Budget vs Actual - Variance

Power BI
1

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?

e.g.

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

Please HELP

Thank you

2

easiest way to get quick help would be to attach your pbix file.

3

Will create one and post

4

Variance is Budget - Actual rather it should be Actuals- budget. This is typical for expenses

1 Like
5

Thanks for posting your question @hadeeh. To receive a resolution in a timely manner please make sure that you provide all the necessary details on this thread.

Here is a potential list of additional information to include in this thread; demo pbix file, images of the entire scenario you are dealing with, screenshot of the data model, details of how you want to visualize a result, and any other supporting links and details.

Including all of the above will likely enable a quick solution to your question.

6

Hi @hadeeh, we’ve noticed that no response has been received from you since the 16th of May. We just want to check if you still need further help with this post? In case there won’t be any activity on it in the next few days, we’ll be tagging this post as Solved. If you have a follow question or concern related to this topic, please remove the Solution tag first by clicking the three dots beside Reply and then untick the checkbox. Thanks!

7

Sure. I will in future. I was in a crunch and had many deadlines to meet. Hence I was unable to come back here and post the needed information. Please accept my apology. Thank you

8

To confirm I understood it correctly, Variance = Actuals - Budget

Am I correct in reading your reply? Thank you for your time. I am sorry for the late reply.

9

yes. This applies for expenses.

1 Like
10

Thank you!