Model builders can set up reports to compare the variance between versions in a model.
For example, you can view actual and budget data for a model’s Current Period.
Note: If you change the Current Period in your model, variance reports update automatically. Configure the Current Period in Time in the model settings bar.
You can create Variance and Variance % versions in Versions in the model settings bar. Add formulas in the Formula column to compare figures for a time period. Learn more in Create versions.
In this example, the formulas calculate the variance between Actual and Budget versions.
| Current | Actual | Switchover | Formula | |
| Actual | ||||
| Budget | Jan 20 | |||
| Variance | Actual - Budget | |||
| Variance % | IF Budget > 0 THEN 100 * (Actual – Budget) / Budget ELSE 100 * (Budget – Actual) / Budget |
In this module example, the formulas calculate the variance between actual and budget data for the Revenue and Cost of Goods line items.
| Actual | Budget | Variance | Variance % | |
| Revenue | 25,452,858 | 25,483,000 | -30,142 | -0.1183 |
| Cost of Goods | -13,980,684 | -14,600,000 | 619,316 | 4.242 |
| Formula | Actual - Budget | IF Budget > 0 THEN 100 * (Actual – Budget) / Budget ELSE 100 * (Budget – Actual) / Budget |
Learn more in Add version formulas to a model.
