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Purchase Price Variance

edited Apr 27, 2022 4:57PM in Ask A Guru 9 comments

Does NetSuite post the variance automatically or do we need to write journal entry each time there is one?

Steps:

  1. We create a PO for inventory that has Standard Costing method.
  2. We recieve the inventory at a higher price than on PO
  3. On the Item receipt, we see that it has debited inventory stock and credited Inventory Received Not Billed. But we do not see the PPV account being debited.

Thanks,

Preethi

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