Main Menu | Reporting | My Reports | Select Report (Budget group) and Edit
The Budget Variance report (IRR1040s.rpt) provides a comparison between current month, quarter, or yearly data to your budget, as well as a comparison between current and prior year. This comparison provides the user with an analysis of how well one had previously anticipated performance. The variance is typically looking at a change from the budget.
The report uses the current default budget set. The budget set will be displayed on the report in the upper left hand corner under the Processed: date.
The example report shown below is a MTD variance report. Depending on the TimeFrame parameter selected, the report will display a Current MTD, QTD, or YTD column and the yield associated with the account.
The next set of columns are the Budget volume, a Percentage Variance to the Current Month and a Dollar Variance to the current month.
The last set of columns is the same information as the budget columns for the same period last year.
The Budget Variance reports can be configured through their parameter selection to provide different views. The following screen displays the system parameters that can be customized by the bank.
There are two system parameters for these reports which can be changed by the user:
Parameter 1: TimeFrame - Options are MTD, QTD, or YTD. If you change this parameter, you may need to change the header to show the appropriate Time Frame you're using.
Parameter 2: Bal_Type - Select Average(Avg.) or Ending(End.). This parameter pertains to the balance sheet side of the General Ledger. The Income side will always use ending balances. The report will print which balance type you have selected in the upper right hand area, above the column headers.
Calculations
The data for the current period compares actual to budget.
Current $ Var = Current balance minus Budget balance
Current % Var = $ Var divided by Budget balance (times 100 for a %)
The same timeframe Last Year data on the right side of the report is a comparison of actual performance to the same timeframe last year. On this side, the calculation is:
$Var = Current balance minus Last Year balance
%Var = $Var divided by Last Year balance (times 100 for a %)
Balance Sheet Accounts:
| • | Balance columns contain respective month's Average Monthly Balances for the account (AVG) or Ending Monthly Balances (END) |
| • | Data is displayed in dollars. |
Income Statement Accounts:
| • | Balance columns contain respective month's Ending Monthly Balances for the account |
| • | Data is displayed in dollars. |