In ASP.NET - Typically, the team will store the code on a source control system such as TFS (Team Foundation Server), check it out to their own local system, develop and test locally then check it back into source control for sharing.
In SharePoint - SharePoint comes with its own document control and version history out of the box. This is great for collaborating between developers and designers, but isn’t available for everything.
Differences - Unlike TFS, SharePoint does not support multiple check-out so each file can only be checked out to one person at a time. The modification must be checked back into SharePoint.
We think the following are best tracked on a development SharePoint server:
And these should not (or cannot) be version controlled on SharePoint server: