If Approved Amount has been established, Variance Amount and Variance Percentage are computed by comparing Approved Amount to Voucher Amount. Otherwise, variances are computed by comparing Charged Amount to Voucher Amount.
Variance amount is calculated by the formula (Actual or Approved Amount - Voucher Amount).
Variance percentage is calculated by the formula (Actual or Approved Amount - Voucher Amount) / (Voucher Amount) * 100.
If the Actual or Approved Amount is greater than the Voucher Amount, then the positive tolerances for the variance amount and percentage will be used; otherwise the negative tolerances will be used.