LAND DEVELOPMENT

Has anyone ever had the opportunity to deal with or set up a Land Development Company. I am attempting to deal with allocating development costs down to individual lots (by a percentage of the total project) without having to keypunch up to 1100 to 1200 entries for every expenditure. - HELP !!

  • 0

    I have been fighting for the proper and easier way to allocate projects (lots) for a number of years. My client is a small sub-division construction company with about 100 lots compared to your need to allocate to 1200 lots.

  • 0 in reply to Alwyn

    I hear ya Alwyn. I need to "allocate" a given development cost (expense) to each lot as a percentage of that lot's area compared to the area of the entire project.

    How are you currently handling your problem ?

  • 0 in reply to eagle313

    My client has been calculating the percentage or dollar value and then on the vendor invoice allocating by percent or dollar to each of the projects/lots.

    However, the accountant was changed this past year and the new accountant wants everything dealt with differently. I am not sure if the owners will agree but the accountants want all expenses capitalized as part of the development costs of the land and then make one entry at the end of the year, out and then in with allocation. This looses the detail at the individual expense lines.

    At the recent Sage Inspire Tour in Toronto this problem was expressed with at least two present, in the room, who are experiencing difficulties with the allocation. The suggest was to provide a check box for each project and then for the program to allocate the expense across all projects checked.

    A work around for recurring entries would be to save the invoice with a significantly high dollar value for each account. Then when the invoice is recalled and a lower dollar value is put on the line the allocation is adjusted accordingly. The allocation must be by percent in this case. If the account is changed or the value is higher than the saved amount then the allocation is lost.