Retail, Resale and Consignment Layaways

Layaways (lay-bys in Australia, New Zealand and South Africa) are a form of 'financing' or delayed payment method which allows customers on limited budgets to purchase merchandise with installment payments.

The financing aspect is payment for purchases by installment, usually with zero percent interest.

Delivery of purchased items almost always takes place with the final scheduled payment.

Technically 'layaway' is defined as 'paying a deposit to secure an item for later purchase. Layaway 'plans' are a schedule of payments.

Layaways are often accompanied by a layaway agreement which spells out the rights and responsibilities of each party as well as the schedule of payments.

Layaway Management Software

A simple layaway management software program tracks outstanding layaways, payments and finalized layaways and provides reports about each customer, item and payments.

POS Layaway Software

Software for layaway at point-of-sale can allow for any purchase to be converted to a layaway plan. The can also be an opportunity to enter the payment schedule at point-of-sale as well as a print out of the purchase with repleat with scheduled payments.

Layaway Tracking Software

Tracking software follows each layaway transaction from beginning through completion. At any moment in time the status of a layaway may be recalled as well as the location or disposition of the merchandise on hold.

Best Consignment Shop Software Layaway Module

Best Consignment Shop Software is a complete POS layaway tracking and management system:

  • At point-of-sale any sale in progress can be designated as a layaway transaction.
  • At POS the initial deposit and a schedule of future payments may be entered.
  • Customer or employee store credit may be applied toward the purchase.
  • A receipt can be printed listing the customer's information, the item(s) purchased, terms and the payment schedule.
  • Any of these payment methods are acceptable: Amex, Cash, Check, Debit Card, Deferred Payment, Discover, Gift Certificate, MC, Pay Pal, Visa
  • Payments can be split between any of those options
  • Any credit-card processing service may be used
  • The item record or records can be edited to designate the location of the item(s) on hold.
  • The payment plan is flexible. Due dates and planned amounts can be changed as time progresses.
  • Periodic payments can be recorded by simply editing the transaction record.
  • At any given point in time reports can be generated for open, closed and past-due accounts.
  • Settlement with the owner(s) of the item(s) purchased can be made with the initial deposit or with the final payment.

Illustrated instructions are available in the manual (F1) under Reports.

The BCSS 'Search Engine'

You can search the BCSS database just as you would the Google database with some helpful differences:

  • BCSS finds only the records and information you want - no 'close matches'.
  • Some searches in BCSS are pre-set. Making a selection in the Main Table present information at the bottom of the screen with additional information on the colored tabbed screens.
  • There are several pre-defined searches in the Quick Links Menu.
  • BCSS groups information and presents useful business reports.

BCSS can return search results that are very focused - everyone with a birthday in June or those persons on the mailing list - a group of inventory items (for printing price labels) - or reports about activity like sales, settlements and disbursements.

BCSS search includes many options:


The Many BCSS Searches

  • Active/Inactive
  • Bad Checks
  • Birthday
  • Categories
  • Category Groups
  • Credit Memos
  • Customers
  • Deliveries
  • Demand
  • Demographics
  • Dollar Volume
  • employees
  • Hang Tags
  • Inventory
  • Invoice Dates
  • Invoice Totals
  • Invoices
  • Item Number
  • Items Sold
  • Last Order Date
  • Last Purchase Dates
  • Last Shipment Date
  • Layaways
  • Mailing labels
  • Mailing List
  • Orders
  • Pay Methods
  • Payments
  • Price Labels
  • Price Range
  • Purchase Count
  • Quantity on Hand
  • Reorder Point
  • Sales
  • Sales on Hold
  • Salesperson
  • Special Orders
  • Store Location
  • User-Defined Text
  • Vendors
  • Voids
  • Zip Code


Advanced BCSS Search

You control the information that BCSS reports (on screen, in print preview and in print) by making selections and settings on Advanced Search Screens.

Procedure:

Click on Reports on the Main Menu.

Reports are available for Consignors, Customers and Demographics (in Diamond/Virtual), Disbursements, Inventory and Sales. Let's use Consignors as an example. Select Consignors under Reports in BCSS.

To view a list of Consignors with balances over $50, check the 'Account Balance' box and enter 50 in the 'Amounts From' field and 10000 in the 'To' field.

Click 'Print the Report' and view the Print Preview. Click 'View the Report' to display the results in the Main Table.

Remove names from the report by marking their records as Inactive, or use the User Text Feature to mark desired records with the same text.

Preview again and print if the list is correct.

All reports for Customers, Disbursements, Inventory and Sales function the same way.