A typical Jewelry Shop (or chain of shops) has to handle many activities on a given business day. It begins with creating your stock items, noting the opening balance, purchasing gold, silver, precious stone and even readymade jewellery for making and selling.
Jewelers do purchase old ornaments for exchange with new ornaments by properly assessing the value of gold included in the items being exchanged.
They also need valuation of stock by many ways. It needs to know the stock of gold by purity as well as weight, quantity of precious stones, quantity of finished ornaments and weight of individual ornament with and without the studded stones.
The ornaments must be assigned their respective positions on their shelves and trays and noted properly.
Moreover the jeweler has to know where the stock is lying; across the network of outsourcing artisans called Kaarigars and at own shop.
Our solution for jewellery retail management is a very practical answer to many questions.
It involves making use of both Accounting and Inventory features of Tally.ERP9 and make available a solution that is equally useful for users and management.
- Creation of Gold and Silver as stock items with purity
- Capturing daily rates of these precious metals
- Purchasing Pure Gold, Readymade (Branded) Jewelry Items
- Exchanging Old Ornaments / Fine Gold or Silver with New Ornaments
- Maintain masters of Salespersons as well as Kaarigars for tracking sales and material
- Multimode sale with Advance Order, Partial Payment, Cash and/or Credit Card Payment
- Tracking of stock across trays, shelves, stores and kaarigar shops
- Tracking of payments from Order and Advance Payment to Final payment
- Calculating commission to be paid to the salespersons
- Compliance with statutory framework
- Buy Pure GOLD, SILVER, GEMS
- Maintain Daily Rates
- Maintain Dealer Purchase
- Outstanding Payables mgmt.
- Maintain Rate History
Stock / Inventory
- Maintain Stock by Type of Ornament, Weight, Purity as well as Trays
- Maintain stock across multiple outlets
- Maintain Daily Stock Register for Day End Tallying
- Maintain Bar Codes
- Include image of ornament in master
- Polishing, Melting wastage management
Outsourcing (Jobwork / Karigar)
- Send stock to external KARIGAR for working
- Keep track of stock across multiple Karigars
- Maintain labour charges records as per item/weight
- Proper Integration of Inventory and accounts
- Proper book keeping till finalization of accounts
- Strong Banking Module
- Finalisation statements like Balance Sheet, P & L
- Create Estimate Memo (Quotation)
- Handling Customer Order Management
- Buy old ornaments for exchange
- Indicate old items exchange value in sale invoice
- Handle sale by CASH or CREDIT CARD or BOTH
- Customer pending order status
- Daily cash sales register
- Integrate Bar Code
- Include Making Charges as per Item/Weight
- Salesperson performance and commission
- Daily item verification statement
- Cash Flow/Fund Flow, Cash Flow Projection
- As Tally is the platform for working, no need to maintain two software solutions; one for Business Processes and other for
- Accounts and Taxation. You get everything together.
- All the major functions of the jewellery retail business are covered.
- Easy to learn as menu is reduced to bare minimum for the end user
- A better control on Inventory is possible because traceability up to the smallest unit with its location is available
- Even in case of multi showroom business consolidation at H.O. level is possible.
- Accounts, Inventory, Statutory and MIS go Hand in Hand