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Jewelry Store POS & Inventory Software
Jewelry retail software requirements that differ from general retail stores. Jewelers have a large value-to-size ratio, which makes inventory tracking critical. In addition, the high value of jewelry can sometimes trigger the need to file IRS Form 8300 for cash payments over $10,000.
General ledger, payroll, accounts receivable, and accounts payable are typical. Inventory values can change because of changes in prices for precious metals and stones. Customer relationships play a more important role than in general retail. Compliance reporting for jewelry stores have become more strict in recent years and require more attention than they previously did.
Key Requirements for Jewelry Stores
Jewelry store owners should evaluate the following functions to meet their unique requirements:
| Enhanced customer relationship management | More than most retailers, jewelry stores depend on relationships for repeat high sales. The system needs to track customer birthdays, anniversaries, and relatives to send reminders for purchases. |
| Inventory imaging | Since it can be difficult to distinguish different jewelry pieces by description, the jewelry inventory software system should include pictures. |
| Appraisal Tracking | After an appraisal is completed, the system needs to store it tagged to both the customer and the individual piece. |
| Anonymous sales | In most cases, customers want detailed information kept on transactions to help them when future issues arise. Certain customers may want to make anonymous purchases; the system should support this. |
| Support for IRS Form 8300 | If a person pays for merchandise with $10,000 or more in cash, the system should flag the transaction and generate information for IRS Form 8300. |
| Repair tickets | Repairs and alterations are an important part of customer history. The system must track the repair and update customer history with changes in sizes if pieces are altered. |
| Download precious metals and stone pricing | Precious metal and stone prices directly effect inventory value and item pricing. The systems should automatically download current pricing, and optionally apply it to all of the inventory or selected items. |
| Patriot Act Anti Money Laundering reporting | The system should provide PATRIOT Act AML-required reports when purchases of “covered goods” of $50,000 or more are made in a single year. |
| Messaging integration | The system should transmit customer alerts for special orders received, repairs completed, and special date reminders. Ideally, the customer should be able to opt in for email, text messages, or robotic calls |
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Jewel Mate
Designed specifically for jewelry retailers and wholesalers, Jewel Mate delivers comprehensive inventory management, customer relationship management, and point of sale features. Fully integrated for e-commerce sales.
The EDGE
Ideal for jewelers with 1 to 5 stores, The EDGE software system integrates core POS, marketing, customer management, and e-commerce functions. We especially like its powerful inventory management features for sorting and tracking.
ARMS Signature Series Software
We think jewelers will find the ARMS Signature Series POS intuitive and easy to use. Includes core POS, customer management, and retail accounting functionality. Repair Tracker tool monitors items through repair process.
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Visual Retail Plus
Visual Retail Plus is a retail point of sale software system that includes inventory management, accounting, and CRM features. The system’s inventory management matrix can help jewelers organize their valuable inventory.
LightSpeed
The browser in LightSpeed POS is great for jewelers that want to take a look at their entire inventory in a clean, iTunes-based user interface. Also offers retailers notifications, alerts, CRM features, and mobile deployment.
Retail Anywhere
Jewelers can monitor employee performance, track inventory movement, streamline the point of sale, and develop customer marketing campaigns with the Retail Anywhere solution. The system can come pre-installed with hardware.
Microsoft Dynamics GP
The accounting and inventory functionality within Microsoft Dynamics GP is a great asset for retailers mainly dealing with high-cost inventory items. Offers accounting, inventory, and point of sale modules within the ERP suite.
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