Invoice Variance Checking Set Up
"Invoice Variance Checking" can be configured at both the item level and the commodity level. If you want variance checking to apply to all items within a commodity, you should set this default at the commodity level.
Set Up Invoice Price/Receiving Variance Checking
Invoice Variance Checking - Item Level
1. Go to Administration → Items → Item Maintenance.
2. On the View Items page, search and double click into the item.
3. On the Product Details page, click the “Variance” tab to add invoice variance checking for the item.
4. Check all that apply to this item and fill in either Variance Checking by % or Variance Checking by $ amounts.
5. Update changes and then select “Refresh Order Guides” button.
6. If the property is using shared Global Item Master update the “Property Association” button.
Invoice Variance Checking - Commodity Level
1. Go to Administration → Items → Commodity.
2. On the View Commodities page, search and double click into the commodity.
3. On the Commodity Details page, click the “Invoice Variance” tab to set the invoice price variance checking at the commodity level.
4. Check all that apply to this item and fill in either Variance Checking by % or Variance Checking by $ amounts.
5. Update the changes and click “Update Defaults for Item(s)” button.
Triggering the Variance
Initiating Print Variance
- When there is a price or quantity variance on an invoice, use the variance report to notify purchasing or receiving and to determine the necessary steps before closing the invoice.
- In the invoice details, you can initiate a variance by adjusting the price or quantity of a line item.
- The “Print Variance” button will only appear if a variance exists. If you change the price of a line item, the “Print Variance” toolbar button will become visible.
Export Variance Report
Invoice Variance Report
1. Click the “Print Variances” button to generate the invoice variance report. This report will display the invoice details, reference documents, and, most importantly, the lines that have variances.
2. The variance report can be exported by selecting a format from the “Select Format” dropdown and clicking the “Export” button. This file can then be emailed to purchasing or receiving as needed. Be sure to update the invoice before leaving the page; the invoice will remain open in “Procurement – Invoices – Open Invoices” until you return and process it.
Open Invoice Managment Listing
Open Invoice Management
1. Once variances have been approved by Purchasing and/or Receiving, go to Procurement →Invoices→Open Invoices.
2. On the Open Invoice Management page, select the invoice to be updated by checking the box next to it or by double-clicking the invoice.
3. Make the necessary changes to the open invoice and post it for payment.
Accept and/or Change Variance
Accepting or changing the Variance
1. You can make changes to the price and/or quantity in the line item of the open invoice.
2. After making the adjustments, update the document to confirm the changes.
3. Ensure that the invoice amount matches the calculated payment, and then proceed to post the payment.
