I am often asked how to report on historical purchase price variances, and it is very difficult/impossible to do historically. The PO Variance Register is the only reliable source for that information since it is not stored anywhere. It would be really helpful to have a PO Variance file that contains the relevant information...PO Number, Vendor Number, Transaction Reference Number, Transaction Date, Item Number, Quantity, PO Price, and Invoice Price for reporting purposes. This would make it easy to generate a report on historical price variances for evaluating the performance of buyers. It would also provide the accounting department and auditors with an audit trail of what generated the postings to the PO Price Variance account.

by: Jeff L. | over a year ago | Sales & Distribution