InventoryCS > Inventory > Period End Tasks menu > IN Variance Amounts window
 
IN Variance Amounts window
If you use the Standard Cost valuation method for any of your stock items, the GL Variance Account specified in the IN Inventory Codes window keeps track of the variances between standard and actual costs. At the end of the fiscal year, you may want to purge this accumulator, which resets it to zero so you can start accumulating the variance for the new year.
Caution: Be sure to back up your data prior to using this option so you have a record of the transaction details before they are deleted.
To purge the amount in the variance account, see Clearing Variance Amounts.
Published date: 08/16/2021