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Jude

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Submitted By helea25
Words 1460
Pages 6
Polytechnic University of the Philippines
College of Computer and Information Sciences
Sta. Mesa, Manila

Pawnshop Management
System

Prepared by:

Abaya, Russel Jan
Acula, John Lester
Gabelo, Jerry
Paming, Krissel
Silvela, Mariz

Chapter I: Abstract/Overview

A. Project Definition/Introduction

A pawnshop is a business entity that lends money to pledgers based on the value of a collateral item. The item’s value will increase due to interest and the pledger will be given a due date. If the pledger haven’t successfully returned the money within the period of time that was agreed upon during pawning, the collateral item will be unredeemed and will be available for sale. Most pawnshop companies make use of manual forms during the pawning process, which leads to bulky paper works and poor organization of records. The clerk or pawn broker is also forced to deal with manual, time-consuming computations for item assessment, contract details, sales, and reports. The manual process often causes inaccuracy in terms of interest and payment in which computations adapt to different company policies.

The proposed project will address the following problems encountered by such companies that practice the manual pawnshop system: * Inaccurate assessment of pawned item * Miscalculation of interest, due date and periodic payment for pawn transactions * Difficulty in monitoring payments * Time-consuming searching of records * Facilitates too much manpower * Inconsistent implementation of company policies * Prone to human errors * Slow processing of data specifically in computation processes * Data loss due to mishandling or unorganized records and/or lack of backup * Data redundancy due to duplication/reproduction of copies

B. Business Case

1. Project Goal

* The project will improve

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