A Cost Variance Statement details the difference between the Cost billed from the CE and the actual cost Invoiced by the Supplier. The Cost Variance Statement report is generated when either margin is declared, revenue recognised or provision costs adjusted and once the Job is closed. This will show you if you have made a super profit or super loss on the Job. If you are integrating with Microsoft Dynamics NAV when the Cost Variance Statement is created it will be exported to Nav.
Below is an explanation of the Cost Variance Statement columns.
Report columns explained:
|1||Details pulling from the Job Bag|
|2||Work Type||Work Types pulling from financial documents.|
|3||Work Type Group|
|4||Is External||Indicates if the Work Type on the CVS is external.|
|5||Business Unit||Displays the division (as per the Business Unit on the Work Type setup) on which the work type will be reported. If one is not set this field will be left empty|
|6||Billed Amount||Total Invoice amount excluding tax.|
|7||Est.Cost (Billed from CE)||External cost on Tax Invoice (expected costs).|
|8||Invoiced Cost||Total Supplier Invoice amount excluding tax.|
|9||Margin||Estimated billings minus Actual Cost = Margin.|
Est-Cost (Billed from CE) minus Invoiced Cost = Cost Variance.
The difference between Est. Cost (Billed from CE) and Invoiced Cost.
|11||Gross-Up||The difference between Est. Cost (Billed from CE) and Invoiced Cost. This field indicates whether the agency made a super profit or super loss.|