Posts

Example of an Expense Variance Report for Banks

What is an Expense Variance Report for Banks?

Expense Variance Reports are considered financial control reports and are used by controllers and department managers to monitor actual expenditures compared to the budget. Some of the main functionality in this type of control report is that it dynamically expands expense accounts down the rows and summarize them to sub-totals and a grand total. The three columns show: 1) Actual expenses for the month, 2) Budget, and 3) Variance in percent. You find an example of this type of control report below.

Purpose of Expense Variance Reports

Banks use Expense Variance Reports to give managers an easy way to monitor their department’s expenses and to catch major budget variances. When used as part of good business practices in Accounting departments, a bank can improve its cost control and related decisions, and it can reduce the chances that major budget overruns occur.

Example of an Expense Variance Report

Here is an example of an Expense Variance Report with actual and budget figures.

Example of an Expense Variance Report for Banks

Example of an Expense Variance Report for Banks

You can find hundreds of additional examples here

Who Uses This Type of Control report?

The typical users of this type of control report are: CFOs, Analysts, Controllers, Cost Accountants, Department Managers.

Other Reports Often Used in Conjunction with Expense Variance Reports

Progressive Accounting departments sometimes use several different Expense Variance Reports, along with profit & loss reports, balance sheets, cash flow statements, KPI reports, expense dashboards, budget models, forecasts and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from 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)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Example of an Expense Variance Report for Credit Unions

What is an Expense Variance Report for Credit Unions?

Expense Variance Reports are considered financial control reports and are used by accountants and department managers to monitor actual expenditures compared to the budget. Some of the main functionality in this type of control report is that it dynamically expands expense accounts down the rows and summarize them to sub-totals and a grand total. The three columns show: 1) Actual expenses for the month, 2) Budget, and 3) Variance in percent. You find an example of this type of control report below.

Purpose of Expense Variance Reports

Credit Unions use Expense Variance Reports to give managers an easy way to monitor their department’s expenses and to catch major budget variances. When used as part of good business practices in Accounting Departments, a company can improve its cost control and related decisions, and it can reduce the chances of major budget overruns occurring.

Example of an Expense Variance Report

Here is an example of an Expense Variance Report with actual and budget figures as well as actual to budget comparisons.

Example of an Expense Variance Report for Credit Unions

Example of an Expense Variance Report for Credit Unions

You can find hundreds of additional examples here

Who Uses This Type of Control report?

The typical users of this type of control report are: CFOs, Analysts, Controllers, Cost Accountants, Department Managers.

Other Reports Often Used in Conjunction with Expense Variance Reports

Progressive Accounting departments sometimes use several different Expense Variance Reports, along with profit & loss reports, balance sheets, cash flow statements, KPI reports, expense dashboards, budget models, forecasts and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from 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)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Example of an Expenditure by Fund Budget Report for Public Sector Organizations

What is a Expenditure by Fund Budget Report?

Expenditure by Fund Budget Reports are considered budget approval and analysis tools and are used by Executives and Budget Managers to review approved expense budgets by fund. Some of the main functionality in this type of report is that it shows historical results as well as the iterations of the current budget. Information include: 1) Prior year actual expenses by fund, 2) Prior year approved budget, 3) Prior year revised budget, 4) Requested budget, 5) Recommended budget, 6) Adopted budget, 7) Variances in amounts and percent. The rows groups and sub-totals expenses by account (object code) and fund. The traffic lights help highlight significant amounts. You find an example of this type of report below.

Purpose of Expenditure by Fund Budget Reports

Public Sector organizations use Expenditure by Fund Budget Reports to give leaders a clear picture of how they arrived at the adopted budget. When used as part of good business practices in Planning and Executive departments, a government entity can improve its strategic decisions and expense allocations, and it can reduce the chances that managers lack ownership and oversight into fund budgets.

Example of a Expenditure by Fund Budget Report

Here is an example of an Expenditures by Fund Report with account-level detail by fund as well as detailed budget versions.

Example of an Expenditure by Fund Budget Report for Public Sector Organizations

Example of an Expenditure by Fund Budget Report for Public Sector Organizations

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Executives, strategic planners, budget officers, controllers.

Other Reports Often Used in Conjunction with Expenditure by Fund Budget Reports

Progressive Planning and Executive departments sometimes use several different Expenditure by Fund Budget Reports, along with financial budget dashboards, strategic plans, annual budgets, financial statements, government KPI dashboards and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from 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)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Sales Dashboard for Retail Companies with Volume and Price by Region and Product

What is a Sales Dashboard with Volume and Price by Region and Product?

Sales Dashboards with store and product detail are considered sales analysis tools and are used by regional managers and product managers to analyze the main reasons store/region and item sales are above or below budget. Some of the main functionality in this type of dashboard is that it shows how much of a budget variance comes from price factors versus quantity sold. The dashboard provides four perspectives: 1) A matrix with actual, budget revenue and it shows how much of the variance comes from volume versus price. Note that the user can drill down on the ‘+” sign to store and then to product group and product, 2) Trend chart with volume and price variance per month, 3) KPIs for price variance, volume variance and total variance, and 4) Total variance trend with price and volume in monthly stacked column bars. Using the parameter slider in the top left corner, the user can quickly expand or narrow the from-to date ranges in the analysis. You find an example of this type of dashboard below.

Purpose of Store and Product Sales Variance Dashboards

Retail organizations use Store and Product Sales Variance Dashboards to give managers deep insight into sales variances versus budgets and actual prior year. When used as part of good business practices in Financial Planning & Analysis (FP&A) and product/sales departments, an organization can improve and speed up its regional, store and product strategies and increase revenues, and it can reduce the chances that low performing areas are not getting timely attention.

Store and Product Sales Variance Dashboard Example

Here is an example of a Retail Sales Dashboard with regional, store and product drill-down.

Sales Dashboard for Retail Companies with Volume and Price by Region and Product

Sales Dashboard for Retail Companies with Volume and Price by Region and Product

You can find hundreds of additional examples here

Who Uses This Type of Dashboard?

The typical users of this type of dashboard are: CFOs, analysts, regional managers, store managers, ecommerce managers, price managers, product managers.

Other Reports Often Used in Conjunction with Store and Product Sales Variance Dashboards

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Sales Variance Dashboards, along with financial dashboards, profit & loss reports, sales reports, sales forecast, annual budgets and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from 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)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Higher Education Report Example - Comparison Between Current Year and Next Year Budgets

What is a Budget Comparison Report?

Budget comparison reports are considered budget analysis tools and are used by budget managers to provide executives with a clear picture of variances between the current and next year’s budget. Some of the main functionality in this type of budget report is that it it shows the differences between two annual budgets and displays these both as amounts and in percent. The general ledger (GL) accounts are listed down the rows with funds as the most detailed level. The report can be produced at the detailed department level or consolidated to a school or university level. You find an example of this type of budget report below.

Purpose of Budget Comparison Reports

Universities and colleges use Budget Comparison Reports to make it easy for executives to see where the major changes are in the current budget versus that of the prior year. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a higher education institution can improve its budget accuracy, and it can reduce the chances that the major budget changes are approved without proper scrutiny.

Budget Comparison Report Example

Here is an example of a Budget Variance Report comparing the new budget with prior year’s budget.

Higher Education Report Example - Comparison Between Current Year and Next Year Budgets

Higher Education Report Example – Comparison Between Current Year and Next Year Budgets

You can find hundreds of additional examples here

Who Uses This Type of Budget report?

The typical users of this type of budget report are: Executives, budget officers, department managers.

Other Budget reports Often Used in Conjunction with Budget Comparison Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Budget Variance Reports, along with  budget accuracy reports, budget comment reports, budget dashboards, transaction detail budget 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)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Revenue and Expense Exception Report Example

What is a Revenue and Expense Exception Report?

Exception Reports are considered monthly analysis tools and are often used by Controllers and Analysts to quickly and easily find budget variances. Key functionality in this type of report shows all key GL dimensions in the rows with their monthly balance for actual, budget and variance. This allows the user to see across all companies, departments and accounts in one single report. The sort feature on the columns, and the traffic lights highlights key budget variances. You will find an example of this type of report below.

Purpose of Revenue and Expense Exception Reports

Companies and organizations use Revenue and Expense Exception Reports to allow a user to detect significant positive or negative budget variances. When used as part of good business practices in a Finance & Accounting Department, a company can improve its budget variance analysis, as well as, reduce the risk that major budget variances (by amount or percent) go undetected.

Revenue and Expense Exception Report Example

Here is an example of a Revenue and Expense Exception Report to help find budget variances across all accounts and entities in the organization.

Revenue and Expense Exception Report Example

Revenue and Expense Exception Report Example

You can find hundreds of additional examples here.

Who Uses This Type of Report?

The typical users of this type of report are: Group Controllers and Analysts.

Other Reports Often Used in Conjunction with Revenue and Expense Exception Reports

Progressive Finance & Accounting Departments sometimes use several different Revenue and Expense Exception Reports, along with trial balances, financial statements and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from 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)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Budget Accuracy Report Example

What is a Budget Accuracy Report?

Budget Accuracy reports are considered essential planning tools and are used by budget managers to help their department managers improve the accuracy of their budgets. A key functionality seen in this type of report may provide two years of historical actual-to-budget variances, in addition to, variances in the current year. This gives users a total of three years of data to see how well (or not) they have been able to predict revenues and expenses for their department. You will find an example of this type of report below.

Purpose of Budget Accuracy Reports

Companies and organizations use Budget Accuracy Reports to detect repetitive misses in departmental budgets so that users can improve their planning accuracy in future years. In other words, the greater the precision in planning that a company is able to achieve, the more successful it is likely to be. When used as part of good business practices in a Financial Planning & Analysis (FP&A) Department, a company can improve its hiring plans, capital investments and liquidity, as well as, mitigate the risk that budgets repeatedly miss their targets, which can cause managers to lose faith in the value of the budget process.

Budget Accuracy Report Example

Here is an example of a Budget Accuracy Report with two years of variance history plus the variance for current year.

Budget Accuracy Analysis

You can find hundreds of additional examples here.

Who Uses This Type of Report?

The typical users of this type of report are: Budget Managers and Department Heads.

Other Reports Often Used in Conjunction with Budget Accuracy Reports

Progressive Financial Planning & Analysis (FP&A) Departments sometimes use several different Budget Accuracy Reports, along with exception reports, drill down features and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from 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, Netsuite and others.

In analyses where budgets or forecasts are used, the 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)

Corporate Performance Management (CPM) Technology Solutions and More Examples