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. Whether you keep it on a board, in a notebook or in your phone, make it the first entry of the day.

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 (in JewelKhata, in the order details) so disputes later have a clear answer, and record the advance received against the order.

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. 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 stores making charges as a field on each item, so the charge is recorded separately 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?

JewelKhata generates a PDF invoice from the order data and shares it on WhatsApp in one tap, including the advance and payment history. The PDF is generated on the phone (offline), so a patchy network at the counter does not block you. For GST return filing, keep using your CA's accounting software.

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