like this:
  5. Click Open.
  6. Save/Exit.

Add a Picture -

  1. Open the appropriate screen using the function keys:
    • For a new pawn for an existing client, press F4, select the client and press OK.
    • For a new pawn and a new client press F5 to create the client record. Complete information about the client and press 'Save and Open New Pawn'.
    • For an existing pawn select the pawn record in the Pawns-Checks-Loans table then click on 'Edit Pawn' at the lower left.
    • For a buy-outright item (purchased from an individual), press F4, check 'Buy This Item Outright' (lower left) and complete information about the item.
    • For a new retail item (not purchased from an individual but a supplier, wholesaler, distributor, etc) press F6.
    • For a rental press F6 and check 'Rental' at the top.
  2. Click Take Pic.
  3. Click Preview.
  4. Enter file name. Suggestion: last-first-ID -
  5. Choose directory to save the file in.
  6. Click Snapshot.
  7. Close the Web Cam interface.
  8. Click Show Picture.

View an Existing Picture

  • To view an item at point of sale, press F7 to open the new-sale screen. Enter the item (by scanning a barcode, selecting the item from a list of items, entering the Item ID or entering a unlisted item) then click on 'View Item Picture'.
  • To view an item in inventory, select the item in the Inventory table, choose 'Edit Item' at the lower left then press 'Show Picture'.
  • To view a pawned item, select the record in the Pawns-Checks-Loans table, choose 'Edit Item' at the lower left then press 'Show Picture'.

Change Picture

Using PPSS, take another picture to replace the existing picture. It is possible to click on Picture File to switch back to a previous picture.

Using any picture-taking device, take a new picture and save it to the images folder, using the same filename for the picture that is being corrected. The image size should be no larger than 620 x 700 pixels.


Create Reports for Pawns in PPSS

PPSS Pawn Reports can be very specific, including only those pawns desired in the report and excluding all unwanted pawns.

Pawns may be identified by one of more of the following:

Amount
Buys
Cashed Checks
Client
Current Pawns
Due Date
Forfeits
Guns
Not Guns
Past Due Unforfeited
Payday Loans
Record Date
Redeemed

The reports may be sorted by:

Due Date
Record Date
Record Number

The reports may be printed (with a print preview prior to printing) or the results of the report may be viewed in the Main Table in PPSS.

How to Create a PPSS Pawn Report

Click on Reports:


Select Pawns:


Make settings to include and exclude pawns. For example, to create a report which includes Current Pawns with Guns for All Clients, check these options:


More 'filtering' can be done by adding more settings. For example, by checking Due Date and entering the dates 10/7/2008 and 11/14/2008, only Current Pawns which are Guns for All Clients - Due from 10/7/2008 through 11/14/2008 will be included in the report.

Note that a box must be checked for the entered ranges to apply.

Sort the Report

Check an option for how the report should be sorted:


Report Output

Print the report by pressing the Print the Report button.

On the print-preview screen, click the printer icon to print:

View the report in the Main Table by pressing the View the Report button.

Pawn Recap Report is based upon pawn records and is different from the Sales Recap Report which is based upon sales records.

A recap report can be produced for any period of time to include:

  • Buy Outrights
  • Cash In and Out by Payment Method
  • Forfeits
  • Interest Applied
  • Paid Loans Collected
  • Paid Loans Paid Out
  • Pawn Activity per Clerk
  • Pawn Payments Received
  • Pawns (list)

To create the report, follow the steps above for setting 'filters' then press the Pawn Recap button:

On the following screen, leave all options checked to see all available information or uncheck unwanted information:

Click Preview/Print to preview the report.

The pawn recap reports both interest applied and interest paid for. Profit/loss does not include interest applied.

Click the printer icon to begin the printing process.


By default the program will display all possible transaction statuses: buy outright, check made good, check returned, forfeited, loan defaulted, loan repaid, not open, not pawn, open, original, previous renew, previous reopen, redeemed, renewed, reopened, written off, zero value.

If the computer takes a long while to populate the Pawns Work Area, check this box...

...to reduce the status reporting to fewer variables.

With extended values turned off:

  • 'Not Open' will include Previous Renew, Previous Reopen and Redeemed.
  • 'Not Pawn' will include Buy Outright and Zero-Value Pawn.
  • 'Open' will include Renewed, Reopened and Original.

These statuses remain the same: Check Made Good, Check Returned, Forfeited, Loan Defaulted, Loan Repaid, Void, Written Off.


Pawn Tickets (Pawn Forms)

What Is a Pawn Ticket?

A pawn ticket is a generally described as a receipt given to a client by a pawn broker for property pledged as collateral against a loan. When signed by an authorized pawn-shop representative and the client, the form actually becomes a legal document and a bona fide record of the transaction which includes:

  • Store name and contact information
  • Client name, contact and identifying information (height, weight, hair/eye color, race, sex, birth date, SSN, two types of ID, employer and phone, and if applicable: military DMDC (Defense Manpower Data Center) ID, licensed firearms dealer and FFL (Federal Firearms License)
  • Pawn ticket #, date and time of issue and due date
  • Items pawned, item IDs, serial #s, pawn amounts, categories and details (if any)
  • Fees and interest in dollar amounts
  • APR where required
  • Signatures of shop rep and client
  • Terms and conditions

When redeeming pawns the ticket and identification must be presented by the same person unless otherwise stipulated. (A lost ticket can be reprinted with satisfactory identification.)


What Is the Purpose of Pawn Tickets

The functions of pawn tickets are:

  • Identify the parties involved
  • Describe the client and pawned items in detail (including pictures available in PPSS Deluxe and higher editions)
  • Establish legalities and agreements
  • Dictate which actions are to be taken and when
  • Aid authorities in recovering stolen property and convicting criminals

Given the scope and importance of the information contained in pawn tickets, it's essential to point out that the shop owner is responsible for knowing all requirements and including them in his or her pawn ticket. PPSS and its representatives make no representations as to the content of forms used in the program. A state's website for pawn regulations can be found by search 'pawn regulations + state name'.

Given the importance of pawn tickets it is advisable to print and retain a copy of each ticket to avoid loss of records if electronic data is lost. Computers crash, viruses attack, lightning strikes and employees mess up so back up.


Pawn Tickets on Plain Paper

In all states except Florida, pawn tickets can be printed on plain paper using a standard black/white ink printer.

  • Saves the average store $500-$1000/year on preprinted pawn forms
  • Avoids wasting preprinted forms that become useless when changes are required
  • Allows for customization to satisfy store and legal requirements
  • Prints changes on the next ticket printed

The generic tickets in PPSS can be viewed by creating a new pawn (or buy outright or cashed check or payday loan) then selecting the option to print the ticket.

Plain-paper tickets print on a full sheet of paper. For a nominal charge, a ticket can be designed for your shop to print on half-height paper, 8.5" wide and perforated every 5.5". Here's a convenient source with free shipping for the paper: https://www.officesupply.com/office-supplies/paper-pads/computer-paper/single-part-computer-paper/printworks-professional-perforated-custom-paper/p288843.html


Pawn Ticket Filename and Location

The program reads the code contained in text files to render tickets (for pawn, buy outright, payday/title loans and check cashing).

The text files are stored in the program folder, C:\PPSS. The default pawn ticket file, for example, is named pawn-ticket.txt and it resides in C:\PPSS.

In PPSS Program Setup (on the Pawn Etc. page) the path to the ticket and its location are set:

If any changes are made to the filename or location, the Program Setup path must be changed to the new filename/location.


Set Pawn Ticket Number: By default PPSS will number the first pawn ticket as 1. The starting pawn-ticket number can be set in Program Setup on the Interest tab:

If the program suggests a pawn-ticket number that has already been used, find the highest ticket number in use and on the new-item screen, enter the next highest number.


Customized Pawn Tickets

Each U.S. state and all local jurisdictions have their own requirements for what must appear on an 'approved' pawn ticket. PPSS includes built-in generic tickets for illustrative purposes.

Customized forms are available. Please contact support for assistance.


Configuring the Pawn Ticket for Plain Paper

Disregard the remainder of this page if you will not be editing the pawn ticket.

All forms reside as text files in the PPSS program folder on the C: drive (C:\PPSS). Clicking on them opens them in text editors like Notepad and Wordpad, ready for editing.

In PPSS, editable tickets (forms) are also available on plain paper for buy outrights, check cashing, payday loans and pawn-due reminders.


Opening the Pawn-Ticket File for Editing

No special software program is needed to edit the Pawn Ticket. It can be edited with any simple text editor. Windows includes the text editor Notepad. A way to open Notepad is to type 'notepad' in the search box to the right of the Start Button and select 'Notepad'.

  1. Open Notepad. (Maximize the window if desired.)
  2. Click on File (upper left in Notepad).
  3. Select Open. The 'Open' window will appear.
  4. Click on C: or Local Drive C: or something similar denoting the C: drive. If the left-side panel is present, it may look something like this:

  5. There are a variety of ways Windows will display the 'Open' window. If the panel isn't present or if C: Drive isn't readily apparent, click on 'Computer'. If you continue to experience difficulty, click on the Start Button. Click on Help and type 'files and folders' in the Windows search box. Click on 'Working with files and folders'.

  6. Click on the PPSS folder.
  7. Click on pawn-ticket.txt. Other options: pawn-ticket-narrow.txt (allows more space at the bottom for text); and pawn-ticket-narrow-boxes.txt (places box borders around entries). These tickets may be viewed in PPSS by changing the path to the ticket(s). Go to File, Program Setup, Pawn Etc. and select the pawn ticket there. For example, select the 'pawn-ticket-narrow.txt' file. Click Save/Exit then preview a pawn ticket in the program:

  8. Click on File.
  9. Select Save As.
  10. For 'File name' enter pawn-ticket.txt
  11. Click Save.
  12. Create or view a pawn in the program and select 'Print Ticket'.

Editing the Pawn Ticket

The Pawn Ticket is constructed using 'boxes' with names. In this example of a box, the box contains the color Black and the name of the box is Hair Color:

If the client had blonde hair and that was noted in his/her record, the box would contain the word Blonde when the ticket prints.

There must be a separate box placed in the code for every piece of information that is to appear on the ticket: name, address, phone #, height, weight, license #, shop name, date, invoice #, pawn ID, terms, conditions, fees, etc. (See Pawn Ticket Elements below. Click the browser's Back Button to return here.)

Boxes can be different sizes (in width and length). For example, a box containing a paragraph of words will be larger (wider and longer) than a small box for the client's weight. Boxes can have borders (as shown above), or not.

Boxes are positioned on the Pawn Ticket by values (for top and left margins) entered.

As an example, this is the line in pawn-ticket.txt that controls the position and content of the 'box' for the Ticket Number:

25~~2500~~8200~~220~~1500~~Ticket~~-1~~0

  • The number 25 is the number of the line. The next line will be numbered 26 of course. Each line will have its own number and line numbers must be sequential.
    • Line numbers must not be duplicated.
    • Lines starting with // and ending with // (not shown here) are 'internal notes'. They are not used by PPSS in printing the form. They are used as notes to anyone who might view or edit the code.
  • The characters ~~ separate line entries. These characters won't be edited. In the example above, the 'line entries' that will be edited are 25, 2500, 8200, 220, 1500, Ticket, -1 and 0.
  • The next 4 characters (2500 in the above example) control the 'top margin' or the space (measured in twips) from the top of the page down to the box. Increasing the number pushes the box further down the page and vice versa.
    • Large changes in the numbers are necessary to see significant changes in position.
  • The next 4 characters (8200 in the above example) control the left margin or the spacing from the left edge of the paper to the box. Increasing the number pushes the box further across the page and vice versa.
  • The next 3 characters (220) and the 4 characters after that (1500) set the length and width of boxes. All boxes that contain few characters (like eye/hair color, license #, etc.) should have the same length of 220 for uniformity. In this example, box heights are 220 which provides correct line spacing between boxes.
  • In the example, the name of the box is 'Ticket'. When PPSS prints the form it will place the ticket # in this box and the ticket # will appear on the printed page right after 'Ticket'.
  • The -1 only means that there is no relationship with the database. Just ignore it.
  • Change the 0 at the end of the line to 1 to place a border around the box.

The unit of measure is a 'twip'. There are 1,440 twips per inch so it takes large changes in the number to see significant movement in the position of the boxes.

There are 2 ways to make an entry on the form with lines:

  1. Double lines - The first line names the box, and positions the name of the box on the form. The second line defines the size of the box and positions it on the form (usually right after the box name). Example:
    • 25~~2500~~8200~~220~~1500~~Ticket~~-1~~0
      26~~2500~~9000~~220~~1400~~~~47~~0
  2. Single lines adding only text to the form. Example:
    • 1~~1100~~5000~~220~~2000~~Text Goes Here~~20~~0

Add Bold Lettering by adding an 8th-position value of 1. (Be sure to use a tilde (~) and not a hyphen. To enter a tilde, press the shift key and the key immediately to the left of the '1' key. There must always be 2 tildes (~~) between each set of numbers.)

No bold lettering (last number is 0):

  • 46~~9500~~7300~~220~~1600~~APR~~-1~~0~~0

Bold lettering (last number is 1):

  • 46~~9500~~7300~~220~~1600~~APR~~-1~~0~~1

Change Font Size by adding ~~## to the end of any text string. '##' can be from 7 to 40. (Be sure to use a tilde (~) and not a hyphen. To enter a tilde, press the shift key and the key immediately to the left of the '1' key.) There must always be 2 tildes between each set of numbers.)

Rotate Text by adding ~~## to the end of any text string. '##' can be from 0 to 360. (Be sure to use a tilde (~) and not a hyphen. To enter a tilde, press the shift key and the key immediately to the left of the '1' key.) There must always be 2 tildes between each set of numbers.)

Rotate Text 270 degrees:

  • 46~~9500~~7300~~220~~1600~~APR~~-1~~1~~270

By default APR (Annual Percentage Rate) is based upon 365 days:

(Fees and interest)/(loan amount)=base percent
(base percent)/(loan period)=daily percent
(daily percent) x 365 = APR

APR can be based upon 30-day months, or 360 days. In Program Setup on the Interest tab, check this box to base APR on 360 days per year (or 30-day months):

If APR is to be displayed on the pawn ticket, edit the pawn ticket and enter these lines after 45~~9200~~9100~~220~~1100~~~~49~~0:

  • 46~~9500~~7300~~220~~1600~~APR~~-1~~0
  • 47~~9500~~9100~~220~~1100~~~~38~~0

In this example at the bottom of pawn-ticket.txt:

52~~11100~~1400~~660~~8900~~Any personal property...~~-1~~0

  1. 52 = line number
  2. 11100 = The box (containing the text) appears on the page 11,100 twips from the top of the page
  3. 1400 = The box is 1,400 twips to the right of the left side of the page.
  4. 660 = The box is 660 twips in height.
  5. 8900 = The box is 8900 twips in width.
  6. The text, "Any personal property... no further notice is necessary." is located between (8900~~) and (~~-1~~0)


Pawn Ticket Elements

In the example (26~~2500~~9000~~220~~1400~~~~47~~0), the number 47 determines that the ticket # will be placed in that box. Below is a list of variables that can be placed in boxes (and positioned on the ticket). For example, the ticket is listed as 47 - Loan ID (Ticket #).

To change the content of a box, change the numbers that appear (where 47 is positioned) to the desired value.

Different sets of custom User-Defined Groups can be created and accessed using these codes.


0 - Client Name
1 - Client Complete Address
2 - Street 1
3 - Street 2
4 - City
5 - State
6 - Zip
7 - Phone 1
8 - Date Of Birth
9 - Height
10 - Weight
11 - Sex
12 - Race
13 - Hair Color
14 - Eye Color
15 - ID 1
16 - ID 2
17 - Item List
18 - Employee Make New Pawn
19 - Employee Redeem Pawn
20 - Shop Name
21 - Shop Complete Address
22 - Street 1
23 - Street 2
24 - City
25 - State
26 - Zip
27 - Loan Date
28 - Due Date: 1st period
29 - Loan Time
30 - Redeem Date (actual date redeemed)
31 - Forfeit Date (actual date forfeited)
32 - Next Payment Due
33 - Currently-Accrued Interest
34 - Accrued Fees
35 - 33 + 34
36 - Loan Amount
37 - 33 + 34 + 36 (Payments Collected - Current actual cost to redeem)
38 - Interest Rate - APR for current actual charges
39 - Lost Ticket Fee
40 - Late Fee
41 - Redemption Amount - if the pawn has been redeemed
42 - Gun Fee
43 - Employer
44 - Employer Phone
45 - ID 1 Type
46 - ID 2 Type
47 - Loan ID (Ticket #)
48 - Grace Period + Hold Period 102 - Maturity Date + Grace Period
49 - Interest Accrued for 1 Period
50 - Shop Phone Number
51 - Business Email
52 - Business Web Address

53,153,253,353,453,553,653,753,853,953,1053,1153,1253,1353,1453,1553,1653,1753,1853,1953 - Firearm Gauge (UDG 5)
54,154,254,354,454,554,654,754,854,954,1054,1154,1254,1354,1454,1554,1654,1754,1854,1954 - Firearm Type (UDG 6)
55,155,255,355,455,555,655,755,855,955,1055,1155,1255,1355,1455,1555,1655,1755,1855,1955 - Firearm Barrel (UDG 7)
56,156,256,356,456,556,656,756,856,956,1056,1156,1256,1356,1456,1556,1656,1756,1856,1956 - Firearm Action (UDG 8)
57,157,257,357,457,557,657,757,857,957,1057,1157,1257,1357,1457,1557,1657,1757,1857,1957 - Firearm Finish (UDG 9)
58,158,258,358,458,558,658,758,858,958,1058,1158,1258,1358,1458,1558,1658,1758,1858,1958 - Jewelry Size (UDG 10)
59,159,259,359,459,559,659,759,859,959,1059,1159,1259,1359,1459,1559,1659,1759,1853,1959 - Jewelry Type (UDG 11)
60,160,260,360,460,560,660,760,860,960,1060,1160,1260,1360,1460,1560,1660,1760,1860,1960 - Jewelry Metal (UDG 12)
61,161,261,361,461,561,661,761,861,961,1061,1161,1261,1361,1461,1561,1661,1761,1861,1961 - Jewelry Gender (UDG 13)
62,162,262,362,462,562,662,762,862,962,1062,1162,1262,1362,1462,1562,1662,1762,1862,1962 - Jewelry Style (UDG 14)
63,163,263,363,463,563,663,763,863,963,1063,1163,1263,1363,1463,1563,1663,1763,1863,1963 - Jewelry Karat (UDG 15)
64,164,264,364,464,564,664,764,864,964,1064,1164,1264,1364,1464,1564,1664,1764,1864,1964 - Stone 1 Shape (UDG 16)
65,165,265,365,465,565,665,765,865,965,1065,1165,1265,1365,1465,1565,1665,1765,1865,1965 - Stone 1 Color (UDG 17)
66,166,266,366,466,566,666,766,866,966,1066,1166,1266,1366,1466,1566,1666,1766,1866,1966 - Stone 1 # Stones (UDG 18)
67,167,267,367,467,567,667,767,867,967,1067,1167,1267,1367,1467,1567,1667,1767,1867,1967 - Stone 1 Carat (UDG 19)
68,168,268,368,468,568,668,768,868,968,1068,1168,1268,1368,1468,1568,1668,1768,1868,1968 - Stone 2 Shape (UDG 20)
69,169,269,369,469,569,669,769,869,969,1069,1169,1269,1369,1469,1569,1669,1769,1869,1969 - Stone 2 Color (UDG 21)
70,170,270,370,470,570,670,770,870,970,1070,1170,1270,1370,1470,1570,1670,1770,1870,1970 - Stone 2 # Stones (UDG 22)
71,171,271,371,471,571,671,771,871,971,1071,1171,1271,1371,1471,1571,1671,1771,1871,1971 - Stone 2 Carat (UDG 23)
72,172,272,372,472,572,672,772,872,972,1072,1172,1272,1372,1472,1572,1672,1772,1872,1972 - Pawner Identifying Marks (UDG 24) (not for Florida)
73,173,273,373,473,573,673,773,873,973,1073,1173,1273,1373,1473,1573,1673,1773,1873,1973 - Item Owner Applied Number
74,174,274,374,474,574,674,774,874,974,1074,1174,1274,1374,1474,1574,1674,1774,1874,1974 - Item Serial #
75,175,275,375,475,575,675,775,875,975,1075,1175,1275,1375,1475,1575,1675,1775,1875,1975 - Item Brand (UDG 1)
76,176,276,376,476,576,676,776,876,976,1076,1176,1276,1376,1476,1576,1676,1776,1876,1976 - Item Model (Item Details)
77,177,277,377,477,577,677,777,877,977,1077,1177,1277,1377,1477,1577,1677,1777,1877,1977 - Item Description
78,178,278,378,478,578,678,778,878,978,1078,1178,1278,1378,1478,1578,1678,1778,1878,1978 - Item Category
79,179,279,379,479,579,679,779,879,979,1079,1179,1279,1379,1479,1579,1679,1779,1879,1979 - Jewelry Weight (UDG 2)
80,180,280,380,480,580,680,780,880,980,1080,1180,1280,1380,1480,1580,1680,1780,1880,1980 - Stone 1 Weight (UDG 3)
81,181,281,381,481,581,681,781,881,981,1081,1181,1281,1381,1481,1581,1681,1781,1881,1981 - Stone 2 Weight (UDG 4)
82,182,282,382,482,582,682,782,882,982,1082,1182,1282,1382,1482,1582,1682,1782,1882,1982 - Item Price (amount loaned for pawn)
136,236,336,436,536,636,736,836,936,1036,1136,1236,1336,1436,1536,1636,1736,1836,2936,2036 - item number
220,320,420,520,620,720,820,920,1020,1120,1220,1320,1420,1520,1620,1720,1820,1920,2020,2120 - Quantity
221,321,421,521,621,721,821,921,1021,1121,1221,1321,1421,1521,1621,1721,1821,1921,2021,2121 - Model
222,322,422,522,622,722,822,922,1022,1122,1222,1322,1422,1522,1622,1722,1822,1922,2022,2122 - Network location
83 - Check Net Payout
84 - Loan Net Payout
85 - Buy Outright Net Payout
86 - Total Of Payments Received
87 - Projected Redeem Amount at end of 1st Period
88 - Interest + fees for 1st period
89 - Redeem Amount Plus Late Fees If Pawn Is Redeemed During Grace Period
90 - APR For Charges at End of First Period as a Percent
91 - Due Date: 2 periods
92 - Due Date: 3 periods
93 - Due Date: 4 periods
94 - maturity date plus 4 periods
95 - maturity date plus 5 periods
96 - maturity date plus 6 periods
97 - Fees + Loan Amount - Payments
98 - Pawn Payments
99 - Payday Loan APR
100 - Net Payday Loan Paid Out
101 - Direct-Buy Total Payout
102 - Loan Due Date + grace
103 - Amount To Redeem At Maturity Plus Grace
104 - Projected Redeem Amount at end of 2 Periods
105 - Projected Redeem Amount at end of 3 periods
106 - Fees - Partial and Periodic Payments (includes 'Add Extra Fee')
107 - today's date
108 - total of payments received
109 - Non-Prorated Finance Charge for period 1
110 - Non-Prorated Finance Charge for period 2
111 - Non-Prorated Finance Charge for periods 3 and 4
112 - Projected Redeem Amount at end of 4 periods
113 - Projected Interest Accrued in Period 1
114 - Projected Interest Accrued in Period 2
115 - Projected Interest Accrued in Periods 3 and 4
116 - Projected Interest Accrued in first 2 Periods
117 - Projected Interest Accrued in first 3 Periods
118 - Projected Interest Accrued in first 4 Periods
119 - All Fees Except Lost Ticket Fees, Late Fees, and Gun Fees
120 - Periodic Fees + Storage
121 - Storage
122 - Storage Rate (from New Pawn)
123 - Periodic Rate Per Month
124 - Interest + fees for 1st 2 periods
125 - Interest + fees for 1st 3 periods
126 - Interest + fees for 1st 4 periods
127 - Loan Maturity Date
128 - Email Address
129 - Loan Amount + Late Fee
130 - Late Fee
131 - Lost Ticket Fee
132 - Setup/service fee
133 - Supplemental gun fee
134 - Add extra fees
135 - Check cashing percent fee
137 - Projected Redeem Amount at end of 5 periods
138 - most recent period payment date or loan date
139 - previous loan id for repawn
140 - loan id formatted for barcode
141 - buy price for buy outright (lprice)
142 - loan date plus hold for buy outright
143 - projected interest at end of 1st period without grace
144 - Federal Firearm License number
145 - applied notice fee
146 - current principal+storage+interest
147 - current storage+interest
148 - previous loan date
149 - 1st DL state prefix
150 - 2nd DL state prefix
151 - maturity date interest
152 - pawn status
183 - principle + interest + one time fees due at maturity
184 - storage fee at maturity
185 - Apr at maturity
186 - loan maturity days
187 - total periodic fees without storage
188 - demand date for forfeiture notices
189 - times renewed
Burrell Form BPC 10-3809 PA


Gun-Log Codes

1 - serial #
2 - idate
3 - udg 1, or 2 (brand), depending on which location version is in use
4 - udg 4 caliber
5 - udg 3 action
6 - source name, address
7 - loan id
8 - Owner Applied #
9 - Details
12 - receiver name, address
13 - odate
19 - FFL # for dealers, dob for others
21 - store name
22 - store address, city, state, zip
23 - store FFL
24 - report period
25 - date report generated
26 - model


References

  • Amount Given to You Directly: 36
  • Annual Percentage Rate %: 38 APR for Current Charges, 90 APR for 1st-Period Charges
  • Brady Bill: Gun Fee 42
  • Finance Charge $: 88 = Interest + Fees, 49 = Interest for One Period
  • Interest + Storage Fee = Finance Charge: 88 (must use Comprehensive Fee Manager for storage. There is a check box there if storage is a one time fee.)
  • Lost Ticket Charge: 39
  • Mailing Charge: Add a text field to display the charge. It will not be included in totals because it isn't due. Use 'Add Extra Fee' when it is collected to get it into the system.
  • Payment Schedule 1 @ $: Same as Total of Payments
  • Principal + Storage + Interest: Same as Total of Payments
  • Service Charge: 132 (must use Comprehensive Fee Manager)
  • Total Amount Paid To Redeem: 41 (If not redeemed, use 87.)
  • Total of Payments $: 87

Police Reports in PPSS

See Police Reports

Prorated Interest

By default PPSS computes prorated interest daily. The amount is updated each time the user interacts with the pawn record.

Prorated interest is included in the amount due at redemption. The default pawn ticket will show 'Projected Period Interest' if no prorated interest has accrued (for a new pawn). The client can know the cost to redeem at loan maturity.

Turn Prorated Interest Off

To turn prorated interest 'off', Program Setup > Interest, enter the 30-day rate in this field:

Click Save/Exit to save the changes and exit Program Setup.

Turning prorated interest off will turn proration off for periodic fees.

If only periodic fees are charged (and not interest), turn proration off by entering .00001 in this field:


A pawn redemption is the return of a pawned item to a client in exchange for repayment of the loan and payment of accrued fees and interest.

At redemption an amount different from the amount due can be collected. Enter the amount in this box:

The program will accept the amount entered as full payment and consider the pawn to be fully redeemed.

This is useful in situations where the client may return to redeem a day or two past the due date. The program will show the full amount for past and current loan periods. This option allows the pawnbroker to accept a lesser amount as full payment.

Redeeming Pawns

A pawn ticket can have more than one pawned item. Immediately below are instructions for redeeming all items on one pawn ticket. See Redeem an Item for how to redeem one or more items on a pawn ticket while leaving other pawned items on the ticket.

Redeem All Items on One Pawn Ticket

  1. In the Pawns Work area, select the pawn record.
  2. Click on Redeem to the right:

  3. Collect the amount shown on the popup window.

  4. Click Save to save the transaction and not print the transaction

  5. Or click Save/Preview/Print to save the transaction and print it.


Redeem One Item on Pawn Ticket with Multiple Items

A pawn ticket might contain more than one item. These are instructions for redeeming a single item from a pawn ticket with multiple items:

  1. In the Inventory Work area, select the item.
  2. Click on 'Redeem Single Item' (on the left):

  3. Collect the amount shown on the popup window.

  4. Click Save to save the transaction and not print the transaction

  5. Or click Save/Preview/Print to save the transaction and print it.


Unredeem a Pawn

There is no specific function for 'unredeeming' a pawn or reversing a pawn redemption. Do either of these:

Reopen the Pawn

  1. In the Pawn Work Area select the pawn.
  2. Right click on the pawn.
  3. Select Status/Info.
  4. Click on 'Reopen this pawn'.
  5. In the table 'Status' will now read 'Reopened'.
  6. Edit the pawn to make changes.

Void the Pawn and Reenter It

  1. In the Pawn Work Area select the pawn.
  2. in the lower-left menu select Void.
  3. Click on View All to reset the table.
  4. In the table 'Status' will now read 'Void'.
  5. Reenter the pawn using the original pawn date.

Related:

View a report of redeemed pawns


Repawn the Same Item(s)

  1. In Program Setup on the Interest tab, check 'Reuse previous pawn record on repawn'.
  2. Save/Exit.
  3. Close and reopen the program.
  4. Find the pawn record in the Pawns Work Area by searching for the loan # or sort the Name column and locate the pawn by the pawner's name.
  5. Right click on the pawn and select Status:
  6. Click on 'Reopen this pawn':
  7. It may appear that 'nothing happened' but look at the last record in the Pawn work area. A new pawn with the same item(s) should be there showing status as 'Current' with the same information as the original with the Due Date advanced. Edit the pawn to see other information, including today's date as the new Pawn Date.
  8. A new pawn ticket may be printed by selecting the pawn and clicking on 'Print Pawn Ticket' on the right.

Pawns can be updated in batch by selecting Group Update Pawns in the Clients Work Area:

Selecting that option presents this screen:

Each pawn can be processed as needed. The options are:

  • Enter a Buy Amount (for purchasing an item outright).
  • Forfeit
  • Redeem
  • Pay Period (Log a periodic payment.)
  • 'Pay Other Amount' (which can be for any purpose)

Make entries as desired and click on Save to save the entries. Click on Cancel to close the screen without saving entries. Click on Refresh to erase any entries:

The total of all transactions will appear after 'The total to collect for these transactions is'.


Variable Pawn Fees

The Variable Fee Schedule can be used for a Document Processing Fee for jurisdictions like Washington State. It overrides amounts entered for normal pawn fees. Late fees, lost ticket fees, gun fees will still apply. (The Schedule is on the Pawn-Fees Tab in Program Setup.)

The Variable Interest Rate Schedule will be automatically entered on new pawns and applied to existing pawns as they age. (The Schedule is on the Pawn-Opts Tab in Program Setup.)

Per pawn ticket fees are applied once to each new pawn. Per loan period fees are applied once per loan period after the end of each period. Fees are not prorated.


Void a Pawn: Some jurisdictions want pawn ID numbers to be sequential, i.e., no skipped or missing pawn ID numbers. When the new-item screen is opened, the program uses the next-available number. If the pawn is not recorded using the chosen number, VOID the pawn record so the program will record that number (as a void).

Note: A voided sale or pawn can't be reversed because prices and quantities are lost upon voiding. (Voided transactions can be hidden from view by checking 'Hide voided pawn records' in Program Setup > Pawn Etc.)


Write Off A Pawn

At any time during the loan period a pawn may be written off. The amounts paid out and collected are retained and are included in profit/loss calculations.

'Write off' is different from 'void' where the latter zeros everything out.


Write Off a Pawn in PPSS

  1. Select the pawn record in the Pawns Work Area.
  2. On the right, click on Forfeit.
  3. Check 'Print To Receipt Printer' if a receipt is needed.
  4. Check 'Write off this pawn'.
  5. Change the date of the transaction if needed.
  6. Click 'Save' to save the transaction.
  7. Click 'Save, Preview, Print' to preview the transaction.

Checking 'Print To Receipt Printer' and pressing 'Save, Preview, Print' will print to an ink printer if an ink printer is set in Program Setup > Printers, or it will print to a thermal receipt printer if one is being used. The shop does not need a printout of the transaction because the transaction is stored in the database.