Stock Variance Report Template
Compare system inventory with physical stock and automatically calculate shortages, excess quantities, variance percentages and inventory variance values.
Turn your physical stock count into a variance report
Enter the system quantity, physical quantity and unit cost. The workbook automatically calculates the main inventory variance metrics for each item.
Variance Quantity
Automatically calculates the difference between physical quantity and system quantity.
Variance Percentage
Shows the size of the stock difference relative to the system inventory quantity.
Variance Value
Uses unit cost to calculate the estimated financial value of each inventory difference.
Automatic Status
Each item is automatically classified as MATCHED, SHORTAGE or EXCESS.
Stock variance formulas
The Excel workbook performs the main calculations automatically.
Variance Qty
Physical Qty − System Qty
Variance %
Variance Qty ÷ System Qty × 100
Variance Value
Variance Qty × Unit Cost
More than a basic variance spreadsheet
The workbook combines stock comparison, variance analysis and discrepancy investigation in one reusable file.
40 Inventory Lines
Record SKU, description, category, location, UOM, system quantity, physical quantity and unit cost.
Variance Summary
See total items, matched items, shortages, excess stock, shortage value, excess value and net variance value.
Investigation Section
Document root causes, corrective actions, responsible owners, due dates and approval notes.
Visual Status
MATCHED, SHORTAGE and EXCESS statuses are automatically identified to make discrepancies easier to review.
Approval Record
Includes prepared by, reviewed by and approved by sections for inventory-control documentation.
Instructions & Example
Includes a How to Use sheet and sample variance data to help you understand the workbook.
From physical count to corrective action
Use the variance report after completing your physical inventory count.
Complete the physical inventory count.
Enter system and physical quantities.
Review material shortages and excess stock.
Document and approve required adjustments.
Investigate before adjusting inventory
A stock variance does not automatically mean that the inventory system should immediately be adjusted.
Material discrepancies should normally be recounted and relevant inventory transactions reviewed before any approved stock correction is made.
Possible causes can include receiving errors, picking errors, incorrect units of measure, unrecorded movements, damaged stock, wrong storage locations and counting errors.
Excel template or online generator?
DIXANI provides both options depending on how you want to complete your variance analysis.
Download Excel Template
Best when you want to save the report, investigate discrepancies, document corrective actions and maintain an inventory-control record.
Download Excel →Online Variance Generator
Best for quickly entering or importing inventory data, calculating variances and generating a report directly in your browser.
Open Free Tool →Stock Variance Report — Frequently Asked Questions
What is a stock variance report?
A stock variance report compares the quantity recorded in an inventory system with the quantity physically counted and identifies any differences.
How is stock variance calculated?
This template calculates variance quantity as physical quantity minus system quantity. A negative result represents a shortage and a positive result represents excess stock.
How is inventory variance value calculated?
Variance value is calculated by multiplying the variance quantity by the item's unit cost.
What does MATCHED mean?
MATCHED means the physical quantity is equal to the system quantity and no quantity variance was identified.
Should I adjust inventory immediately after finding a variance?
Not necessarily. Important discrepancies should normally be recounted and investigated before an adjustment is approved according to your organization's inventory-control procedure.
Continue your inventory workflow
Stock Count Sheet
Record physical inventory before completing your stock variance analysis.
Inventory Adjustment Form
Document approved inventory corrections after the discrepancy investigation is complete.
Variance Report Generator
Calculate inventory variances directly in your browser without downloading a spreadsheet.