Technical Blog Post
BiLog: Maximo 76..Variances, Reports, Demos and More!
I couldn't stop. They were warm, fluffy, delectable and perfect with a steaming hot cup of black coffee.
But you can stop...comparing Purchase Order to Invoice Cost Variances manually. Starting with the Maximo 188.8.131.52 release, , a new Invoice Cost Variance report for LIFO/FIFO items is available!
.This new report details the cost variances for LIFO/FIFO Items, which occur when there is a difference in the cost between the received PO Line cost and the Invoiced Line cost. This can be used when reconciling cost differences. Only approved invoices are included in this report, and only for those items with LIFO/FIFO cost types. Additionally, items which do not contain a variance, do not display on this report.
To learn more about this report and how it can be utilized in your environment, access this YouTube video. The demo highlights how variance are determined using an Excel spreadsheet, and then transposes that information to Maximo's Invoice application and the new Invoice Cost Variance report.
The Maximo 76 Report Booklet has been updated with details on this new report, and it can be downloaded here. In addition to the report details, be sure to check out the 'Maximo 76 Updates' worksheet, which details new and retired reports for the Maximo 76 releases and fixpacks.
Also, be sure to subscribe to the IoT YouTube Channel. By subscribing you'll get automated notification when new videos like the Invoice Cost Variance are added. Another recent addition to the Maximo BI Playlist is a recording of the Maximo 76 BI Options. This video introduces the reporting options, and provides a comparison of reporting features you may want to consider when selecting a reporting tool or tools for your Maximo environment.
Enjoy...and maybe next time I'll share the beignets.