In an organization, there can be a need to check the differences between the standard cost of an item and price on which the item is purchased. In order to achieve that, Sage Intacct provides a Purchase Price Variance report that show the difference between the purchase price on the purchase order and standard cost of the assigned items to be purchased.
To access this report, go to Purchasing > All tab > Reports > Purchase price variance.
- Time period – Select Reporting period using the provided drop down or opening and closing balance date filters as required. If you don’t specify a Reporting period, the system will generate a report for the current month to date.
- You can change report type using Report type filter.
- Set the filters to get the specific data you want. Filters enable you to include or exclude specific types of data in the report such as Items, UPC, Vendor, Vendor type etc.
- You can select Location/Department to get the data from particular location and department.
- Select Format. You can set the layout of the report or arrange how to group and display the data contained in the report.
- Enter a title, subtitle, and footer text for your report.
- You can View, process, memorize, export, or customize the report or add it to the dashboard by using button given in right corner of the screen.
This report is helpful to analyze the profit that an organization made by reviewing the standard cost that is planned for an item and the price at which the item was purchased from vendors.
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