Templates
Budget variance template
Actual against budget, with the variance logic and commentary rules.
Updated September 20, 2026
Columns
| Column | Type |
|---|---|
| Period | Date |
| Cost centre | Text |
| Account | Text |
| Actual | Number |
| Budget | Number |
| Commentary | Text |
Formulas
Variance = Actual - Budget
Variance % = IFERROR(Variance/Budget, "")
Favourable? = IF(account is revenue, Variance >= 0, Variance <= 0)
Needs comment = ABS(Variance) > thresholdCommentary discipline
- Comment only where the variance exceeds the threshold
- One sentence: cause, size, and whether it recurs
- No comment means no material variance — say that explicitly in the review
Frequently asked questions
What threshold should trigger commentary?
Set it so roughly the top fifth of lines need a comment. Too low and the report becomes noise.
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