The Period Variance report delivers a comprehensive overview of stock movements for each stock product throughout the stock period. By comparing the period opening values with the counted values, the report highlights any resulting variances, providing a crucial measure of accuracy in inventory management. This report is immensely valuable, offering a clear and actionable insight into the performance of stock products, aiding in the identification of discrepancies and supporting informed decision-making for effective stock control.
This report is available only to companies subscribed to the Inventory Management module.
For companies with multiple sites, the data in the report is specific to the site that you are logged in to.
Access the Period Variance report via either:
- The main menu via: Report & Analysis > Period results > Site Reports > Period Variance.
- The Period Variance section of the individual stock period itself.
Select the required report parameter options from:
Select which period to report on.
Enter the name (or part of) of a specific product, if applicable.
|Cost Variance Threshold
Enter a value to isolate products which have a cost variance that exceeds this threshold. All products with a cost variance greater than the positive, or less than the negative, of the value entered will be returned.
Select whether to view values based on cost, quantities, or both combined, per product.
Top Cost Variances
Enter a number to view only the top X products with the highest cost variance.
Select which product groups to include. If left blank, all groups will be included.
Split per product group, the Period Variance report provides an overview of stock movements and counts within the period, displaying:
Displays the name of the product.
Unit / Last Cost Value
Displays the size unit that quantities are based on and/or the latest cost within the period. For more information on products costs, Click Here.
Displays the opening quantity/cost for the period. This reflects the closing count/cost of the previous approved period.
Displays the total quantity/cost of purchases via a supplier order or cash purchase.
Displays the total quantity/cost of product preparation records based on recipes at the time.
Displays the total quantity/cost of transfers into site from other sites and/or external.
Displays the total quantity/cost of transfers out from site to other sites and/or external.
Displays the total quantity/cost sold based on product recipes at the time of sale.
Displays the total quantity/cost of approved wastage based on recipes at the time.
Displays the total quantity/cost expected at the end of the period based on the opening values +/- movements.
Displays the total quantity/cost of all counts entered in all count sheets within the period.
Displays the total quantity/cost of the variance between the expected and counted figures.
- Values shown as a hyperlink in the table above can be selected to view detail on what makes up total shown in the report. More information on these links is covered later in this article.
- Opening costs are based on the closing cost of the previous period.
- Movement costs are based on the costs at the time of each movement throughout the period.
- Expected, counted and variance costs are based on the period last cost value shown.
- For more information on costs, Click Here.
Analysing Period Variance Data
The following is available by selecting a value within the Period Variance report:
- Purchasing Review
- Product Preparations Review
- Transfer In Review
- Transfer Out Review
- Sales Review
- Wastage Review
- Count Review
- Variance Review
Selecting a purchasing value will display each supplier order that resulted in the purchasing figure for the selected product. The order ID can be selected to open the supplier order in a new tab.
Note that the value also includes purchases made using a Cash Purchase, however these are not listed when selecting the value.
Product Preparations Review
Selecting a product preparation value will display product preparation records where the selected product was used as part of a Product Preparation, or where the product was made as part of a preparation. The product preparation ID can be selected to open the product preparation in a new tab.
Transfer In Review
Selecting a transfer in value will display transfer records where the product was transferred into the site. The transfer ID can be selected to open the transfer in a new browser tab.
Transfer Out Review
Selecting a transfer out value will display transfer records where the product was transferred out of the site. The transfer ID can be selected to open the transfer in a new browser tab.
Selecting a sales value will display the quantity that was used in the sales of each saleable product that uses the selected product within its recipe .
Selecting a sales value will display each wastage record where the product was wasted directly or as part of a recipe product being waste. The waste ID can be selected to open the wastage in a new browser tab.
Selecting a count value will display the total count entered into each count sheet within the period. The count sheet description can be selected to open the count sheet in a new browser tab
If a count has been entered against a Recipe type product within stock count sheets, the count is proportionally assigned to the component stock item and this allocation is referenced within this section.
Selecting a variance cost value will display a history of cost variances for the selected product.
The Variance History Chart displays the cost variance during the 12 weeks prior to the selected period and, if the selected period is not the latest period, the chart displays the cost variances for any subsequent periods too.
In addition to displaying the products cost variance at the site, if the company uses the Company Periods feature, the chart also displays the average cost variances for the product across all sites within the company to help gauge performance of this product against the company average.