This article is part of the Review and Approve Inventory Count function of the Inventory Counts feature.


When an inventory count is entered, the system will identify any variances in the count. Users will then need to review the inventory count variances before completing the count. This is an efficient way for users to quickly view count discrepancies without having to run AvT reports.


Users with the inventory count variances feature will have the Variance Review tab on the inventory count sheet, which can be reviewed before marking an inventory count as complete.



TABLE OF CONTENTS


Required Variance Reviews


Users can elect whether or not to make variance reviews a requirement. To require variance reviews, visit the Miscellaneous tab of the System Preferences page and check the box labeled Require Count Variance Review.



When the Require Count Variance Review' option is enabled in System Preferences,  Users must review each variance type before completing an inventory count review. 


Users that attempt to mark an inventory count as Complete without reviewing the variances will be prompted with a notice to review in order to complete.


If there are no variances identified, each notice will automatically be marked as reviewed.




Inventory count variances can be reviewed from the Variance Review tab of the inventory count sidesheet. To view the tab, click Review from the top of the side sheet. 





This will open the count review section directly to the Variance Review tab. 




Variance Review Flags


There are two possible Variance Review notices:

  1. Review Actual
    This notice will always appear when Inventory Count Variances is enabled. Clicking this notice will allow users to review Actual Variances.
     
  2. Review Theoretical
    This notice will only appear if users have set an Inventory Variance threshold on the Item Category form. When the variance of a counted item exceeds this threshold, users will receive the Theoretical Review notice.



Reviewing the count variances on the Variance Review tab requires users to review both the Actual Variances and the Theoretical Variances. The Variance Review tab will have notifications to Review Actual and Review Theoretical- #, with the # being the number of theoretical variances identified. 


Variances that have not been reviewed will be featured in yellow.


Each notice must be clicked 3 times to be marked as reviewed.


Once variances are reviewed, the notices will turn green with a checkmark. 



QTY / $ Toggle


The Variance Review tab features a QTY / $ toggle, which allows users to elect whether to view the table values by quantity or current dollar cost.





When QTY is selected, all the values in the table will be based on item quantities.




When is selected, all the values will reflect dollar amounts based on the current cost.


 


Review Actual / Theoretical 


Review Actual


To Review Actual, click the notification bar. 





Review Theoretical 


To Review Theoretical, click the theoretical notification bar.  




Variance Review Table


In the Variance Review tab table, users will see the following columns: 

 


ColumnQTY Description
ItemThe name of the item.
  • Note: Clicking an Item Name will open its Purchase Item Form directly to the Transactions Tab with Location and Date filters set that reflect the following:
    • Inventory Location
    • Date last counted (start date)
    • Date of the current count (end date)
Current $ CostThe current cost of the item in the current inventory count.
Efficiency %The theoretical cost over the actual cost of an item. This shows how efficiently this item is being used.

Note: This column only appears when reviewing the Theoretical filter. 
Date Last CountedThe last date that the item was reported or logged in inventory.

Note: This column only appears when reviewing the Actual filter. 
Previous QtyThe previously reported quantity of the item based on the previous count.
PurchasesThe quantity of the item that was purchased. 
TransfersThe amount of the item that was transferred to / from the location.
Current QtyThe current quantity of the item. 
ActualThe actual quantity of the item used. 
TheoreticalThe theoretical quantity of the item used
WasteThe quantity of the item that was reported as waste. 
VarianceThe difference between the theoretical amount and actual amount of the item used.
UnExp VarThe unexplained variance. This is the variance minus waste. 
Item Category 1The item category 1 that the item is assigned to.
Item Category 2The item category 2 that the item is assigned to.
Item Category 3The item category 3 that the item is assigned to.



Important Note

When the QTY / $ toggle is set to $, the table values will show total dollar amounts based on the product of the item quantity and the current cost of the item.

 


Completing a Variance Review


Each time the Review Actual / Review Theoretical flags are clicked, the table columns will reorder and the table will re-sort so that users can ensure that all details are reviewed. .


Each flag must be clicked 3 times to be marked as complete.


Review Actual

  • While clicking the review notice will reorder and re-sort the table, there is no specified sort order. Users should review as necessary.


Review Theoretical

  • Clicking a review notice one time will sort the list in ascending order based on the Efficiency column. 
  • Clicking a review notice a second time will sort the list in descending order based on Efficiency column. 
  • Clicking a review notice a third time will have no sort.