Check out Oracle NetSuite upcoming events and conferences here
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Attention: Customers with NetSuite Electronic Bank Payment (EBP) SuiteApp, version 2020.2 QA (ID 315896) must UPDATE (do NOT uninstall) their bundle to the Production version 2022.1 (ID 416781) by December 31, 2022. Note: If users fail to manually update the Electronic Bank Payments SuiteApp within the given time window, this version of the SuiteApp (ID: 315896) will be deprecated and the account will not be updated to Leading version (2022.1) of the Electronic Bank Payments SuiteApp. Please refer to the campaign email sent to impacted customers for more information.
Expand your NetSuite knowledge by joining our Ask A Guru Live sessions. RSVP on this event now.
Update your Profile with your Support type to get your Support Type badge.
NetSuite Release 2023.1 is here! Download the release notes and post your questions in the new Release 2023.1 category.
Join the webinar and "Get the Most Out of NetSuite Inventory Management" on May 2, 2023 at 10 AM PST. Click on this link to register. Do not forget to RSVP on this page as well!
Allocating Purchase Price Variance
How do you allocate purchase price variances at the end of a period to COGS and Inventory?
We are using the standard costing method and generating PPV when the PO price for an item differs from its standard cost. This is an excellent way to identify items with rising costs. At the end of the period, however, for our financials to state income and inventory accurately, we need to prorate the PPV to COGS to accurately reflect the cost of sales and to inventory to accurately reflect the value of the inventory. Currently, the PPV shows as a line item below the gross profit line, and it includes variances generated for all purchases made