Indian Jewelry Store Software for 22K Gold, Kitty Plans & Bullion

A kitty plan (also called a gold scheme or gold savings plan) is a monthly savings plan many Indian jewelry stores offer: the customer pays a fixed amount every month, and at the end the store adds a bonus installment and the customer spends the whole amount on jewelry. In WJewel each plan has its number, customer, start date, plan amount and store, and every payment, the bonus and what is still due are kept on the plan.

The plan amount includes the bonus: the customer pays twelve thirteenths of it, and the last thirteenth is the store's bonus. On a $1,300 plan the customer pays $1,200, for example $100 a month for 12 months, and the store adds $100. When the last installment comes in, WJewel asks whether to add the bonus. If you close a plan without it, Add Bonus To A Plan adds it later.

Convert Paid Amount into Store Credits turns everything on the plan, the payments and the bonus, into a store credit in the customer's name, which they spend at the counter like any other store credit. The plan statement shows the conversion and the store credit number.

Enter the day's gold, silver and platinum prices once in Daily Metal Prices, and WJewel shows the 22K, 18K, 14K and 10K gold rates. With pricing on gold turned on, a new invoice starts from that day's prices, and each piece is priced from its gold weight at the rate for its karat, plus the labor for that karat, plus its stones. The invoice keeps the prices it was saved with and prints them.

Yes. You type in the day's gold, silver and platinum prices per troy ounce in Daily Metal Prices, so you always price from the rate you choose, and WJewel works out the rate per gram for each karat. With gold at $3,949.50 an ounce, 22K comes to $116.41 a gram. Each day's prices are kept by date.

Each karat line, such as 22K or 18K, has its own labor rate, which WJewel multiplies by the piece's gold weight. Stones are priced from their weight and the rate for their stone type. A piece you sell at a fixed price is simply marked as sold by the piece, and keeps its own price.

The customer buys gold by the gram at your rate for the day, as often as they like, and the store keeps the gold for them. WJewel records each purchase (date, grams and rate per gram), takes the payment, and writes the invoice. When the customer is ready, Redeem Bullion lists their grams, records what they take and the premium they pay. Silver bullion schemes work the same way.

Yes. Choose the general ledger accounts for kitty plans once, and every plan and payment posts to WJewel's built-in general ledger. Each bullion scheme writes its own paid invoice. Statements for plans and schemes print, or go out as PDF, email or Excel.

Yes. The full program runs in a web browser on a PC, Mac, iPad, Android tablet or phone, so you can take a kitty payment at the counter or look up a customer's plan from anywhere.

Yes. Start a 30-day free trial, or book a live demo and we will walk through a kitty plan and a gold-priced sale with your own rates.