Invoice Variance report gives us
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Variances between receipt and Purchase order prices
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Variance between Purchase order and Requisition prices
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Variance between RFQ and Requisition prices
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Variances between the invoice price and PO price for all inventory and WIP related Invoices
The Invoice Variance Report specifically shows variances between invoice prices and the original PO prices for inventory and WIP-related invoices. It helps identify discrepancies in what was ordered versus what was billed.
The Invoice Price Variance (IPV) report compares the price on the supplier's invoice against the price recorded on the purchase order, specifically for inventory and WIP-related invoices, to flag discrepancies for review. It isn't about comparing receipt prices, requisition prices, or RFQ prices — those are different reconciliation points earlier in the procurement cycle.