Running a Variance Report

In Centage, you can run reports to perform many different types of analysis on the data from your versions, such as checking progress on how your actuals are aligned to the budget version to determine possible adjustments to spending or revenue goals throughout the year.

One pre-defined report option is a Variance report. These reports display the variance, or difference, between two or more versions in your plan for specific time periods. You have the option to select actuals, budget or forecast version types. You will select to view your data for selected time periods including year, quarter or periods. The data can be shown as activity or balance. You can choose to display the variance as the amount and/or percentage. 

Some examples of Variance reporting include:

• Comparison of multiple versions - Actuals compared with Budgetv1, Budgetv2
• Year over Year variance -  Actuals 2023 vs. Budget 2023
• Same version compared across multiple years - Actuals 2022 vs. Actuals 2023
• YTD - current year Actuals YTD compared with a Budget version YTD

This document shows you, a Centage user, how to create and update Variance reports.

Please Note: Traditionally, Variance Reports compare actual numbers to budgetary numbers; however, you now have the option to select any Version that is available in your Centage plan.

 

Create a Variance Report

To create a Variance report, navigate to the Report List, click + New Report, and select Variance.

The Variance Settings window is displayed for you to configure the initial report settings.  Within this window, you will select the versions, time periods, measure, and variance format.

1. Base Version – Select the Base Version and Year of data you want to appear first in this report.  This will be the first column displayed.
   • • Click the first drop-down box to select a Version
     • Click the second drop-down to select a Year
2. Comparison Version(s) – Click Add to select a comparison version.
   • • Select the Version and Year - Click the drop-down in the Version column to select a version and then click the drop-down in the Years column to select the year. 
     • Click Add to include a new row to select additional Version/Year combinations.
     • To remove a Comparison Version row, click the X in the Actions column.
3. Time Intervals – Click the checkbox for the time interval: Year, Quarters, and/or Periods.
   • • When you choose Quarters and/or Periods, a drop-down box is displayed enabling you to select one or more periods, for example you can select Q1 and Q2 for Quarters or P7 for Periods.
4. Measure - Use the drop-down box to select to desired measure.
   • • Balance shows the total amount for the row for all periods of the Fiscal Year up through the end of the time period for the column
     • Activity shows the amount of activity for the row for the selected time period on the column
5. Variance Format - Amount and Percent are toggled on by default. 
   • • Leave these toggled on to see columns for both Amount and Percent.
     • To include only Percent column on your report, toggle OFF the Amount option.
     • To include only Amount column on your report, toggle OFF the Percent option.
   Variance – This section displays the formula(s) used to calculate the variance columns
6. Click Apply to close the Variance Settings window.

• •  

Please Note: You can view the variance between Versions as both an Amount and a Percentage if needed.

The Variance Settings window closes.

Click Run Report () to see report results.

For more information about report options, including filtering, using Hierarchies or Subsets, and exporting to Excel, see Formatting Centage Reports.

 

Example: Report view with these Variance Settings Base Version: Actuals version for the year 2024  Comparison Version: 2024 Budget version for the year 2024 Time Interval: Year Measure: Activity Variance Format: Toggle off Percent In the Report view, the first column is Base Column, followed by Comparison version and then Variance Format.

 

Save a Variance Report

In order to keep this report view in your Report List.  Click Save View As ( ). 

1. Use the drop-down box to select the Scope as Shared or Private.
2. Type a Report Name to the View Name box.
3. Click Save View.

This report will now appear in your Report List as indicated.

You can either continue editing this report view or navigate to other areas of  Centage.

Refresh a Variance Report

If you make changes to either Rows or Filter selections on this report, click Run Report () to refresh the page and implement those changes.

Run a Variance Report

You can run saved report views.

1. Navigate to Report List.
2. Click the Report Name.
3. The Report opens for the options when the view was last saved.

Edit Variance Settings

After you run a report,  edits to Time, Version and Measure dimensions must be completed in the Variance Settings window.  You can NOT edit these on the main Variance report view page.

1. Click Variance Settings () to open the Variance Settings window.
2. Make desired changes and click Apply.
3. Click Run Report (  ) to refresh the page and implement those changes.