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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 a Expense Analysis Dashboard for Higher Education Institutions

What is an Expense Analysis Dashboard for Higher Education?

Expense Dashboard are considered financial analysis tools and are used by CFOs and Accounting Managers to quickly understand uses of funds and variances versus plan and prior year. Some of the main functionality in this type of dashboard is that it provides simple way to analyze operating expenses from six different perspectives: 1) Top five expense sources with comparison of actual, actual last year and budget. Sources listed in the example include: Repairs and maintenance, scholarships, research, books and library, licenses and other, 2) Total annual expenses with actual and budget comparison, 3) Table with ranked listing of all expense categories and comparison of actual figures with actual last year, variance (%), budget and budget variance, 4) Build up of components of actual expenses, 5) Total expenses by school, and 6) Expenses by campus. The user can apply filters using the “Filter Menu” on top of the screen. You find an example of this type of dashboard below.

Purpose of Expense Analysis Dashboards

Universities and colleges use Expense Dashboards to provide executives with different ways to slice and compare operating expenses. When used as part of good business practices in Financial Planning & Analysis (FP&A) departments, an organization can improve its decision speed and surplus/deficit, and it can reduce the chances that leaders miss areas of unplanned overspending.

Example of an Expense Dashboard

Here is an example of an Expense Analysis Dashboard with comparison of different uses of funds as well as budget variances.

Example of a Expense Analysis Dashboard for Higher Education Institutions

Example of a Expense Analysis Dashboard for Higher Education Institutions

You can find hundreds of additional examples here

Who Uses This Type of Dashboard?

The typical users of this type of dashboard are: CFO, accounting managers, budget managers, cost accountants.

Other Reports Often Used in Conjunction with Expense Dashboards

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Expense Dashboards, along with Financial statements, detailed expense reports, annual budgets, 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