Invoice Price Variance Process Accounting
Invoice Price Variance Process Accounting: Note: Below Working and results are only applicable where Purchase Orders and Invoice are not routed through LCM Module. For LCM Enabled Items IPVs are routed and transferred to Inventory directly from LCM. Invoice Price Variance is variance between the invoice price and the purchase price for all inventory and work in process related invoice distributions. Payables records invoice price variances when the invoices are matched, approved, and posted. This Article covers the detail Accounting for Oracle Invoice Price Variance Process and also its effect on item Unit Cost in Inventory. Let's Put up a scenario here. We will be receiving an item in Inventory which has currently no On Hand Balance or Unit Cost in Inventory. We Booked a Purchase Order for Quantity 100 at Unit Price of BDT 10 . We did the Receipt of the booked Quantity 100 at 01-August-2014 and receipt delivery was made on same date with all quantity acce...