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  1. Financial Planning & Analysis
  2. Process
  3. Variance review
Process · Variance review

Variance review

Budget vs Actual starts with a ranked cost center difference and opens the plan lines behind it. FP&A Planner checks the plan version and dated term before explaining the amount. Finance Leader uses the same source lines to decide whether an unexpected spend needs a later plan revision or a separate operating follow-up.

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Step by step

  1. Compare actual spend FP&A Planner

    Use Budget vs Actual to rank cost center variance and open the lines behind a total.

    • Use Budget vs Actual to rank cost center variance and open the lines behind a total.
    • Updates Plans, Plan lines

  2. Explain difference Finance Leader

    Read line amount, actual amount and variance with the plan period and owner before deciding on follow-up.

    • Read line amount, actual amount and variance with the plan period and owner before deciding on follow-up.
    • Updates Plan lines, Plans

Where it usually breaks

And how to keep it from happening.

  • Keep the plan version and organization fixed while comparing cost centers.
  • Check each line’s planned amount, actual amount and spend category after opening the ranked total.
  • If a line points to another plan, correct that reference before reporting the variance.

Who does what

Roles and permissions
FP&A Planner
, Finance Leader, Reviewer and Admin participate according to the record and access setup.

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