The RAVE Financial Management System's new 'Buy Variance Report' allows you to compare your quotes vs. bills by Category and Sub-category level for a more granular back-costing view. You'll find the 'Buy Variance Report' via your project's Budget sub-tab under the Project Reporting dropdown.
The report will display Total Category information by default. You can either click on the Expand All button or the dropdown to the left of a Category header to display the sub-category totals.
Rave's handy colour coding of the Variance column displays:
- Green - you have more Bills to receive in
- Black - your estimated Quote vs Bill amounts match
- Red - your Bills have exceeded your estimated Quote amounts
A Totals (summary) line appears at the bottom of the report.
Buy Variance Item Notes:
When the category or Subcategory is expanded, there are 3 dots on the right-hand side to allow you to add a note explaining your unders and overs. This allows management to be informed of the line item variances easily.
To add a note, simply click on the 3 dots to the right of each line and then click 'Add a Note'. Once your notes have been added, you can update them via the edit pencil or delete them via the red trash can.
The Buy Variance Report can be exported to Excel or to PDF with or without the notes showing. To export to either, click on the little arrow to the right of the Export to Excel or Export to PDF button and choose With Notes or Without Notes
NOTE: The Buy Variance report export to EXCEL will show colour coding as well as calculations with formulas.