If you’re in business, you know that time is money.
Manually writing down all your acquisitions and dispositions in a paper bound book is a time-intensive and laborious process, and that means it’s expensive.
ATF record keeping regulations often require incredibly repetitive entries, like when a buyer acquires multiple firearms and you have to enter the buyer’s information separately for each item bought along with all the information for each firearm. Lucky for you, software is perfect for that kind of time-consuming, repetitive task. That’s where electronic bound books come in.
Electronic bound books like FastBound allow you to easily store and reproduce A&D record info, saving you money by cutting time spent entering repetitive data points. Faster record keeping allows you to spend more time on the parts of your business that actually make you money like merchandising, marketing, and sales. It’s possible to reduce your book keeping time by 50% or more with these three features of electronic bound books:
Save your contacts
Enter a dealer or distributor’s information into the system once, store it in your contacts, and then the system auto populates the record details for every future acquisition you make from that source. Same goes for buyers and dispositions. Entries for bigger, multi-item orders are magically simplified when the acquirer’s information can be automatically reentered.
Batch entry for acquisitions
When you acquire multiple units of the same firearm, just input the make and model of that firearm, then enter the serial numbers as a batch. The software creates the full required entry for each unique item, and just like that, you’re done.
Quickly acquire individual items by scanning a barcode and then confirming the information the system populates, instead of typing it all in. Scanning and verifying is much much faster than writing down, or even typing in, all the details for each firearm.
For a higher volume business, the time savings of an electronic bound book is a major cost reduction. Using an electronic bound book speeds up entry and also reduces errors (and the need for correction) using automation. That lowers your labor costs, and opportunity costs, involved with making manual entries. You’d even see a cost benefit as a small, independent dealer since your time is very valuable to your business. Like we said at the outset, in business, time is money.