What is a Revenue and Expenses with Remaining Budget Report?

Revenue and Expense reports, sometimes referred to as Statement of Activities are considered monthly financial statements and are used by finance officers and accountants to provide managers with year-to-date (YTD) results and to show them how much is still available of the annual budget. Some of the main functionality in this type of report is that it it shows actual results YTD for revenues and expenses along with the full year budget. It then automatically calculates how much of the revenue and expense budget remains. For each new period the report is run for, it dynamically recalculates the remaining budget. You find an example of this type of report below.

Purpose of Revenue and Expense Reports with Remaining Budget Calculation

Universities and colleges use Revenue and Expense Reports with Remaining Budget Calculation to give department heads and finance managers an easy way to course correct during the year. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a higher education institution can improve its likelihood of meeting annual budgetary obligations, and it can reduce the chances that their managers tries to adjust spending too late in the year to align with budgets.

Revenue and Expense Reports with Remaining Budget Calculation Example

Here is an example of a Revenue & Expense Report with actual results YTD, full year budget and remaining budget information.

Higher Education Reporting - Revenue and Expenses with Remaining Budget

Higher Education Reporting – Revenue and Expenses with Remaining Budget

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: CFOs, budget managers, analysts, department heads.

Other Reports Often Used in Conjunction with Revenue and Expense Reports with Remaining Budget Calculation

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Revenue and Expense Reports, along with  formal financial statements, detailed expense and funding/revenue reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

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