Resolve Error Message: "Bill variance account is missing." even if Variance Accounts have already been set in the Item Records

Answer:

There are certain instances wherein the system is unable to identify that accounts have already been designated in the Bill Variance Account fields of item records. This scenario usually occurs on Matrix Sub-items that are included in transactions where a vendor bill variance is posted since the account settings of the latter items are not made directly from its records but are merely derived from its Parent Matrix Item.

Here are the steps that you need to do for the system to recognize the accounts designated under the Bill Variance Account fields:

I. Regular Inventory Item

-Edit the Item record and remove the accounts associated to leave the fields blank and hit Save button

a. Bill Quantity Variance Account

b. Bill Price Variance Account

c. Bill Exchange Rate Variance Account

-After saving, edit again the item and this time; populate the intended accounts in the fields indicated above.

II. Matrix Sub-items

-View the item and navigate to the item's parent matrix by clicking the link next to the Subitem of field

-Edit the parent matrix item and remove the account associated in the fields indicated below:

a. Bill Quantity Variance Account

b. Bill Price Variance Account

c. Bill Exchange Rate Variance Account

-After removing the accounts, update all matrix sub-items by clicking the Update Matrix button.

-Hit Submit button to update all item records

-Click OK so you will be routed back to the parent matrix item

-Edit again the parent matrix item and this time; populate the intended accounts in the fields indicated above

-Update all matrix sub-items by clicking the Update Matrix button.

-Hit Submit button to update all item records

Go back to the Post Vendor Bill Variance page and try to reprocess the transactions.