Sundry Inventory Variance Report

This report will list all sundry items that have adjustments made between the specified cut-off time and the current time. The report will list the quantity variance and the cost variance. The report is typically used towards the end of the month and is used for calculating the difference between system inventory and physical count. The report will take the inventory quantity at the point the report is run and subtract all adjustment made during a period of time to produce this variance report. For example, The property date is 8/15 and it closed all shops at 18:00 hours for physical inventory count. After inventory count is done, user did adjustment on inventory to ensure that it matches the inventory count. All inventories are counted and adjusted and user runs the report at 1:15 am on 8/16. Cut-Off Time is specified as 6:00 pm or 18:00; system then calculates any adjustment made between that cut-off time and the current time of 1:15 am. This adjustment is the quantity variance. The beginning inventory is calculated by taking the inventory quantity at the time the report run minus any adjustment made on or after the cut off time. The report will use the property's server offset time while looking for matching records during that period of time. A signature line is included for the incoming desk clerk and the outgoing desk clerk.

The report includes location, item type, item, description, last cost, current quantity on hand, previous quantity on hand, quantity variance, and cost variance.

You can filter the report by sundry location, item type, or item. You can sort the report by location, item type, or item.

These calculations are performed:

• Previous QOH = current quantity on hand - Qty Variance
• Qty Variance = sum of all adjustments for an inventory items that happen between the supplied cut off time and the time the report is run
• Cost Variance = the Qty Variance for that inventory item * the last cost of that item for that location