Managing pawn tickets: interest, extension, redemption, liquidation

Unlike a sale that ends at the counter, a pawn ticket runs from creation until the customer redeems it, extends it or the shop liquidates the item. A paper ledger makes it hard to see which tickets are nearly due, which are overdue and what has been collected on each.

This article describes the life of a pawn ticket in the software and the business rules the software should enforce rather than leaving staff to remember them.

Creating a ticket: valuation per chi

The pledged item is weighed dry and its weight recorded in chi, converted from grams at 1 chi = 3.75 g. The gold content measured by hydrostatic weighing, for example 75%, is recorded with the karat such as 18K or 24K, either converted automatically or entered by staff.

Staff value the item by entering a pawn unit price in VND per chi. The software calculates the rest:

• Weight (chi): read from the scale and converted to chi
• Pawn unit price (VND/chi): valued and entered by staff
• Total pawn amount = Weight (chi) x Pawn unit price (VND/chi), read-only
• Performed by: defaults to the logged-in account and cannot be changed

The performed-by field is fixed so each ticket is tied to the person responsible. A customer created while the ticket is being written must be saved to the shop's shared customer list.

Limit per pawn ticket

Pawn tickets are capped by a limit configured in the software. With a limit of VND 200,000,000, a ticket above that amount is blocked at creation.

The software checks the rule on every ticket, so it does not depend on staff remembering the limit.

Extension and redemption

When the customer returns, staff reopen the ticket and choose Extend or Redeem. Interest rates are part of the configuration managed by the owner.

On redemption, the amount collected must match Total due = Principal + Interest. This deserves careful checking during the trial run, because wrong money amounts are in the highest-priority group of defects.

Cancellation requires a reason

Cancelling is a sensitive action because a pawn ticket is tied to cash already paid out. The software applies these rules:

• A cancellation reason must be chosen from the reason list
• If Other is chosen, a specific reason must be typed before confirming
• Tickets that have been extended, redeemed or liquidated cannot be cancelled

The list of cancellation reasons is managed in the Catalogue section. Every cancellation therefore has a recorded basis when the owner reviews it.

Liquidation after the grace period

An overdue ticket cannot be liquidated straight away. Liquidation is only allowed after the due date plus 10 days of grace, and the software blocks the action if the ticket does not yet qualify.

Liquidation is just selecting the ticket and confirming. There is no liquidation price field, as it is not part of the shop's process. When several tickets qualify, the user ticks multiple tickets and liquidates them in one action, with a confirmation step to prevent mistakes.

Tracking overdue tickets and permissions

The notification bell flags overdue pawn tickets so they are handled on time. The shop no longer has to scan the ledger every day to find tickets that need action.

Under the default permissions, the Pawn group belongs to the owner, and store managers and staff cannot access it. Every action in the software is logged.

Frequently asked questions

Can a ticket be liquidated right after the due date?

No. Liquidation is only allowed after the due date plus 10 days of grace.

Can the total pawn amount be edited by hand?

No. The total equals weight in chi times the pawn unit price and is read-only. To change the total, staff change the pawn unit price.

Can an extended ticket be cancelled?

No. The software does not allow cancelling tickets that have been extended, redeemed or liquidated.

Do we enter a sale price when liquidating?

No. Liquidation only involves selecting qualifying tickets and confirming.