Pawn software is a computer program that
- Organizes and records every detail of the pawn business
- Saves time by automating many repetitive tasks, and
- Saves money by eliminating mistakes and theft.
Pawn software is used to:
- Organize and easily access all information - customer and employee information, inventory, pawns, loans, checks cashed, rentals, police information, sales, taxes...
- Keep in touch with customers (birthdays, call lists, group mailings, wish lists)
- Remind to take action and to contact people
- Keep detailed notes on customers, inventory and sales
- Auto-apply fees and interest
- Audit cash drawer any time
- Hold guns until ATF approval
- Auto-compute new-loan interest rate
- Upload to Leads Online
- Generate gun and police reports
- Simplify remedial tasks (like printing reports, pawn tickets, price tags, and mailing labels...)
- Print invoices on 8.5 paper - Eliminates pre-printed form cost
- Reduce employee errors (Calculate change due on purchases, for example)
- Eliminates mistakes, confusion and frustration by replacing hand-written tags, invoices, notes with printed ones
- Report to customers (sales made, items in inventory, amount due, store credit...)
- Use conveniences like cash drawers, printers and barcodes.
Simply put, pawn software organizes information, makes it readily available, saves time and money and makes a favorable impression with efficiency and professionalism.
Consignors, Buyers and Employees
Customer and employee information stored on the computer can be viewed 'on screen' or printed on paper. The program will automatically remind shops of important dates (like birthdays - when to contact anyone and why). Mailers and address labels can be printed in minutes. A computer makes it possible to easily keep in touch with a multitude of people and not overlook details and sales/service opportunities.
Inventory
Likewise, every detail about each inventory item (including pictures!) is stored on the computer and is available for viewing or printing. Literally any information can be presented in a 'report' for shops or customers, including:
- Pawns
- Items in stock
- Items sold, date, price, shop/consignor split
- Items discounted, donated, returned, destroyed or transferred to shop ownership
- Shop-owned inventory
- Rentals
- Outstanding Loans
Sales
Every detail of selling is recorded, including
- Items sold or pawned, owner, buyer, date, price, discount(s), taxes
With each sale, professional invoices/receipts are printed and correct change due to the buyer is accurately and automatically computed. Good impressions are made and costly errors are avoided.
Remedial Tasks
Pawn selling is labor intensive - checking in new items, tagging and tracking them, computing settlements, making payments to consignors, employees and vendors. Software saves hours and hours of time by automating these processes, leaving store owners to the more important functions of marketing and customer service.
Using a computer, pawn shops can:
- Auto-fill and print state-approved customized pawn tickets in duplicate
- Print and mail their owner fliers or personal or group letters
- Print mailing, price and bar-code labels
- Print checks
- Print inventory, sales and tax reports
- Use bar codes and scan guns
- Link two or more computers together and share the same information
Accounting
Perhaps the most valuable and least-expected benefits of pawn software are:
- The elimination of errors
- Employees enter items at the point of sale and amount tendered. Change due is auto-computed.
- The ability at any moment to compute and view the status of any detail -
- Inventory in stock or sold
- Inventory status (discounted, returned, sold, donated, transferred to shop ownership)
- Sales made on any date or for any period, for any consignor or by any employee
- Payments due or made to consignors ('Settlements')
- Complete tax details
- Profit or loss at any point in time, for any period
With pawn software, consigning is truly this simple:
- A consignor brings items in.
- You enter his or her information and print 2 copies of the Pawn Agreement (which are pre-filled with consignor and shop information).
- Your organization and efficiency make a good impression.
- Print price labels for each item then or later.
- No mistakes. Professional appearance. Credibility.
- Tags can display discount schedules or not, and 'store codes' for how to dispose of each unsold item
- A customer brings items to the counter to purchase.
- You continue to impress by quickly and efficiently...
- Entering the items being purchased
- Entering payment (Change due is auto-computed - no mistakes!)
- Printing a professional-looking invoice (receipt)
- The software adjusts shop and consignor records.
- Manual end-of-day accounting is eliminated!
- Process settlements and make payments to consignors.
- Print settlement reports and mailing labels.
- Create daily, weekly, monthly or yearly profit/loss reports.
- Accurate, reliable, time-saving computations.
Cost of Computerizing
The total cost of a computer and pawn software is far less than the labor cost of pencil-paper operation. A computer may be leased for about $20/month. A more appropriate question might be, "How much time and money is wasted by not computerizing?"
Software Cost
The standard strategy of software vendors is to secure new users without emphasizing all possible costs in using their programs, leaving users to discover large additional fees well after the money-back guarantee period.
Learning Pawn Software
A good software program is one that is easy to learn and use. Most are complex and far from user friendly so if you would like to start at Square One and benefit from step-by-step instruction, download the Best Pawn Shop Software Intro Edition Demo.