How to track the daily gold rate in your jewellery ledger (and price orders correctly)

A jeweller's margin can vanish if the day's order is booked at yesterday's rate. Here is the workflow most shops use and how to set it up cleanly so you never undersell again. Six minute read.

How do I record the gold rate each morning?

Open the day with one entry: 24K and 22K rate per 10 grams. Some shops also note silver and platinum. Save it before you take the first walk-in. In JewelKhata, the Settings → Daily Rates screen takes about 15 seconds and is the first thing the dashboard prompts you to do.

What does "locking the rate at order time" mean?

When the customer commits to an order, the rate on that order is the rate at that exact moment — not the rate when the order is delivered two weeks later. Write the locked rate into the order record so disputes later have a clear answer. JewelKhata stamps the rate into the order automatically when you create it; you can override it if a discount was agreed.

How do I calculate the gold value of an item?

The formula:

Example: a 22K piece weighing 10.5g net at ₹6,200/g 24K rate is: 10.5 × 6,200 × (22/24) = ₹59,675. The app does this for you in the order screen — do not eyeball it. The single most common ledger mistake we see is shops doing this on a calculator and forgetting the purity adjustment.

Where do making charges fit in?

Making charges are usually a percentage (10–25%) of the gold value, or a fixed per-gram rate. Be explicit on the invoice: customers in 2026 expect a transparent breakdown. JewelKhata lets you configure the making charge model per-order (some pieces are sold at flat percentages, some at per-gram, some at fixed). The invoice line item is always separate from the gold value.

How do I handle stones, GST, and discounts on the same invoice?

The order on the invoice matters. Do them in this sequence:

1. Gold value (net weight × locked rate × purity adjustment)
2. Stone value as a separate line item, if applicable
3. Making charges as a separate line item
4. 3% GST on gold value + 5% GST on making (current GST treatment as of 2026 — verify with your CA)
5. Discount last — applied to the subtotal, not to GST

What goes on the invoice itself?

A clean PDF with the rate locked, weights itemised, and the breakdown shown is the difference between a customer who trusts you and one who calls back asking how you arrived at the number. The required items on a hallmarked-gold invoice in India in 2026:

• Item description with weight in grams (gross AND net if stones are present)
• Purity (22K, 18K, etc.) and BIS hallmark or HUID number
• Per-gram gold rate locked at order time
• Making charges (percentage or per-gram, line item)
• Stone value (if applicable, line item)
• GSTIN if you are GST-registered, plus IGST/CGST/SGST split
• Customer name and contact
• Order number and date

Does JewelKhata handle this automatically?

Yes — JewelKhata generates a PDF with all of the above from the order data. One tap shares it on WhatsApp. The locked rate, weights, hallmark, and payment history are all included. The PDF is generated on-device (offline) so even patchy network at the counter does not block you.

Common mistakes that cost margin

• Leaving the rate blank on the order and back-calculating it weeks later — your gross margin will not tell you the truth
• Using gross weight instead of net weight for stoned pieces — you give away the stone weight of gold value for free
• Charging making at the gold value AFTER discount instead of BEFORE — a small slip that compounds over the year
• Recording purity in the notes column instead of as a structured field — search and reports become useless
• Skipping the GST line on cash sales because "the customer did not ask" — your books then do not match the cash drawer at month end