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jrochebk-outlook
February 5, 2025
Question

Budget Vs Actual report

  • February 5, 2025
  • 1 reply
  • 0 views

Hi , 

I have run a budget and actual report and it is showing in the variance column (or QBO calls it over budget or remaining) as follows, when income is more than budgeted income the variance is a positve, which is correct, but then when I go down to costs if more costs are spent than budgeted it is still showing as a positive where it should be red negative. 

I know you are going to say it is showing how much it is over budget, but this is not how a Budget and Actual report is done!  The variance column shows that negative figures (red) is a unfavourable variance and positive is a favourable variance.  

1 reply

C
CharleneMaeF
February 5, 2025

Hi there, jrochebk. I understand the importance of generating the correct data in the Budget vs. Actuals report.

 

Currently, QuickBooks Online (QBO) only shows the Actual, Budget, Over Budget, and % of Budget columns when running the report.

 

As a workaround, I recommend customising the columns and turning on the £ Remaining and % Remaining boxes. Also, don't forget to check the Show in red box. Doing so will allow you to view any remaining amounts as negative, making it easier to see the overages in the report.

 

Here's how:

 

  1. Open the Budgets vs. Actuals report.
  2. Click Customise.
  3. Under the Budget field, choose the correct data you want to view.
  4. Add the correct Report period.
  5. Under negative numbers, place a checkmark beside the Show in red box.
  6. Under Period Comparison, enable the £ Remaining and % Remaining.
  7. Customise the other filters.
  8. Once done, click on Run report.

 

For visual reference on how the report looks like, I've added a screenshot below:

 

We recognize that each company has unique needs, and I can see how the feature to view the negative amount for overbudget costs easily would benefit and empower your business. I recommend sending this request straight to our product engineers through feedback. It helps us improve the features of the program. I'll show you how:

 

  1. Go to the Gear icon and select Feedback.
  2. Type in your suggestions about restoring the notes.
  3. Then, submit your request.

 

Alternatively, you can share this idea on our QuickBooks Idea Exchange Board page. To do so, click this link: https://quickbooks.intuit.com/learn-support/quickbooks-idea-exchange/idb-p/uk-idea-exchange. Then, select the Suggest an idea button. After entering your suggestion, choose Post.

 

Additionally, you can filter your reports to focus on the details that matter to you the most. Doing so will let you show specific accounts or format the layout to get the data you need. To learn more about this process, please see this article: Customise reports in QuickBooks Online.

 

Please keep us updated if you need further assistance managing and running your reports in QBO. Just add a reply below. Keep safe!

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