What Are We Trying to Accomplish?
We are offering a new brand new function to provide better insight into your costs. The Price Variance column will now appear on your Invoice Automation dashboard!
How will this help you? Your Price Variance column will reflect the differences between the price on the PO and the invoice. You'll be able to quickly analyze if the invoice is higher or lower than the PO, and by how much. You can sort the column to show you the variance in ascending or descending order.
How is Price Variance calculated?
Price Variance is populated by the following equation:
Price Variance = Invoice Net Total - Mat Cost (PO)
Price variance can be a positive or negative number. This is a sortable column, so you can easily sort your variances to view in ascending or descending order. The Price Variance column will appear on your Mismatched and Matched tabs.