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10 fast budgets vs. actual variance excel templates

August 23, 2022
9.6K Views

Budgets vs. Actual Variance Excel Templates can help you understand the difference between your budgeted amount and your actual spending. This can be useful in making future budgeting decisions. The templates can be found at WPS Office and are easy to use.

Simply enter your budgeted amounts into the template and then compare them to your actual spending. You can then see where you are over or under budget. This can help you make more informed decisions about your future budgets. Budgets vs. Actual Variance Excel Templates can help you save time and money by making sure that you are on track with your budget.

Part 1: 10 Free Budget vs Actual Excel Template

1. Simple Blue Budget Control Model

The Simple Blue Budget Control Model is an Excel template that can be used to help you track and control your budget. This model is very easy to use, and it will allow you to see at a glance whether you are on track with your budget or not.

2. Annual Budget Statement

This timeline Excel template can be used to track your expenditures over the course of a year. Simply enter your budgeted amounts for each category, and the template will automatically generate a visual timeline to help you track your progress.

3. Diet and Exercise Schedule

The template provides tips on healthy eating and exercise. By using the Diet and Exercise Schedule template, you can develop healthy habits that will last a lifetime.

4. Store October Merchandise Sales Monthly Report

The Store October Merchandise Sales Monthly Report shows Store sales by the department for the month of October. This report is an excellent way to track Store sales and performance.

5. Construction Schedule Gantt Chart

Construction schedule Gantt charts are a popular tool for visualizing the construction schedule. They clearly show the start and end dates of each task, as well as who is responsible for each task.

6. Blue Excel for Cost Accounting

Blue Excel is a cost accounting checklist template that can save you time and money. This valuable tool will help you keep track of your inventory, costs, and revenue.

 7. Template Income Statement

The Template Income Statement includes all the necessary information to create an accurate and professional-looking statement, including revenues, expenses, and profits.

8. Sales Chart with Variable Target Bar

A sales chart with variable target bars can help you keep track of your sales data comfortably and access it from anywhere. With this Sales Chart, you can easily identify and correct Sales variations.

9. Income Statement Vertical Analysis Template

The Income Statement Vertical Analysis Template in Excel will help you to calculate and present each line item on the Income Statement as a percentage of gross revenue.

10. Sales Performance Report

Sales teams often use Sales Performance Report templates to track their performance against goals. This type of template typically includes data on the number of sales, the value of sales, and the average sale price.

Part 2: What to Include in a Budget vs Actual Template

When creating a Budget vs Actual template for revenue and expenditure, consider including the following elements:

  • Total Revenue: Include a section or cell that displays the total revenue amount for the specified period. This provides an overview of the overall revenue generated.

  • Revenue Detail: Allocate a section to list the revenue sources or categories, such as sales, services, or other income streams. This allows for tracking and comparing the budgeted and actual amounts for each revenue category.

  • Revenue Line Item Detail: Within each revenue category, provide separate rows or sections to input the budgeted and actual amounts for specific line items. This breakdown enables a more granular analysis of revenue performance.

  • Total Expenditure: Similar to total revenue, include a section or cell that shows the total expenditure amount for the designated period. This offers a comprehensive view of the overall expenses incurred.

  • Expenditure Detail: Assign a section to outline the expenditure categories, such as salaries, utilities, marketing, or other expense types. This enables tracking and comparison of budgeted and actual amounts for each expenditure category.

  • Expenditure Line Item Detail: Within each expenditure category, create individual rows or sections to input the budgeted and actual amounts for specific line items. This breakdown facilitates a detailed examination of expenditure performance.

By including these components in your Budget vs Actual template, you can effectively monitor and analyze the variations between the planned and actual revenue and expenditure, helping you gain insights into your financial performance.

Part 3: How to Edit The Budget vs. Actual Cost Template in Excel

With WPS Office, you can open, create, and edit Excel files seamlessly. It provides a user-friendly interface and a range of powerful features to enhance your productivity. Download and install WPS Office from WPS website.

Example

To edit the Budget vs. Actual Cost Template in WPS Office, follow these steps:

Step 1: Add or Adjust the Template:

Example

Open the Budget vs. Actual Cost Template in WPS Office. If needed, add or adjust the template layout to fit your specific requirements. You can insert or delete rows and columns as necessary to accommodate your data.

Step 2: Adding the Data:

Adding data

Enter your budgeted and actual cost data into the respective cells of the template. Input the values accurately, ensuring that each cost item is assigned to the correct category or line item.

Step 3: Calculate the Totals:

Utilize formulas to calculate the totals for budgeted costs and actual costs. Use sum formulas to add up the values in each category or line item, providing a clear overview of the total budgeted and actual costs.

Calculate the total

Step 4: Conditional Formatting:

Apply conditional formatting to visually highlight any variances between budgeted and actual costs. This can be done by creating formatting rules that change the cell background color, font color, or font style based on predefined conditions.

Format your data

Step 5: Edit the Budget vs Actual Cost Chart:

Edit the chart

Customize the Budget vs Actual Cost chart within the template. Modify the chart data range to match your edited template and ensure that it accurately represents the budgeted and actual costs. Adjust the chart type, labels, and formatting to meet your preferences and make it visually appealing.

Remember to save your changes regularly as you edit the Budget vs. Actual Cost Template in WPS Office. This allows you to keep a record of your modifications and easily track your budget performance.

FAQs

How Do I Make the X-axis Reflect The Date?

Right-click on a blue or orange line in the paragraph, then choose Data. On the right side of the popup, choose Edit under " Horizontal (Category) Axis Label," and then choose the header row where you display your months.

Why use Excel to track Budget vs Actual Cost?

Excel's flexibility, accessibility, compatibility, and user-friendly interface make it ideal for tracking Budget vs Actual Cost. You can easily customize spreadsheets, access them from anywhere via the Cloud, integrate data from other programs, and collaborate effortlessly.

Summary

In conclusion, the 10 Free Budget vs Actual Excel Templates mentioned earlier provide a range of options for effectively managing and analyzing your financial data. From budget control and annual spending tracking to cost accounting and sales performance evaluation, these templates cater to various budgeting needs.

With the help of WPS Office, a free office software that supports Excel editing, you can easily edit and customize these templates to fit your specific requirements. WPS Office offers a user-friendly interface, seamless integration with other software packages, and the ability to access and update your Excel files in real-time from anywhere via cloud syncing.

15 years of office industry experience, tech lover and copywriter. Follow me for product reviews, comparisons, and recommendations for new apps and software.