Open Forum

Expand all | Collapse all

Purchase Price Variance

  • 1.  Purchase Price Variance

    GOLD CONTRIBUTOR
    Posted 10 days ago
    ​​Hello,

    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

    TOP CONTRIBUTOR
    Posted 6 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
    HELOTES TX
    ------------------------------