This is the most important tool to understand and identify the variance.
It will help the business to understand their company's performance by assessing profit and loss and paying attention to budgetary differences.
Therefore, it is a tool used to enhance efficiency in a long-standing manner and sustainably over a period of time.
Very simple to use, the user only needs to change the green cells in the green tabs and the outputs are updated instantly.
So, a quick overview of the model, in the contents sheet you can see the structure of the model, and by clicking on any of the headlines will automatically be redirected to the relevant sheet.
Key inputs in the green tabs
Update the general info the orange tab
Change the variance type by choosing the selection boxes in the “Actual vs Budgetâ€? tab
All cells in green are input cells
You can find the green cells in the green tabs only
You will get the outcome in the dark blue tabs
You can read the instruction in the light blue tab
Key outcome in the dark blue tabs
The inputs in the green cells will dynamically flow into the following below:
-Actual vs budget by month by choosing the month in the selection box on column C, row 3
-Actual vs budget YTD by choosing the month in the selection box on column F, row 3
-Actual vs budget quarterly by choosing the quarter in the selection box on column I, row 3
-Actual vs budget full year by choosing the month in the selection box on column L, row 3
Conclusion and customization
This is a highly versatile, very sophisticated financial model template, and is also user-friendly.