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Hi everyone,
Could anyone tell me the difference between an Inventory Adjustment/Variance transaction entry?
Thanks
Francis
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I'd like to know this as well. We seem to be having issues with Average cost if inventory is entered as a variance entry and not an adjustment. Wondering what the difference is.
The differences are in the Document Number sequence used and Document Type (Adjustment vs. Variance) and that different accounts can be designated for the two transactions. Operationally, there isn't any difference between the two transaction types.
Thanks!
This is what I learned about the difference.
Adjustment transactions: Use to account for changes in inventory due to the purchase or sale of inventoried items.
Variance transactions: Used to account for differences between quantities recorded in Inventory Control and the results of stock counts.
Transfer transactions: Used to account for moving items from one site to another, or changing items from one type to another
One major difference is there, when you try to extract Inventory reports it actually differentiate between both type of transactions, for example if you usedthe Inventory Adjustment to fill Stock Count variances, you wil not be able to pull Item Accuracy Report from the inventory analysis reports.
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