The lot level is where you hold all of your details about your stock. At this level we provide information such as RPD, AREA, EASEMENTS, etc. You will need to create a Lot for every item which you need to have available for sale, dissect development expenses to, produce stock reports on etc. We would advise that you set up your lots at one of two times.
Firstly, if you wish to dissect your development costs to a lot level then you need to set up your lots as you begin development, which in most cases would be immediately after you create your stages; Or:
Secondly, when your lots are completed and ready for sale. In this case you would be dissecting your costs to a stage level and only need to create lots as they are completed. Lots can be of a certain Type, Category and Status. You get to define these items on a lot-by-lot basis and the actual Types, Categories and Statuses are maintained through the maintenance menu functions.
An example of some of these codes could be as follows:
•Type ‘GARDEN LOTS - 300m TO 500m’
•Category ‘RESIDENTIAL’
•Status ‘AVAILABLE FOR SALE’
As well as keeping the information and status on your stock, the lot level also is used for coding items such as Sales Extras at the time of sale, plus, because this is the entity you sell, the following transactions are kept at a lot level:
•The Sales invoice (i.e. the Credit for the Sale)
•The Cost recouped (i.e. the Cost of Sale Percentage for Development Expenses)
•The Cost of Sales Accruals (i.e. Legal Fees, Selling Commission)
In this way you are able to get Profit on a lot-by-lot basis in such reports as Sales & Stock Listings.
The Lot Code is a Floating-Point Number to 256 places. (We suggest you use an integer).