Variance report - in a revised view
As you progress through the financial year it's a good idea to track your actuals to the plan (budget) to see whether you're on target, or if you need to update it for the remainder of the year.
The best way to check if you're on track is to use the revision view in the Cashflow screen.
This combines your actuals up to a point plus your plan for the remainder of the year, giving you the best position to see where you're headed.
How can I see if I'm on track to my plan?
Make sure the revision view is sitting on Line One in the cashflow screen.
Click on Reports - Variance.
- Select the plan that you want to compare. The view below compares the revised view, actuals + budget-Main, with the same budget on Line Two.
This helps to identify differences between what was planned versus what has actually happened so that you can update the remainder of the plan.
- If you're in a revised view, the Month End will mirror the revision date set on Line One in the cashflow screen.
In this instance, the report displays actuals vs budget for June to January.
- To get a better idea of how you're tracking for the whole year, use Revised (actuals + budget) in the first column vs budget in the second column.
Change the Month End to the last month of the year, or Period End.
In the example below, the first column, Revised 2017, displays actuals up to 28 Feb 2017 and budget for the remainder of the year.
The second column, Budget 2017, displays the Original 2017 budget for the full year.
TIP: To view extended codes, tick 'Show extended codes' under Report Options, and click 'Update Report'.
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