What is Cost Variance Report & what are its uses?

What is Cost Variance Report & what are its uses?

Purpose:-

 By using this feature, you make available a detailed comparison of previous purchase cost, previous selling price, previous M.R.P and current cost and selling of items, letting you find the difference between previous and current cost of items and allow you to update latest selling and M.R.P accordingly.


Benefits of Cost variance:-

1. In a single screen Supermarket owner can see those products details whose cost price will changed and they can see their previous and current Margin .

2.In purchase entry screen they have to select product one by one and they can check previous and current so it will take so much time that's why we used Cost variance screen..


Steps to be perform:


1) Click on Purchase >> Miscellaneous >> Cost Variance >> The Cost Variance screen is displayed.


 

2)  Enter Purchase period from date range field.

Purchase Period – From which you want to compare cost.

 3) Select Type – Based on which you want to see the result

 

Please select the type based on which you want to see the result. Like if you want to see those record only which has some cost variance then select Cost Variance. As of now we are selecting All Items as we are going to generate report of all items which are purchased during the mentioned purchase period.

 

 

4) Select Order By : By which you want to sort the records.

 

5) Now click on F1 Refresh functional key to load the records.

 

 

6) Once you click on the refresh functional key, all times will show here in the left panel of the screen. And in the right panel of the screen cost variance details will be displayed. Here we can see items cost variance details by moving cursor on the item. In the cost variance screen we can see previous and current cost, M.R.P, selling with margin details.

 

 

 

7) To update item’s New Selling rate select the item and enter the selling rate in the NewSell field.

 

 

 

 

8) Click on Update (F6) functional key to update new selling rate. Similarly we can update Repack and Price Level from this screen by using respective functional key.

 

 

9) To view an item purchase history on cost variance screen, select the particular item and press F5 (Pur His) functional key.




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