Gold store system

Frappe Framework
1

Is there is any way to change the price daily for all the item i have … for a gold store system … you know gold price rate will change every day …

2

Hello @GhadaEbrahim,
You can do this in multiple ways. It will depend on complexity of your setup.

  1. You can write a scheduled job the updates price of all items.
  2. You can keep Gold as an item and then use item_bundle and then update just one/few item via scheduler. .
  3. You can use BOM and the update just gold(item) price via scheduler.

References:

  1. For scheduler read this part of documentation of Frappe Framework.
  2. Product Bundle - Read this part of documentation of ERPNext.
  3. BOM - Read this part of documentation of ERPNext.
1 Like
3

Thank you for your reply@esafwan
after my research I think Pricing rule is suitable for my case.

1 Like
4

I think creating a new Currency is also viable option. We did that maybe 15 years ago for a gold store with another ERP. (Ounce price of the gold)

5

Hi @TurkerTunali
Can you explain more about creating a new Currency? How it will work?

1 Like
6

Hi,

You can create the new currency and use the exchange rate in terms of gold price. Daily basis you just need to update the exchange rate between your Billing currency and the currency you created as the price fluctuation of gold.

Thanks,

2 Likes
7

I have tried it be its not effecting rate in sales invoice

GOLD
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8

Steps to set up Gold Store system using virtual currency.

Assumption:
Base Currency – USD
Base Rate of Gold per Gram - $75 as on 03-June-2023

  1. Create a Virtual Currency – GOLD

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  2. Create Item Codes for your ornaments.

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  3. Define the price list in the GOLD currency.
    In below example I created the price list at the base rate of 03-June-2023 i.e. $75 per Gram

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  1. Let’s say on 04-June-2023 Gold price is increased from $75 per gram to $78 per gram.
    Calculate the exchange rate between GOLD Currency and USD as follows:
    Exchange Rate = New Rate / Old Rate
    Exchange Rate = $78/$75
    Exchange Rate = 1.04

  2. Set the exchange rate for 04-June-2023 as follows:

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  1. Now on 04-June-2023 Create the Sales Invoice by selecting Standard Selling Gold Price list:

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System will automatically calculate new rate as below:

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Hope this will help.

Thanks,

1 Like
9

Thank you @Mangeshrex … will try this.

10

if i want to calculete the price of a piece of gold : todays gold rate* weight .
in ERPNext it will calculate todays rate* quantity
is there is any way to calculate rate*weight??

11

Hi,

Please refer this: GitHub - efeone/aumms: AuMMS ( Aurum Manufacturing Management System ) is a Frappe App to facilitate the Operations in Gold Manufacturing

12

Hi @nimish … thanks for your reply … i have install this AuMMS app but do you have any documentation for this APP OR any instruction how to use it?