Variance analysis

Actuals vs budget, forecast and last year

Compare budgets and forecasts against actuals to track how you're performing. Compare versions using charts and reports.

Version history timeline chart showing different financial forecast versions, including 'Anchor,' 'Revised anchor,' '1+11 Forecast,' '2+10 Forecast,' 'Series A,' and 'Revised Series A.' The chart illustrates the evolution of financial models and forecasts over time, demonstrating version control in financial planning software.

Answering how you're performing should be easy

Tracking performance has historically involved file merging and extensive copy-paste. With embedded version control, Francis enables variance analysis out-the-box.

How it works

Analyze variance between versions

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Budget variance analysis

Continuously compare your anchor budget and forecast against actuals as you close months throughout the year.

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Compare with last year

Frame everything in comparison to last year. Compare performance to the same period last year.

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Variance view

Compare actuals against budget directly in your financial model as a basis for reforecasting.

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Inspect transactions

Drill down into journal entries and spot bookkeeping errors as you perform variance analysis.

"Monthly follow-ups are now much easier. Instead of digging through our ERP for variance checks, everything is centralized, making the process faster and improving accountability."

Simon Nordlie, Chief Financial Officer at Coffee Collective

Hospitality & Retail
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Budget vs actuals

Compare your latest actuals to the approved, locked budget as you progress through the year. Update your rolling forecast based on the actuals and include it in your variance analysis.

Financial dashboard displaying budget variance charts for revenue and direct costs. The line charts compare budget, actuals, and forecast values over time, with data visualized for the year 2024.
Icon showing a calendar with an arrow pointing into it, symbolizing scheduling, date entry, or importing events

Compare with last year

Compare this year’s performance against last year’s to maintain a historical perspective. Include last year’s data in charts and reports alongside this year’s results.

Dashboard displaying a monthly management report including profit and loss and balance sheet, alongside a budget variance analysis comparing budget, actuals, index, and last year's performance.
Icon featuring a plus sign above a horizontal line, symbolizing balance, adjustment, or margin of error.

Variance view

Variance analysis is also embedded into your model. Compare actuals to the budget directly in your sheet with a click, giving you instant variance results without switching between sheets.

Financial modeling dashboard for Francis Inc., showing Q3 forecast with consolidated P&L data. Metrics like revenue, direct costs, EBITDA, and net profit are displayed for various locations including Central Park, Brooklyn, and West Village.
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Inspect transactions

Answer budget variance questions directly in your model. With native integrations, all transactions are readily available to complete controlling tasks in a modern UI.

Financial dashboard showing transaction amounts for three accounting platforms: QuickBooks ($229.30), Business Central ($13,820), and Visma e-conomic ($830.70). The highlighted total for 27 June is $14,880, with other amounts like $10,260 and $17,395 also visible.

FAQ

Feel free to contact us if you have other questions.

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Can I customize what periods to compare for?

We offer three standard periods: last month, year to date, and full year. You can also compare on a month-by-month basis. If you want to compare between custom periods, you can always download your financial model to Excel.

Can I customize what versions to compare?

Yes, you specify what versions to compare. For example, you can compare "Anchor budget (revised)" with "May forecast".

Can I share my variance analysis?

You can share your variance analysis via our report features, such as Excel or PDF reports.

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