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IPV&PPV [message #265994]

Sat, 08 September 2007 11:42

tsm.apps
Messages: 22
Registered: August 2007
Location: Bangalore

Junior Member

Hi
This is mahesh

could you tell something about invoice price varience(IPV) and purchase price varience(IPV) and find out the Atachment.

1.Here i have given 2 cases in this which is IPV and which is PPV and how u identified. could u give the details.

Thanks
Mahesh

Attachment: Case1&2.doc
(Size: 20.50KB, Downloaded 1568 times)

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Re: IPV&PPV [message #265998 is a reply to message #265994]

Sat, 08 September 2007 14:30

jayaharan76
Messages: 62
Registered: June 2006
Location: BANGALORE

Member

Hello

Here is the difference between PPV and IPV,

Purchase Price Variance Account
==================================
The account records the difference between the purchase order cost and an item's standard cost at the time you
receive an item in inventory .Purchasing calculates the PPV as:

PPV = (PO unit price – standard unit cost) quantity received

Purchase price variance is not used for average costing. Use the Organization
Parameters window to set this account.

Navigation: Setup > Organizations > Query the Inventory Org >
Organization classifications > Other > Inventory information >
Alternate region > other accounts

Invoice Price Variance Account
=================================
This account records difference between the purchase order price for an
inventory item and the actual invoice price multiplied by the quantity invoiced:
Invoice Quantity x (Invoice Price – PO Price) x Invoice Exchange Rate.

Purchasing uses this account on the PO distribution when the requisition or
purchase order is created. When Payables creates accounting entries for the
invoice, it uses the invoice price variance account from the purchase order
to record invoice price variance entries.

Navigation: Setup > Organizations > Query the Inventory Org >
Organization classifications > Other > Inventory information > Alternate region
> Other accounts

Thanks
Jayaharan Krishnamurthy
jayaharan76@yahoo.com

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Re: IPV&PPV [message #266014 is a reply to message #265998]

Sat, 08 September 2007 23:45

tsm.apps
Messages: 22
Registered: August 2007
Location: Bangalore

Junior Member

Hi Jayaharan Krishnamurthy,

This is mahesh, thanks a lot for ur solution.

Thanks
mahesh

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