1. Cost of Sales
Sale of Land (Ex tax) 363,363,36
* 30% Cost of Sales 109,091.00
Posted to Cost of Sales account set against Stock type. (below)
2. Area of Land by Purchase Price Cost of Sale Recoupment
Land m2 = 400
Total of land m2 = 3000
Lot size/total land = 0.1333
Times total cost of land = 0.13 x 2,500,000
* Cost per m2 = 833.33 = $333,333.33
3. Posted to Land Area recoupment account set against Stock type. (below)
Note: Cost of Sales Land Area account can be set to different accounts if required, and by setting the % on the Estate, combined with/without Land Area values, the client can set required cost of sales calculation of sale.
4. Land Area recoupment DOES NOT work with ‘Multiple’ options breakdown