Navigate to Transfer Invoice Variance:You can transfer variances between purchase order price and invoice price back to inventory, from your user-defined adjustment account, usually an Invoice Price Variance (IPV) account. This lets you value your inventory at costs as close to actual as possible.
Note: The application prevents IPV transfers to Inventory Valuation for the Landed Cost Management (LCM) enabled parent PO receipts.
The transfer process picks up only invoices that have been posted to GL to ensure that the invoices are approved for payment, and that variances can be added back to inventory.
Note: Support for Project Manufacturing: If the IPV transfer is for material belonging to a specific project, only that project's inventory will be revalued and its item costs reaveraged.
For any open period, you can specify the date of the IPV transfer. You can override the default date for each transaction on the Transaction Open Interface form before submitting them for update.
You can only run the transfer process for one organization at a time.
You can only specify one adjustment account when running this transfer process. You can make changes to the material account for each adjustment transaction on the Transaction Open Interface form.
Note: The Invoice Variance Transfer is listed as an average cost update in the Item Cost History or View Material Transaction inquiry. It does not transfer the Exchange Rate Variance (ERV).
Navigate to Transfer Invoice Variance:Select Transfer Invoice Variance to Inventory Valuation.
Select following parameters:
Transfer Description (Optional)
Item Range
Specific Item
Category Set
Specific Category
Invoice Option
Specific Project
Adjustment Account
Invoice Cutoff Date
Automatic Update
If you choose Yes, then the process automatically updates the inventory.
If you choose No, then the process creates cost update open interface transactions and submits them to the Inventory Interface Manager. You can then run the Invoice Transfer to Inventory Report, review it, and submit transactions using the Inventory Transaction Open Interface manager. See: Viewing and Updating Transaction Open Interface Activity, Oracle Inventory User's Guide.
Choose OK.
Choose Submit.
Other Sources
Invoice Transfer to Inventory Report, Oracle Cost Management User's Guide
Oracle Manufacturing, Distribution, Sales and Service Open Interfaces Manual