August 26, 2015 @ 4:06 PM
How to handle when a customer gives you a bad check or a bogus credit card charge that is taken back a few days later when you are using a point of sale program like The Edge; Jewelry Shopkeeper or any other point of sale program
I’ve had many a jeweler contact me after the fact when a customer’s check bounced or as what happened this week when a large sale was made with a credit card and days later the processor took the money back. This was fraud after the fact.
The jeweler mistakenly thought if the money “bounced” or was taken away that he should refund the sale in the Edge (or any other POS system).
No money obviously no sale, reverse it - right?
August 19, 2015 @ 11:47 AM
Polygon is a popular jewelry network that has had a recent discussion how many large branded companies are closing up smaller accounts and opening their own stores. Pandora has been doing this. They’d close a retailer and in a mall across the street open up a Pandora store only. I know some retailers who own a Pandora store only and easily do millions a year.
My understanding is some watch companies do this as well.
Some jewelers have complained that they were closed up after doing pretty well with a line like this, Pandora is an example, while the wholesaler opened up company stores. In many cases they close up the lower sales stores while keeping high performers. Not always but most times.......