Editing Lot Item Price and Cost Information

Use the Lot Item Status screen to maintain the details of a lot item order. This screen contains the essential information for lot billing, such as the description of the job or project for which it was ordered, the price you bid the customer, the price the vendor is charging you, and your chosen billing method. You can also assign follow up and project completion days to help you monitor the progress of the job.

Note: You cannot change the price or cost of a lot billing order once the accounting period in which it was entered closes. However, if you have authorization, you can reopen the accounting period and make adjustments, as needed.

To edit a lot item's price and cost information:

From the Orders menu, select Sales Order Entry to display the Sales Order Entry screen.
Open a sales order or bid that includes a lot item.
Select the lot item and use the NonStk/Lot hot key to display the Lot Item Status screen.
Review or edit the following fields, as needed:

Field	Description
Vendor	The company that supplies the materials to the customer. If the order is a bid or the selected line is a canceled lot item generation, this field is blank.
Description	A brief statement that identifies the lot item and its associated job or project. You can add information to or change the description, as needed, to better describe the lot item. The system uses a caret (^) to identify edited product descriptions on the Sales Order Entry screen – Body view.
Material Detail Pricing	To calculate the extended totals from the individual lot item material unit prices and costs to determine the total lot price and lot cost, enter Y; otherwise, enter N. If you enter Y, the system disables the Lot Price, Lot Cost, Advance Billing Factor, and BrkPoink% fields. When you reconcile vendor shipments, the system bases the billing on only those items that shipped for the lot item generation being reconciled. Note: If the system has generated an invoice for the lot item, you cannot change this field from Y to N.
Lot Price	The amount being charged to the customer for the lot item. If you update the GP% field, the system recalculates this amount. Changes to this field are recorded in the change log, and you may be prompted to provide a reason for the change.
Lot Cost	The amount the vendor is charging you for the lot item. This field is required. The system alerts you if you enter a cost higher than the amount in the Lot Price field. Changes to this field are recorded in the change log, and you may be prompted to provide a reason for the change.
A/R Billed*	The amount invoiced to your customer to date.
A/P Billed*	The amount the vendor has billed your company to date.
Next Followup Date	The next date to review this order. You can use this date to track direct ship order generations related to a lot item in the Customer Calling Queue and the Lot Order Status Review Queue. You cannot enter a date earlier than today's date. To follow up on the order after all shipments have been completed (as part of your customer service policy, for example), set this date later than the job or project's expected completion date.
Estimated Complete Date	The date the customer expects to finish the job or project. This is uses as a selection criterion for reviewing or reporting on lot item orders.
GP%	The amount of profit your company receives as a result of the sale of the lot item. The system calculates this amount up to three decimal places based on the lot cost and lot price. You can also enter a percentage in this field to calculate a lot price based on the lot cost. We recommend that you enter a percentage with no more than two decimal places, as entering three may cause unexpected results.
Advance Billing Factor	The system multiplies a percentage of the reconciled cost by this factor to calculate the amount to bill the customer in advance for lot item order generations billed during the life cycle of the lot item order. This factor is used only if the Material Detail Pricing field is set to N. The global default value for the ABF is set in the Lot Billing Advance Billing Factor control maintenance record. You can override this value at any stage of the billing process. For example, if you have already billed your customer in anticipation of receiving a vendor invoice, you can change the factor to 0.0 (zero) to prevent the system from generating a duplicate invoice for the customer. The system uses an asterisk (*) to indicate that the value has changed. To invoice specific amounts during reconciliation instead of allowing the system to calculate them, set the ABF to 0.0 (zero).
BrkPoint%	The percentage of vendor billing complete when the customer billing rate changes. This works with the ABF to help ensure that the customer has been charged for everything you have paid for. This is used only if the Material Detail Pricing field is set to N. and you have set the ABF to a number higher than 0.0 (zero).

*View-Only

Press Esc to exit the screen.