Editing Lot Item Price and Cost Information

Use the Lot Item Status window to maintain the details of a lot item order. This window 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 window.

Open a sales order or bid that includes a lot item.
Select the lot item.
From the Line Item menu, select Lot Item Status to display the Lot Item Status window.
Review or edit the following fields, as needed:

Field	Description
Vendor	Displays 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. (View Only)
Description	Displays 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 window– Body view.
Lot Price	Displays 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. Note: If you attempt to commit a change order with an open lot price on a junior order that is less than zero, the system displays an error message.
A/R Billed	Displays the amount invoiced to your customer to date. (View Only)
A/R Remaining	Displays the remaining amount owed to you. (View Only)
Lot Cost	Displays 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. Note: If you attempt to commit a change order with an open lot price on a junior order that is less than zero, the system displays an error message.
A/P Billed	Displays the amount the vendor has billed your company to date. (View Only)
A/P Remaining	Displays the remaining amount you owe. (View Only)
Next Followup Date	Enter 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, for example, as part of your customer service policy, set this date later than the job or project's expected completion date.
Estimated Complete Date	Enter the date the customer expects to finish the job or project. The system uses this information as a selection criterion for reviewing or reporting on lot item orders.
Advance Billing Factor	Enter the amount to bill the customer in advance for lot item order generations. 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 you do not select the check box for the Material Detail Pricing field. 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).
Material Detail Pricing	Do one of the following to determine whether to calculate the extended totals: Select the check box - Calculates the extended totals from the individual lot item material unit prices and costs to determine the total lot price and lot cost. If you enter select the check box, the system disables the Lot Price, Lot Cost, Advance Billing Factor, and BreakPoint fields. When you reconcile vendor shipments, the system bases the billing on only those items that shipped for the lot item generation being reconciled. Deselect the check box - Does not calculate the extended totals. Note: If the system has generated an invoice for the lot item, you cannot change the setting for this field from a selected check box to a non-selected check box.
Gross Profit %	Enter 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.
BreakPoint	Enter 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 field is used only if the check box for the Material Detail Pricing field is not selected and you have set the ABF to a number higher than 0.0 (zero).

Exit the window.