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IT Firm to Bring Accounting Software for Gold Sellers

Local IT firm Enterprise Solutions Software & Services (ESSS) said it will bring a new software to the market that would be able to manage Myanmar’s gold trading houses’ financial statements.

The new “goldsmith and jewellery control system”, GoldLedger, will be able to prepare and handle purchase orders, sales receipts, and profit and loss statements for gold shops, ESSS said.

The company had previously created a gold industry software in 2002, and it took about 30 minutes to calculate financial statements, whereas the new software may take only five minutes, Ma Thae Su Wai, senior manager of Enterprise Solution, said.

“This software can assist gold shops in selling or buying from customers, calculate gold values and create profit and loss statements,” she told Myanmar Business Today. 

The software is also able to perform calculations in grams rather than in local unit “kyatthar”. The anomaly from the international system has been pointed out as a major problem for the growth of the gold industry in Myanmar by traders.

The software will be introduced in July and may cost between K600,000 and K1,000,000 ($545-908).

The company has created five other software programs in the fields of health, human resources, foreign exchange, office appliances and management.

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