POS Layaway Management Software
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.