Budget vs actual report template
Monthly and year-to-date variance analysis, ready to fill in.
Quick answer
Download a free budget vs actual template in Excel. Enter twelve months of budget and actuals by P&L line; the template calculates monthly and year-to-date variances in pounds and percentages, and flags lines over a threshold you set.
Download the budget vs actual template (.xlsx)
How to read a budget vs actual report
- Favourable variances are higher income or lower costs than budget; adverse are the opposite.
- Look at year to date as well as the month, to avoid chasing timing differences.
- Explain material variances in a sentence each.
The underlying technique is variance analysis.
For several companies
A group budget vs actual needs consolidated actuals first. Xero's own budgets work one organisation at a time (see Xero budgets). Joiin shows budgets alongside consolidated actuals.
Frequently asked questions
How do you calculate budget vs actual variance?
Variance equals actual minus budget. For income, a positive variance is favourable; for costs, a negative variance is favourable. Percentage variance is the variance divided by budget.