Receipt/Invoice Variance Register

 

If there is a difference between the item cost entered in Receipt of Goods Entry and the cost for that item entered in Receipt of Invoice Entry, the Receipt/Invoice Variance Register prints after the Daily Receipt Registers update is performed. This report shows the quantity ordered, quantity received, quantity invoiced, unit cost received, unit cost invoiced, unit cost variance, and variance amount for each item. The variance amount is totaled and a report total is printed.  

An extended variance showing the total difference between costs recorded to inventory and amount invoiced is shown. The total variance amount is shown for each purchase order on the report. If the Inventory Management module is not integrated with Purchase Order, this register will not print.

After the Receipt/Invoice Variance Register prints and is updated, the variance amount is posted to the Purchases Clearing and Purchase Order Variance Adjustment accounts. The items with the cost variance should be adjusted following the guidelines described in Adjusting Inventory Cost Variance.

This report also indicates quantities invoiced or received that exceed the original order quantity. These quantities are listed with the message Over-Invoiced or Over-Received. Use Return of Goods Entry to enter the return quantity to correct an over-received condition, or use Receipt of Invoice Entry to enter a negative invoice quantity to correct an over-invoiced condition.

After the variance register prints, the "Do you want to update the variance register?" message appears.

Note The Receipt/Invoice Variance Register must be printed and updated before additional receipts can be entered.

Note Items are only printed on the report if the quantity received equals the quantity invoiced. Cost variance amounts are not reflected on the Purchases Clearing by Items Only or by Product Line report until the purchase order has been completely received/invoiced.

For more information, see:

Receipt of Goods Entry

Receipt of Invoice Entry

Return of Goods Entry

Daily Receipt Registers/Update

Receipt of Invoice Entry Process

Adjusting Inventory Cost Variances

Print a Journal or Register as a PDF

Report Sample