Vendor Contract Pricing - FAQs

Overview:

If you have negotiated contract pricing for inventory items with a vendor, and if you want to track and report variances between the contracted price for inventory items and what you are charged for those items, then you can do this in COGS-Well using a contract price entry feature and a contract price variance report. 

Vendor Order Guide Prices: The Vendor Order Guide Prices feature includes an option to flag vendor prices as "Contract Prices". Please click this link for detailed information on the Vendor Order Guide Prices feature.

Contract Pricing Variance Report: 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. Please click this link for detailed information on the Contract pricing Variance Report (an example of the report is shown below).