Actual vs Theoretical Summary Report
The Actual vs Theoretical Summary Report is one of the platform's most popular and insightful Reports. This Report allows you to compare your Actual Inventory counts (taken during an Audit) with your Theoretical values based on what Items were purchased, transferred, and sold. Refer to the steps below on how to view the Actual vs Theoretical Summary Report.
Viewing Actual vs Theoretical Summary Report
- Click Reports > Reports List from the navigation.
- Click Actual vs Theoretical Summary under the Inventory heading.
- Filter by Period/Multi-Period.
- Click Go to view the results.
Some things to keep in mind
- Each column in the report can be clicked on in order to reorganize the data.
For example you can click on Sold to see in descending order which Category Items have been the biggest sellers in the given Period or Date Range. - Export the data in this report to Excel by clicking the download button in the upper right.
- A negative quantity variance oftentimes means that transfers, depletions and/or sales of given Items are not being accounted for correctly in the system. Make sure all transfers and depletions, including those related to spills and even theft, are being entered.
- A positive quantity variance oftentimes means that not all vendor invoices have been entered correctly into the system for given Items, thus understating Received.
- If you see exceptionally high variances in quantity or amount between your Actual and Theoretical values, drill down deeper using the Actual vs Theoretical Details Report to isolate which Items may be at the root of these variances.
Column Key
Category: Name of Category
Start: Physically counted inventory at the beginning of Period. 'Start' from one viewed period is 'Actual' for the prior
Received: Total quantity of Category Items received through vendor invoices
Transferred: Total quantity of Category Items transferred in or out
Depleted: Total quantity of Category Items depleted
Sold: Total quantity of Category Items sold via POS system
Actual: Physically counted inventory at end of viewed period. 'Actual' from one viewed period is 'Start' for the next
Theoretical: Start + Received + Transferred - Depleted - Sold
Variance Qty: Quantity discrepancy between Actual and Theoretical
Variance Amt: This is the value of your variance and is calculated as a "true variance", so at a basic level, what you should have paid for all those items vs what you actually paid. So even if you have a Variance Qty of 0, if you overpaid for some items (when compared to your current CU Price), you would still have Variance Amt for the amount that you overpaid.
Variance %: (Variance Quantity / Theoretical) * 100%