The Budget vs. Actual report combines an income statement with a budget income statement for the same set of criteria including both dollar and percentage comparisons between the two. This report enables you to analyze budgeted and actual financials to determine how closely your income and expenses compare to those you originally budgeted.
The standard Budget vs. Actual report includes the following rows, with columns for amount, the budget amount, dollars that the amount is over budget, and the amount as a percentage of the budget.
- Ordinary Income/Expense (header row)
- Income (financial section)
- Cost of Sales (financial section)
- Gross Profit (formula row)
- Expense (financial section)
- Net Ordinary Income (summary row)
- Other Income and Expenses (header row)
- Other Income (financial section)
- Other Expenses (financial section)
- Net Other Income (summary row)
- Net Income (formula row)
The Amount Over Budget and % of Budget columns are formulas based on the first two columns. You can review how these formulas are defined on the Edit Columns page of the Financial Report Builder.
Header and summary rows are linked. Each summary row is calculated either through a sum of child row amounts or through a specified formula. The Net Income row is a formula row that sums Net Ordinary Income with Net Other Income. Standard section data are selected based on account type and are grouped by account. The date you select in the footer is used to filter the column you want to compare.