What are IVARCT transactions in Great Plains?

Answer 1

This is a new feature in version 9.0 where in cost in inventory would be automatically adjusted if there are cost variances. In previous versions, reports will be shown but the user needs to do the adjustments manually in GL.

Here is an exampled on how an IVARCT will be created:

i. Create a PO for $100.

ii. Post a Shipment for $100.

iii. Post an Inventory Decrease Adjustment for $100.

iv. Post a POP Invoice for $105.

v. There will be a GLTRX IVARCT in General Ledger for the $5 difference.

Let's suppose the number is IVARCT00082695. Here are steps on how you will be able to know where the cost variance came from:

1. Go to Inquiry | Purchasing | Purchase Order Documents. Change the Document drop down to Receipt Number.

2. Plug in the receipt number RCT00082695.

3. Mark the check boxes and then hit redisplay.

4. Compare the shipment to the invoices. The item that was invoiced more than the amount it was received caused the variance.

For more information on variances, here are documents you can use as reference:

a. Enhancements made to the calculation of average cost in Microsoft Dynamics GP:

https://mbs.microsoft.com/knowledgebase/KBDisplay.aspx?scid=kb;en-us;923960

b. "Cost Variance for Inventory," "Sales Order Processing," and "Purchase Order Processing":

https://mbs.microsoft.com/knowledgebase/KBDisplay.aspx?scid=kb;en-us;869470