Comparing the Actual and Forecast Variances
The Act vs Fcst Var and Comment form shows the Actual and Fcst values for a Period in the selected Year, so you can compare them. The variances (differences) between Actuals and Forecast are shown as both a value and percentage. You can also add commentary at the Departmental level in this form.
Substitution variables set up the Years, Current and Previous Periods, and Version members.
The form fills in values based on these calculations:
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The Act vs Fcst $ column shows the variance between the Actual and Forecast values for the current period.
Act vs Fcst $ = Actual – Forecast
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The Act vs Fcst % column shows the variance between the Actual and Forecast values for the current period as a percentage.
Act vs Fcst % = ((Actual – Forecast) ÷ Forecast) × 100
To review Actual and Forecast variances:
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From the Home page, click the Reporting and Analytics card.
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To open Forecast Variance Reports, click the 1 tab on the left.
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Click Act vs Fcst Var and Comment.
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In the Point of View, choose a Version, Year, Period, Subsidiary, Currency, and Department.
The Actuals for the current month appear in the Actual column. The Forecast values for the selected Version appear in the Forecast column, for comparison.
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If needed, enter comments in the open (white) cells in the last column.
Note:You can't enter commentary at Total Department level.
Tip:To see all the text in a row, click the cell to open the text box, then drag the box's handle to resize it.
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(Optional) To see a detailed analysis of a specific Account member, right-click the Account and select Drill to Income Statement Details.
The Income Statement - Account Details form opens in a new tab. The form shows current year Actual and Forecast data at a detailed level by Relationship, Department, Class, Item, and Location.
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To go back to the initial form, click Act vs Fcst Var and Comment at the bottom of the page.
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Click Save.
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To update the data area with the latest updates, click Refresh.