Track your raw materials from purchase into finished goods properly and price accordingly.
- fully functional,
You can start adding your inventory immediately.
There are tabs for each type of material, which you can customize for your needs.
The Finished Jewelry Pricing formula is based on a the Maximum Profits Pricing formula by David L. Feldman specifically for the jewelry industry and includes wholesale and retail markups.
You understand the concept of entering raw materials (gems, beads, chain, clasps, sheet metal) into inventory when you purchase them and entering the finished item (ie: gemstone necklace or thingamabob ring) so that you can enter it on an invoice when you sell it.
When sold, the retail price of the finished piece goes into the Sales Income and the cost goes into Cost of Goods Sold. The difference is your profit.
If you are confused here, then click here to brush up on your inventory knowledge with our recent post, or check out the online training course for Xero, which shows you exactly how to take the burden of financial luggage off your shoulders and gain control of your numbers.
Get the Inventory Tracking and Pricing Workbook for Jewelry Makers!
Also included is the Cheat Sheet for Understanding Sku Numbers and Naming your Jewelry to identify it easily and create a system that works for you!
Scroll up to purchase the official Jewelry Inventory Tracker and Pricing Tool by Accounting for Jewelers
50% of your purchase of this product goes directly to David Feldman of Maximum Profits Pricing for his contribution to the jewelry industry in developing this formula after many years in the industry and witnessing first hand that businesses were not actually covering their costs.