Bravo can be set up to remind your employees to fill out an IRS 8300 form when a customer has crossed the tender threshold.
Bravo can now Print the IRS 8300 form mostly filled out when a customer crosses the IRS 8300 threshold.
The first two pages of the 8300 are printed along with the 8300 Audit Report to show the transactions that caused the customer to cross the required threshold.
How to get it:
Contact your Bravo representative today.
Concerns & Considerations:
It is a best practice to associate all transactions with a customer.
Bravo will not allow transactions above $10,000.00 to be tendered in cash to “Cash Customer” when setup to print the IRS8300 form.
How to Start or Setup:
Type of Business:
The IRS8300 form has a field for the “Nature of your business”. It is referred to in Bravo Type of Business. Usually “Pawnshop” is the type of business, but we leave that up to you to decide.
This can be set in System Configuration -> Configuration Tab -> Type of Business
(Located near the top of the Configuration tab.)
Best Use and Steps:
After everything is setup, Bravo will begin searching for and warning your employees any time a customer’s transactions add up to cross the $10,000 IRS 8300 reporting threshold.
This also means that if the customer gives you $10,000 but receives $9,000 cash back, they have passed the threshold and an IRS 8300 form will print.
Once the threshold is passed, Bravo will display the following warning:
Clicking Ok will print the transaction documents, followed by the 8300 Audit Report for the customer of the transaction.
The IRS 8300 form will be filled out with store and customer information.
Your employees will need to fill out the rest of the form with the customer. There are some things only a person involved in the transaction would know.
The 8300 Audit Report document can be found here: 8300 Audit Report
Reprint 8300 forms
If for some reason there is a need to reprint any of the 8300 forms, this can be done from the Void/View Transactions screen.
Once you are viewing a transaction that has crossed the threshold, there will be two new buttons on the right-hand side. “Reprint 8300 Audit” and “Reprint 8300 Form”. See below.
Additional information:
If you have not seen an IRS8300 form, it would be best to print one and review it. *Available in January 2025 The IRS form 8300 in Bravo has been updated to print the December 31, 2023 version below.
Bravo prints the following fields of the IRS8300 form:
3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 28, 29, 30, 31, 35, 37, 38, 39, 40, 41
The remaining fields should be filled out with the customer as there are some things only a person involved in the transaction would know.
Print the remaining pages of the IRS 8300 using the below link.
https://www.irs.gov/pub/irs-pdf/f8300.pdf