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Purchase Price Variance

  • 1.  Purchase Price Variance

    Posted 6 days ago

    Is there a report in Great Plains you use to reconcile the Purchase Price Variance GL account to? Thanks!

    Amber Schmoll
    Accounting Supervisor
    Milk Source LLC
    Kaukauna WI

  • 2.  RE: Purchase Price Variance

    Posted 2 days ago
    The Received Not Invoiced (RNI) report works just fine to reconcile the Unrealized Purchase Price Variance account (UPPV) typically a balance sheet account.
    You do need to add a column in Report Writer to the RNI report for the UPPV variance. (Received Cost - Standard Cost) * Qty Received and make it conditional for the standard cost items eg. valuation method = FIFO Periodic. Put a sum at the bottom for this column and you can now reconcile both RNI and UPPV accounts from the same RNI report.

    Thaddeus Suter
    Retus, Inc