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.