Contract Pricing Variance Report

Overview:

The Contract Pricing Variance Report will compare a vendor's contract pricing for items to their actual received cost from invoices and calculate any variances. This report can be run for a selected date range and a selected vendor (or all vendors). This report can filter the variance reporting for a user-selected threshold percentage.  

Things to know!

• The Contract Pricing Variance Report will compare a vendor's contract pricing for items to their actual received cost from invoices and calculate any variances.
• COGS-Well defines an inventory item's "price" as what the vendor is selling an item for. COGS-Well defines an inventory item's "cost" as what you pay for the item when you receive it.  
• This report will only be accessible and visible to users who are given access to this report function. 
• This report can be run for a selected date range and a selected vendor (or all vendors).
• This report can filter the variance reporting for a user-selected threshold percentage.  
• Contract pricing must first be entered via the Vendor Order Guide Pricing feature for this report to work.

Report Parameters:

To Run a Contract Pricing Variance report, navigate to Inventory> Reports>Receiving>Contract Pricing Variance. Upon selection, a Report Parameters screen like the one below will display:

Begin Date: From the drop-down calendar, select a starting date range. 

End Date: From the drop-down calendar, select an ending date range. 

Vendor: If you want to view only one Vendor, use the drop-down search to select the Vendor.

Include Never Counted Items: Inventory Items can be flagged to never be counted (an example is a mop). If you have flagged some items not to be counted, and you wish those items to be included in this report, then put a checkmark in this box. 

Cost Variance Threshold Percentage: You can manage the threshold for cost variances (0 to 100%). Items with a percentage cost variance smaller than your threshold will not be reported. 

Exclude Cost Variances for Catch Weight Items: By definition, catch-weight items (a whole fish or a case of tenderloins) will have quantities that are not determined at the time you order. You can check this box to exclude variances for catch-weight items. 

Run Report: Once you have selected your report parameters, click the Run Report button to list the report.

In the above example, we have selected to run the Contract Pricing Variance report, for a two-month date range, for Weber Quality Meats, for any cost variances that are equal to or exceed 1.00%.  

Contract Pricing Variance Report:

Below we have selected to run the Contract Pricing Variance Report subject to the criteria in the example above: 

Report Column Headings: Most of the column headings in the above report are self-explanatory. The Effective Date is the date that the Contract Pricing went into effect (it is recorded when a Vendor Order Guide Price for an item is entered).  

Variances: The Variance percent is shown for both dollars and as a percentage of the Contract Pack Price. 

Report Options: For a description of the toolbar provided at the top of the report, please see this Report Options link.