Old Gold Purchase and Sale
Registering gold purchases in the till
- 1
Click on 'Till' in the menu.
- 2
Click on the 'Other' button at the top.
- 3
Click on the 'Old gold purchase' option.
- 4
Then enter the price per gram and the number of grams.
If you don't want to enter the amount per gram, but the total? You can also enter 1 and the total amount for the price.
- 5
Select what the gold purchase is used for to ensure correct processing in the statistics. By default, this is set to 'Cash'.
These options relate to whether or not the gold is melted down.
Options: Stock, Voucher, Repair, Order If you purchase gold and use it for a Stock item, Gift Card, Repair, or Order, select one of these options.
Consequences for your accounting:
- With these options, the revenue from the gold is deducted from your total revenue.
- With these options, the revenue is taxed at 21% VAT. This means you have to pay less tax to the tax authorities.
The system reasons as follows: The gold you purchase is processed into the item you process now or later in the sale. Thus, you only pay VAT on the added value.
So: Gold ring traded in for €100 Gold ring with diamond sold for €150. You only pay VAT on the added €50.
Option: Cash If the gold is not melted down, but you exchange gold for money using the 'Cash' option (formerly 'Cash' and 'Bank Transfer' options), you fall under specific tax rules. Gold purchases, when 'Cash' is selected, are sold exclusive of VAT. This must be placed on a separate receipt without other items. The customer's details must also be added to the receipt.
- 6
- Then add a stock product or gift card or settle the transaction directly.
Registering old gold sales in the till
Do you want to sell your old gold stock to a refinery or dealer? Follow these steps to process the amount in the till.
- 1
Click on Till in the menu.
- 2
Click on the 'Other' button at the top.
- 3
Click on the 'Gold sale' option.
- 4
Then enter the price per gram and the number of grams. (If you don't want to enter the amount per gram, but the total? You can also enter 1 and the total amount for the price.)
- 5
Settle with the desired payment method. Most companies receive the amount in their bank account. In this case, choose the 'Bank Transfer' option.
By adding the refinery as a customer to the transaction, you can create an invoice for the transaction.
Viewing the difference between old gold purchase and sale
Are you curious about the amount of old gold purchase and old gold sale? Follow these steps.
- 1
Click on Statistics in the menu (under Insights).
- 2
Select the relevant period (e.g., this year) and click the 'Apply filters' button.
- 3
Click the 'Download compact' button to download the report.
- 4
Open the PDF and scroll to the Gold Purchases/Sales section. Here you will see the amount of old gold purchase, old gold sale, and the difference between the two items.
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