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- Revenue Recognition
- Process
- Plan approval and variance
Plan approval and variance
FP&A Analyst prepares a budget or forecast for one organization and period. Each plan line records a cost center and spend category with the numbers needed to calculate planned amount and compare actual amount. Budget vs Actual ranks cost center variances and opens the contributing lines. A reviewer should confirm the plan version before discussing an apparent movement.
Step by step
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Create plan FP&A Analyst
Set plan type, period, version and owner.
- Set plan type, period, version and owner
- Updates Plans, Organizations
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Enter plan lines FP&A Analyst
Record cost center, spend category, quantity and rate.
- Record cost center, spend category, quantity and rate
- Updates Plan lines
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Compare actuals FP&A Analyst
Inspect plan and actual amounts.
- Inspect plan and actual amounts
- Updates Plans, Plan lines
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Review variance Finance Approver
Investigate line-level variance and evidence.
- Investigate line-level variance and evidence
- Updates Plan lines, Evidence documents
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Submit plan FP&A Analyst
Move Draft to in review.
- Move Draft to in review
- Updates Plans
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Approve plan Finance Approver
Approve in review and retain decision and receipt.
- Approve in review and retain decision and receipt
- Updates Plans, Review decisions, Operation receipts
ApprovalA person approves before the work moves on.
Who does what
Roles and permissions- Admin
- Maintains reference records; Revenue Accountant owns schedules; Billing Operations Manager owns billing; Collections Specialist follows receipts; FP&A Analyst prepares plans; Finance Approver records human decisions.
Set up Revenue Recognition your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.