Hello, I need some urgent help. Need to turn some budget stuff in a few hours. Let me start by saying I am not a Finance person, work in IT. Please bear with me.
I created the budget sheets and have Budget / Actual /Variance
The variance = budget - actuals
There are quite a few items that have gone over the budget. These are showing up a (######) in the the tables. Now these are added to the forecast and instead of showing the increase, it is decreasing! I am stuck. I have no idea what I should do! Did I do wrong by calculating the variance this way; budget - actuals?
Budget = 349,578.79
Actuals = 536,239.46
Variance = (141,660.67)
Forecast amount before adding this = 2,006,523.39
Forecast amount after adding this = 1,864,862.72