Entering today's rates
Gold & Metal Rates
Every price in the software starts from the rate, so enter today's rates first thing each morning. The rates screen shows every metal and purity with its sell and buy rate, per your rate unit and per gram.
- 1 Open Gold & Metal Rates.
- 2 Under Update rates, choose the unit you are quoting in — gram, tola, troy ounce or kilogram.
- 3 Type the sell rate and, if it differs, the buy rate for each metal. Leave a box empty to keep the current rate.
- 4 Press Save. The new rates are used from that moment on.
How 22K, 21K and 18K are worked out
A rate entered for the base purity (24K for gold, 999 for silver) is the base rate. Every other purity is priced from it by fineness: the 22K rate is the 24K rate × 0.9167 ÷ 0.999.
If your market quotes 22K separately, enter a rate for 22K itself. A rate entered for a purity is used exactly as typed — the purity factor is never applied to it a second time.
Example
- 24K sell rate entered: 31,000 per gram.
- 22K from the base: 31,000 × 0.91667 ÷ 0.999 = 28,445 per gram.
- 22K entered by hand as 28,000: the software uses 28,000 for 22K, and keeps working 21K and 18K out from the 24K rate.
Sell rate and buy rate
The sell rate prices what you sell. The buy rate prices old gold you take back from a customer. If you leave the buy rate empty, it is the same as the sell rate.
Branch rates and approvals
Gold & Metal Rates → Feed & approvals
With several branches, a branch can have its own rate. A branch manager may change their branch's rate within the margin you allow; anything further from the main rate waits for an owner or manager to approve it.
Pending rates are listed on the rates screen with Approve and Reject buttons. Until a rate is approved, the previous rate stays in use.
A live rate feed
Gold & Metal Rates → Feed & approvals
Instead of typing rates, the software can fetch them from a rate provider every few minutes, adding your own margin. If the feed fails or a rate jumps further than you allow, the last good rate stays in use and the jump waits for approval.
Rate history, and old invoices
Rate History
Every rate ever entered is kept with who entered it and when. Rate History lists them by metal and date.
An invoice keeps the rate it was sold at. Changing today's rate never changes a sale that is already made.
This chapter describes the software as it is today. Every account gets the same guide inside the product, searchable and printable.