Some gun shops provide a consignment service where the consignor (seller) and the dealer agree to some basic terms and the FFL dealer places the firearm on his “bound book” and becomes the legal owner. If the firearm sells, the consignee usually takes a percentage of the sale price. If an agreed upon period of time lapses and the firearm hasn’t sold, the “owner” will then return the firearm to the consignor (this step requires selling the consigned firearm back to the consignor). I thought about how to accommodate this type of transaction to our already solid FFL dealer software and came up with a fluidly consistent solution (I think).
During an acquisition in GunShop Software, for each firearm, you assign a type to the acquisition. If from a distributor it is “Standard“, if from a walk-in (firearm is not new) then “Private“, and if a repair then “Repair“. I’ve added “Consignment” to the list and a new column on the extended version of the “bound book report” (see the sales videos for background). During an acquisition (see the video) you enter the cost and selling price of the firearm. This is prominent on various reports and appropriately provides defaults during the sale of the firearm. Since this is not a purchase, the cost will not be include in the Purchases Column on the “Day Book” sales report.
So far, so good. I then created an acquisition report that is a receipt to the consignor.
Next step is to produce paperwork when the firearm sells (see videos) to alert the shop that a consigned firearm has now been sold.
If you have suggestions please comment on this post.