We've helped dozens of retail consignment businesses choose the right specialized POS software so they can optimize pricing and manage consignor data. How does it work?

Consignment Software


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NetSuite logo
 
NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read More
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NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read More
 
Epos Now logo
 
Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
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Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
 
ACCEO Smart Vendor logo
 
ACCEO Smart Vendor is a retail point of sale (POS) and inventory management system that helps small and midsize retailers to manage stocks and process customers’ orders. It serves a variety of single and multi-locations retailers... Read More
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ACCEO Smart Vendor is a retail point of sale (POS) and inventory management system that helps small and midsize retailers to manage stocks and process customers’ orders. It serves a variety of single and multi-locations retailers... Read More
 
Stratus Retail logo
 
Stratus Retail by Celerant Technology provides tools for point of sale (POS), inventory and order management, enterprise resource management (ERP), e-commerce, business intelligence, marketplace integrations (Amazon, eBay, Walmart,... Read More
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Stratus Retail by Celerant Technology provides tools for point of sale (POS), inventory and order management, enterprise resource management (ERP), e-commerce, business intelligence, marketplace integrations (Amazon, eBay, Walmart,... Read More
 
iVend Retail logo
 
iVend Retail is an omnichannel retail management solution that helps businesses manage various aspects of a brick and mortar retail shop and e-commerce store. It covers from point-of-sale (POS) to back office to head office operations.... Read More
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iVend Retail is an omnichannel retail management solution that helps businesses manage various aspects of a brick and mortar retail shop and e-commerce store. It covers from point-of-sale (POS) to back office to head office operations.... Read More

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ConsignPro logo
 
For resale and consignment shop owners looking for a comprehensive, feature-rich retail management solution, ConsignPro provides reliable, time-tested software that is industry-specific and simple to learn. ConsignPro handles retail... Read More
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For resale and consignment shop owners looking for a comprehensive, feature-rich retail management solution, ConsignPro provides reliable, time-tested software that is industry-specific and simple to learn. ConsignPro handles retail... Read More
 
Liberty4 Consignment logo
 
With its flexible, simple solution, Liberty4 Consignment by Resaleworld.com offers retailers in the consignment, thrift and resale industries a comprehensive system to manage point of sale, inventory management, CRM and accounting.... Read More
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With its flexible, simple solution, Liberty4 Consignment by Resaleworld.com offers retailers in the consignment, thrift and resale industries a comprehensive system to manage point of sale, inventory management, CRM and accounting.... Read More
 
Clover POS logo
 
Clover is an integrated point-of-sale (POS) system with custom hardware designed for several types of retailers. The program is available in both web-based and server-based deployment versions and offers a mobile POS option in addition... Read More
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Clover is an integrated point-of-sale (POS) system with custom hardware designed for several types of retailers. The program is available in both web-based and server-based deployment versions and offers a mobile POS option in addition... Read More
 
GiftLogic logo
 
GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read More
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GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read More
 
Ricochet Consignment Software logo
 
Ricochet Consignment Software is a cloud-based point of sale (POS) solution designed for consignment and second-hand retailers and helps them to manage their daily business operations, interactions with the customers and process financial... Read More
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Ricochet Consignment Software is a cloud-based point of sale (POS) solution designed for consignment and second-hand retailers and helps them to manage their daily business operations, interactions with the customers and process financial... Read More

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SimpleConsign logo
 
SimpleConsign by Traxia offers a web-based single or multi-store solution for consignment stores, resellers, small retailers, antique malls, and art galleries. No download is required, and set up, data conversion and backups are included.... Read More
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SimpleConsign by Traxia offers a web-based single or multi-store solution for consignment stores, resellers, small retailers, antique malls, and art galleries. No download is required, and set up, data conversion and backups are included.... Read More
 
PawnMaster by Data Age logo
 
Data Age provides point of sale (POS) solutions for pawn shops and other specialty retailers. The systems offer optical identification scanning, barcode/UPC scanning, biometric validation and law enforcement reporting. The system... Read More
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Data Age provides point of sale (POS) solutions for pawn shops and other specialty retailers. The systems offer optical identification scanning, barcode/UPC scanning, biometric validation and law enforcement reporting. The system... Read More
 
LS Nav logo
 
LS Nav is a retail management system consisting of point of sale (POS) and enterprise resource planning (ERP). Key features include inventory management, customer management, retail accounting, e-commerce, warehouse management and... Read More
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LS Nav is a retail management system consisting of point of sale (POS) and enterprise resource planning (ERP). Key features include inventory management, customer management, retail accounting, e-commerce, warehouse management and... Read More
 
The Consignment Shop logo
 
The Consignment Shop by SBS Solutions is a hybrid consignment management solution that caters to small and midsize consignment businesses across various industries like jewelry, furniture, books, apparel and more. The solution offers... Read More
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The Consignment Shop by SBS Solutions is a hybrid consignment management solution that caters to small and midsize consignment businesses across various industries like jewelry, furniture, books, apparel and more. The solution offers... Read More
 
Bravo Pawn Systems logo
 
Bravo Pawn Systems is a point-of-sale platform built specifically for pawnbrokers. The software offers inventory management, advanced reporting, customer management, tight security, integrated e-commerce, and mobile applications. The... Read More
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Bravo Pawn Systems is a point-of-sale platform built specifically for pawnbrokers. The software offers inventory management, advanced reporting, customer management, tight security, integrated e-commerce, and mobile applications. The... Read More

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Acumen logo
 
Acumen is a software solution designed for small, medium, and growing retailers. The integrated solution includes applications for point of Sale, stock management, customer management, ecommerce, and accounting. Acumen provides a... Read More
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Acumen is a software solution designed for small, medium, and growing retailers. The integrated solution includes applications for point of Sale, stock management, customer management, ecommerce, and accounting. Acumen provides a... Read More
 
Fishbowl Inventory logo
 
Many pawn and consignment shop owners must maintain a large, varied inventory. We recommend this retail management system from Fishbowl Inventory because of its integrated accounting, inventory, and POS applications.
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Many pawn and consignment shop owners must maintain a large, varied inventory. We recommend this retail management system from Fishbowl Inventory because of its integrated accounting, inventory, and POS applications.
 
ShopKeep logo
 
ShopKeep is an iPad-based POS for retail businesses, restaurants, bars, franchises and quick-serve businesses. The multi-feature solution offers tools to manage registrations, booking, marketing, inventory, staff, and payments. The... Read More
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ShopKeep is an iPad-based POS for retail businesses, restaurants, bars, franchises and quick-serve businesses. The multi-feature solution offers tools to manage registrations, booking, marketing, inventory, staff, and payments. The... Read More
 
Square Point of Sale logo
 
Square Point of Sale is a mobile phone app available on Google Play and the App Store. The system is designed to run on a tablet or smartphone. Key capabilities include online payment processing, sales reports, inventory and digital... Read More
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Square Point of Sale is a mobile phone app available on Google Play and the App Store. The system is designed to run on a tablet or smartphone. Key capabilities include online payment processing, sales reports, inventory and digital... Read More
 
Brightpearl logo
 
Brightpearl is a complete retail management software solution to manage inventory, orders, accounting, purchasing, customer relationship management (CRM) and point of sale (POS) in one single system  Brightpearl's inventory management... Read More
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Brightpearl is a complete retail management software solution to manage inventory, orders, accounting, purchasing, customer relationship management (CRM) and point of sale (POS) in one single system  Brightpearl's inventory management... Read More
 

Buyer's Guide

by Agnes Stubbs,

Last Updated: August 7, 2018


Consignment and pawn shops have an issue that is not a factor in other retail operations: the providers may want their merchandise back. Inventory tracking and auditing are the primary concerns for those looking for consignment tracking software, thrift store software or pawnbroker software. Pawn shops in particular have strict regulations concerning documentation. In most states, even voided receipts must be retained and filed. A number of states require that pawn systems be approved by the state. Pawn shops are also subject to PATRIOT Act Anti-Money Laundering (AML) regulations and IRS Form 8300 requirements.

Consignment shops are not typically subjected to the same scrutiny, but the record keeping tasks are similar. Consignment stores do not generally buy inventory, they hold it for others and pay the sellers. Consequently, the inventory consists of all unique items which must be linked to the owners until sold, then the correct amount calculated and remitted—making consignment inventory solutions very specific to the industry.

For both consignment shops and pawn stores, general ledger and payroll are identical with general retailers. Both have special requirements for customer information, accounts payable and especially inventory. Pawnbrokers have unique requirements for accounts receivable to track payments from clients with items in pawn.

Common Features of Consignment and Pawn Shop Software

We often hear questions from users such as, "Are there free consignment software vendors?" and "What is the best consignment software solution?" These questions are difficult to answer—there are a number of consignment point of sale software and thrift store POS systems that can meet users' needs.

Screenshot of SimpleConsign dashboard

Screenshot of SimpleConsign dashboard

However, there are a number of features that users should look for when evaluating these solutions. Owners need core accounting, but should evaluate the following functions to meet their unique requirements:

ID scanning The system should scan and retain ID information for sellers and consigners. The POS should scan IDs and verify that the format of the ID is correct. It is impractical to validate the IDs against government databases.
Commitment to pay scheduling The system should calculate interest and the commitment to pay schedule for pawn clients, generating coupon books or bills as required.
Unique inventory items Resale stores have inventories built from unique items that must be tracked individually from initial acquisition to final sale and payment. The system must track and value these inventories.
Customer payment calculation When consignment stores sell articles, the system must track the date and the amount, and then calculate the total remittance to the customer, as well as the store’s percentage.
Customer history tracking In order to prevent and settle disputes, the system needs to keep complete time and date stamped records of all transactions, correspondence, visits and phone calls for any particular customer.
Inventory disposition For resale shops, the ownership of a particular item may change. For example, a consigned item may not be picked up in the agreed time or an item may come out of pawn. The system needs to make all required notifications to the client and change inventory status as necessary.
Employee audit control and inventory Shrink is a big issue in these industries and can have a big impact on the bottom line. An accurate and up-to-date employee audit, done frequently, is the best defense.
Inventory authentication The system should help identify lost, stolen and counterfeit goods by interfacing with online data sources.
Security system integration Pawn stores in particular benefit from integration between the POS system and security systems, linking security recordings with transaction records.
Messaging integration The system should transmit customer alerts for payments due, items sold or changes in item status. Ideally, the customer should be able to opt in for email, text messages or robotic calls.
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.
Support for IRS Form 8300 If a person pays for merchandise with $10,000 or more in cash, the systems should flag the transaction and generate information for IRS Form 8300.
Law enforcement reporting Any required law enforcement reports for a jurisdiction should be available from the system as required. These reports should be predefined but customizable.

Expected Benefits of Consignment and Pawn Shop Software

There are many benefits of using a consignment and pawn shop software solution. The most obvious one is the amount of time saved in daily operations. Some of the advantages of consignment and pawn shop software include the following:

Ensure a smooth transaction process with POS. A consignment and pawn shop software solution helps users complete all the sales steps, such as conduct sales conveniently, buy products outright and consign items, in the same transaction. Its POS system handles online credit card processing, split payments, returns and voids.

Access to consignor information. This enables the user to find accurate information, such as payout history, account activity, account balance and inventory details, related to each consignor on a single screen. Also, users can add consignment inventory either in batches or one at a time.

Employ better inventory management. Users would no longer need to review every reporting page to locate stock items. With the consignment software solution in place, users can track and add inventory efficiently. Users can also search the inventory by brand, color, category, name or other keywords. Also, they can search for consignor inventories either by an individual consignor or as a group. The software helps in understanding and automatically tracking other metrics such as inventory level, the age of the stock items and price markdowns.

Real-time communication with consignors. The software sends automatic emails and instant messages to consignors regarding updates, such as sales conducted or inventory status, so that they remain up to date with the latest status.

Pricing and discount management. A consignment and pawn shop software solution allows users to price items correctly the first time and suggests pricing quotes as well. Also, the software suggests discounts for items and offers useful features, such as automatic item discount. This feature enables users to lower prices of consignment products at the POS system while preventing them from discounting below the acceptable price.

In conclusion, a consignment and pawn shop software solution has several significant benefits that will enhance the functioning of your business.

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