14 March
Run the shop, not the spreadsheet.
Milleso runs the back office for the watch and jewellery trade. One record per piece, from the moment it comes over the counter: what it truly cost after the bench, which of the three UK VAT regimes it sits under, where it physically is today, and how long the market takes to absorb one.
One month free for every new dealer, and we move your stock in for you. No card to start.
Margin schemeGold reverse chargeInvestment gold registerHVD cash monitoringAML audit trailExports to Xero and Sage
One record
A watch, and every number that follows from it.
All-in cost
£25,537
VAT treatment
Margin scheme
Where it is
With the polisher
Velocity
Grade A
Sold, 17 April
£5,180 kept
The part that pays for it
The same watch. Five times the tax.
One field at intake decides which regime a piece sits under. Milleso asks for it while the seller is still standing there, keeps the records that regime demands, and locks the treatment the moment a sale document exists.
Margin scheme
£1,183
VAT on the difference between what you paid and what you sold it for, at one sixth.
Standard rated
£5,317
What the same sale costs you when the treatment was never set, or was set wrongly.
Worked on the piece above: bought at £24,800, sold at £31,900. Margin scheme under VAT Notice 718; the gold reverse charge under Notice 701/21 section 11. Milleso keeps the records and prompts you. Your accountant still signs the return.
Watches and jewellery in one list, priced the same way.
A 1.02ct solitaire, a 42.6g chain and a Daytona are three completely different objects with three different tax positions, and they still belong on one screen with one capital figure at the top of it.
Search stock, clients, references
⌘KStock
6 pieces held. £79,041 of capital tied up.
AllOut of the safe
| Piece | Where | VAT | All-in | Asking | Days | Grade |
|---|---|---|---|---|---|---|
| Cosmograph Daytona126500LN | With the polisher | Margin | £25,537 | £31,900 | 34 | A |
| GMT-Master II126710BLNR | Safe | Margin | £12,180 | £15,450 | 12 | A |
| Solitaire, 1.02ctJW-0412 | At the bench | Margin | £2,940 | £4,650 | 61 | B |
| Submariner Date116610LV | Safe | Margin | £9,760 | £12,900 | 148 | C |
| 9ct chain, 42.6gGD-1188 | Melt queue | Reverse charge | £1,214 | £1,690 | 3 | - |
| Day-Date 40128238 | Assay Office | Margin | £27,410 | £34,500 | 22 | B |
The screens
Twelve screens. One record behind all of them.
A piece taken in at the counter is the same record on the workshop board, on the channels, at the till, on the VAT return and in the compliance file. Pick a screen.
What the safe is worth, what needs chasing
Every figure on it is a door.
Capital tied up at all-in cost, unrealised margin at asking and the VAT mix across the safe, then five counts: live stock, asking total, out of the building, overdue back and over 180 days. Each one opens the stock list already filtered to the pieces behind it. Ageing stock is listed oldest first with the carry cost in pounds against each piece, and a sales login sees the same page with the costs left out rather than zeroed.
Search reference, serial, stock number
⌘KDashboard
13 modules · VAT registered · HVD registered
£186k
Capital tied up
31 pieces at all-in cost
£47k
Unrealised margin
at asking · 20.2%
VAT treatment
Margin scheme 24Gold reverse charge 4Investment gold (exempt) 2Standard rated 1
Live stock
31
In stock, reserved or on memo
Out of the building
4
£38,911.00 all-in
Overdue back
1
Past the promised date
Over 180 days
6
£41,270.00 sitting still
Ageing stockSorted by days held
Needs you today
Stock by categoryAt cost
Watch19 pieces£142,380
Jewellery8 pieces£27,921
Gold4 pieces£16,111
One list, one capital figure
Watches, jewellery and gold in one list, with every tax position on the row.
All-in cost next to asking, where each piece physically is, the days it has been held and its velocity grade. The VAT treatment sits on the row because it was decided at intake, and the filters a dealer reaches for are one tap: out of the safe, over 90 days, no VAT set. Service, polishing and courier attach to the piece as cost lines, so the margin comes off what it actually cost.
Search stock, clients, references
⌘KStock
6 pieces held. £79,041 of capital tied up.
AllOut of the safe
| Piece | Where | VAT | All-in | Asking | Days | Grade |
|---|---|---|---|---|---|---|
| Cosmograph Daytona126500LN | With the polisher | Margin | £25,537 | £31,900 | 34 | A |
| GMT-Master II126710BLNR | Safe | Margin | £12,180 | £15,450 | 12 | A |
| Solitaire, 1.02ctJW-0412 | At the bench | Margin | £2,940 | £4,650 | 61 | B |
| Submariner Date116610LV | Safe | Margin | £9,760 | £12,900 | 148 | C |
| 9ct chain, 42.6gGD-1188 | Melt queue | Reverse charge | £1,214 | £1,690 | 3 | - |
| Day-Date 40128238 | Assay Office | Margin | £27,410 | £34,500 | 22 | B |
Photograph once, record once
The treatment is decided while the seller is still standing there.
One form, not a wizard. Photographs first, then what the piece is, then where it came from: the source you pick suggests the VAT treatment with the reason and what that regime requires, and the suggestion changes as you tick priced at metal value or qualifies as investment gold. The seller is attached to a client record, which is where their identity check and documents live, so the acquired-from trail starts on day one. The purchase price becomes the first cost line and the margin base.
Search reference, serial, stock number
⌘KIntake
Photograph, describe and cost a new piece.
Take inOffers
Photographs
DialleadCasebackCardAdd photo
3 to upload on save. First is the lead.
What is it
Category
Watch
Brand
Rolex
Model
Cosmograph Daytona
Reference
126500LN
Serial
From the caseback
Money
Purchase price
24,800
Asking price
31,900
Reserve
28,000
Where it came from
Acquired on
2026-08-19
Source
Private individual
Bought from
Attached to the client record
Search the client book or add new
Looked after by
Nobody yet
Whose shelf it sits on
Priced at or below metal valueQualifies as investment gold
Suggested Margin scheme
Bought without a VAT invoice, so VAT is due on the margin only.
- Record purchase price, seller and date in the margin scheme stock book
?Not tax advice
VAT treatment
Margin scheme
Using the suggestion above
Add to stockSave and add another
Saves as a draft; “Add another” keeps seller, source, date and person.
Out of the building, and customer property
Your stock out of the building, and customers’ property kept apart from it.
The board is every piece that has left the safe: with whom, what the job is, what was agreed and when it is due back, with the late ones marked. Listings pause while a piece is out and resume when it is booked back in. Repairs are a separate book because a customer’s own watch is held under bailment: it has a job number, a promised date and a stage, and it is never counted in your stock value or the margin scheme stock book.
Search reference, serial, stock number
⌘KWorkshop
Every piece out of the building, and who has it.
BoardList
Repairs
Work on customers’ own property, kept separate from stock.
On the book
7
Customer pieces in your care
Ready to collect
2
Waiting for the customer
Past the promise
1
Promised date passed
Open jobs7 on the book
Spot, the carat calculator, melt or resell
Weight, fineness and spot, with the arithmetic shown in front of the customer.
Spot per gram fine for gold, silver, platinum and palladium, in sterling, refreshed every minute. The counter calculator takes metal, purity and weight and shows fine metal per gram, the rate at that fineness, the intrinsic value and the offer at your own buy rate; one tap takes the piece into stock at that price, and a piece taken in at or below metal value is flagged for the gold reverse charge. Melt or resell runs over everything in stock with a weight and fineness: resell when the asking sits at least 25 percent above what the metal fetches today, otherwise melt.
Search reference, serial, stock number
⌘KGold desk
Spot in sterling, the counter price at your rate, and what your metal is worth today.
Gold per gram, fine
£85.17
£2,649 an ounce
Silver per gram, fine
£0.98
£30 an ounce
Live · updated 34s ago · Spot from gold-api.com, converted at the ECB rate.Updates every minute while this page is open.
Counter calculatorgold 85% · silver 70% · platinum 80%
Metal
Gold
Purity
9ct
Weight, grams
42.6
Your buy ratepercent of intrinsic value
Gold, % of spot
85
Silver
70
Platinum
80
Saved. Every quote reprices.
Offer at 85% of spot
£1,156.54
- Fine metal per gram
- £85.17
- At 375 per gram
- £31.94
- Intrinsic value
- £1,360.64
- Offer
- £1,156.54
Take it in at £1,156.54
Melt or resell5 pieces · £7,249 of metal · 3 worth melting
Day’s supply, price to market, A to D
How long the market takes to absorb one, next to how long you have had it.
Day’s supply is live comparable listings over the trailing 45-day sale rate for that reference. Each piece gets its price to market against the median comparable, the margin at asking, and a grade from A to D with a plain instruction: hold, sharpen slightly, reprice by 8 percent, memo out or trade. Bullion and scrap are not graded because their price is off spot, and a reference needs 5 live comparables and 3 sales in the window before it gets a letter.
Search reference, serial, stock number
⌘KVelocity
Stock graded by how fast the market absorbs it, worst first.
Market data1,284 referencesTrailing 45-day sale rateCopied in2026-08-18
Grade A
9
well placed
Grade B
11
on track
Grade C
6
worth a look
Grade D
5
unlikely to clear
Day's supply by piece31 pieces
Shopify, eBay and the Chrono24 feed
A sale anywhere delists everywhere, and a piece out of the building is paused.
Shopify listings carry the stock number as the SKU, one unit, at the asking price, and the table shows each one as listed, paused or delisted with when it last synced. Out of the building, whether with the watchmaker, the polisher, on approval or on memo, the product goes to draft; back in the safe it is active again. eBay connects under your own account. The Chrono24 feed is hosted and ready; Chrono24 enable collection on a dealer’s account themselves, which takes a couple of weeks with their team, and from then it is collected once a day on their schedule. A piece out of the building is never in it.
Search reference, serial, stock number
⌘KChannels
Your stock on your own shop fronts. A sale anywhere delists everywhere.
Listed now
27
£184,300 at asking
Paused
4
out of the building
Orders to ring through
1
from your stores
Listings27
eBayready
- Account
- connected
- Connected
- 2026-06-02
- Setup
- policies and location in place
Check eBay setupList all live stock
Chrono24feed on
- URL ending
- ...a91f
- Last collected
- 2026-08-18 04:12
- Listings sent
- 23
- Collections
- 61
A piece out of the building is never in the feed. Chrono24 collects it once a day, on its own schedule.
?What is pushed, and when it changes · Sold: archived, quantity nought. Out of the building: draft. Back in the safe: active again.
Wish lists, key dates, identity
Who they are to you, whether they have been checked, and what they are waiting for.
Buyer, seller, consignor, trade, supplier or VIP, with the identity check and risk rating visible to managers on the same row. Wish lists are matched against stock as pieces come in, so a want for a reference shows the stock number the moment you hold one. Key dates in the next thirty days sit alongside, and the occasions are yours to name. Identity documents live on the client record and open only for a manager.
Search reference, serial, stock number
⌘KClients
Everybody you buy from, sell to, or hold a piece for.
Clients
142
on file
Buyers
88
you sell to
Identity not verified
7
need an ID check
Name, company, email, phone, VAT number
142 clientsClients142 records
Looking for12 open · 3 with a match in stock
Coming upnext 30 days
Part exchange, payment, invoice
A part exchange is two transactions, and the till shows it as two.
The piece is checked against the counter first, photograph and reference on the line, with the VAT treatment read off the record rather than asked for again. A trade-in goes into stock as a purchase from the buyer at the allowance, while the outgoing piece is invoiced at its full price, because the allowance is consideration rather than a discount. The payment method is one tap, the gold panel totals it before the button, and the invoice is raised under the piece’s regime when you sell.
Search reference, serial, stock number
⌘KTill
Sell a piece, take the money, issue the invoice.
Sale in progressS-0244
Total due
£23,700.00
- Cosmograph Daytona 126500LN
- £31,900.00
- Part-exchange allowance
- -£8,200.00
- Bank transfer balance, paid now
- £23,700.00
- Paid in full
- £0.00
Sell and invoice
?How the sale is recorded
Margin scheme, reverse charge, exempt gold
The invoice carries the regime’s wording, and the return is worked out by regime.
Every document shows its treatment and status, and the wording on it follows the regime: the margin scheme endorsement with no VAT shown, the reverse charge statement for gold at metal value, the exemption wording for investment gold. The period’s VAT is worked out by regime, and the exports go to Xero, Sage Accounting and Sage 50, with the VAT return figures and the margin scheme stock book as spreadsheets. If the VAT in a file does not equal the VAT on the return, you get an explanation instead of a file.
Search reference, serial, stock number
⌘KInvoices
Invoices, proformas, receipts and credit notes.
Documents
212
on file
Drafts
1
not yet issued
Documents212 on file
VAT this period2026-07-01 to 2026-08-19
- Margin scheme
- £4,108.33
- Standard rated
- £325.00
- Gold reverse charge
- £0.00
- Investment gold (exempt)
- £0.00
- Output VAT
- £4,433.33
- Reclaimable input VAT
- - £612.40
- Net VAT
- £3,820.93
Export to your books2026-07-01 to 2026-08-19
Xero sales invoices
Import under Business, Invoices, Import.
Xero credit notes
Xero imports credit notes separately from invoices.
Xero bills (purchases)
Stock bought and workshop costs.
Sage Accounting sales
The cloud product. One row per line.
Cash threshold, gold register, retention
The register, the cash threshold and the retention dates, on one overview.
Exempt supplies of investment gold go into the register with the customer’s identity status and their rolling twelve-month total, and a 28-day notification clock starts at a single supply over £5,000 or a customer over £10,000 in twelve months. Linked cash is totalled per customer against the £10,000 high value dealer threshold, with a warning band from £9,000. Identity files carry the date they may be destroyed, and the record of the check stays when the file goes.
Search reference, serial, stock number
⌘KCompliance
The investment gold register, the cash threshold and document retention.
OverviewInvestment gold register
Investment gold register
14 transactions, 1 incomplete
2 notification clocks running
Cash threshold
In the warning band
warning at £9,000.00
Document retention
3 past their date
identity files, five years
The register14 transactions · 1 incomplete
Linked cash by customerIn the warning band
Records and prompts, not legal or tax advice. Notice 701/21 for investment gold; MLR 2017 as amended for the £10,000 cash threshold; regulation 40 for retention.
Terms, floors, payouts, memo out
Other people’s pieces in your stock, and yours out with other dealers.
Each agreement holds the terms, a commission or a fixed net return, the floor the till will not go below, and the consignor’s own VAT position, which governs the sale. Once a piece sells, what is owed shows against the row until it has been paid out. Memos to other dealers list the pieces, the memo price and the insured value, with the date they are due back and the overdue ones marked.
Search reference, serial, stock number
⌘KConsignment & memo
Other people's pieces in your stock, and your pieces out with other dealers.
Active agreements
6
In stock, not yet sold
Owed to consignors
£4,837.50
1 sold, not paid out
Consigned pieces6 agreements
Memo outNew memo
What it does that your current system does not.
All-in cost, not purchase price
Service, polishing, courier, parts and commission attach to the piece as separate cost lines. The stock list shows what it actually cost you, and margin comes off that figure rather than off what you handed the seller. A spreadsheet holding one purchase price cannot tell you which pieces are quietly unprofitable.
Where every piece physically is
With the polisher, at the Assay Office, out on memo, in the safe, on a customer’s wrist for the weekend. Listings pause automatically the moment a piece leaves the building, so nobody sells something you cannot ship. Customer property held for repair is tracked separately and never counted as stock.
How long the market takes to absorb one
Market day’s supply for that reference, next to how long yours has been sitting, with the carry cost in pounds against each piece and an A to D grade on the list. Ageing stops being a feeling in the pit of your stomach and becomes a number you can price against.
Three channels, one stock record
eBay and Shopify stay in step, and the Chrono24 feed is generated and hosted for you, ready for Chrono24 to switch on for your account. WooCommerce is coming. A Chrono24 sale is thirty seconds to log rather than a re-key. Sell a piece anywhere and it comes off everywhere, including the window card.
The gold desk
One metal walks in. Three tax outcomes walk out.
Over the counter
Scrap, at metal value
Weighed, tested and priced against live spot at the counter, with the per-carat calculator doing the arithmetic in front of the customer. Where the price is the metal, the reverse charge is compulsory and the margin scheme is barred outright.
Notice 701/21, section 11
On the tray
Jewellery, at made-up value
A mounted stone is a piece of jewellery and the margin scheme is available on it. Unmounted, the same stone is not. Milleso asks the question that decides it once, at intake, and carries the answer through to the invoice.
Notice 718
In the safe
Investment gold, exempt
Bars of 995 fineness and above, and legal-tender coins of at least 900 minted after 1800. Exempt, but it carries a statutory register, verified identity, six years of retention and an HMRC notification above £5,000. Milleso keeps the register and tells you before HMRC has to.
Notice 701/21, and a penalty near 17.5% of transaction value for register failures
Four ways in.
You pick one when your account is set up and it switches on a starting set of modules. It is a starting point, not a cage: a jeweller who begins buying scrap turns the gold desk on in settings, without calling anyone.
Watch dealer
Pre-owned and vintage watches. Chrono24 and eBay are your shop window; capital tied up in stock is your problem.
- Velocity grading
- Chrono24 feed
- Consignment & memo
- Trade network
- Margin scheme
Independent jeweller
You sell watches and jewellery, buy scrap gold over the counter, take repairs in and write valuations. All in one day.
- Gold desk
- Repairs & valuations
- Till
- Investment gold register
- All three VAT regimes
Gold buyer / pawnbroker
A counter business. Price per gram, melt or keep, and a compliance file that stands up to HMRC.
- Spot & carat calculator
- Investment gold register
- Cash threshold monitoring
- Scrap and melt
Luxury resale / consignment
Bags, jewellery, sneakers and watches on consignment. Listing everywhere and paying consignors on time is the job.
- Consignment payouts
- Multi-channel listing
- Authentication
- Cross-category
Included, at no cost
We move your stock in for you.
Getting the stock in is the whole battle, and it is the reason most dealers stay on a spreadsheet they have outgrown. So it is not a service you buy from us. It is how you start.
One
Send us what you already have
A spreadsheet, a folder of supplier invoices, an export from whatever you run now, or photographs of the safe. Whatever shape it is in.
Two
We do the mapping
References, metal and stone detail, purchase prices, dates, locations and the VAT treatment on each piece, put into your account by a person rather than left as a job for you.
Three
You check it and trade
You get a reconciliation against your own figures before anything goes live. Most dealers are working in it the same week.
One month free, then pick your shape.
The free month and the onboarding are not an offer with a clock on them. They are how Milleso is sold, because a back office you have not filled with your own stock tells you nothing.
Trade
£99per month
One shop, one counter. Everything a jeweller opens six mornings a week.
- Stock, intake, workshop and repairs
- All-in cost against every piece
- Five roles, with costs hidden from sales staff
- All three VAT regimes, by trigger not by dropdown
- Invoices, AML audit trail and cash thresholds
- The till, and the counter it sits on
- Clients, wish lists and campaigns to your own client book
- Trade network for dealer-to-dealer wanteds
- Exports to Xero and Sage
One month free. Onboarding included. No card to start.
Pro
Most dealers£249per month
The numbers that decide what to buy next, and the pieces that are not yours to sell.
- Everything in Trade
- Velocity grading: market day’s supply, price to market, A to D
- Buy-side scoring on what you are offered
- Consignment, memo and consignor payouts
- Customer orders and deposits
- Gold desk with live spot and the carat calculator
- Campaigns from your own sending domain
One month free. Onboarding included. No card to start.
Showroom
£499per month
Every channel you sell through, and every branch you sell from.
- Everything in Pro
- eBay, Shopify and the Chrono24 feed
- WooCommerce - coming
- Multi-store branches and stock transfers
- Priority support
One month free. Onboarding included. No card to start.
Per organisation, per month, excluding VAT. Milleso is not a payment facilitator and takes nothing off your transactions. Card machines and customer finance are referred, and you deal with the provider directly.
Open it on day one with your own stock in it.
Create your account, answer four questions about how you trade, and the system is set up around your business. Bring your stock list and we move it in for you.
One month free. No card to start. Or try the free scrap gold calculator first.