Product Tip Tuesday: Creating A Variance Report using Adaptive’s Built-In Reporting

Tips Sign On Keyboard

There are a lot of helpful tips and best practices to share with Adaptive customers as we pick back up our Product Tip Tuesday series. But with our intuitive and self-serving financial reporting features being one of our most popular benefits, we decided to kickoff this year’s series with a quick explanation of how to create variance reports using our built-in reporting feature.

Reports are used to communicate vital facts and figures to stakeholders throughout the organization. Unfortunately, the traditional tools used to create reports lack adequate drill-down capabilities, are subject to formatting challenges, and require painstaking manual measures that leave crucial data vulnerable to error. And when a manager needs a report quickly, spending hours compiling the information is just not scalable.

Check out the eBook, “Making the Shift: Four Secrets Behind Great Budgeting and Planning” 

Adaptive’s web-based report builder allows users to quickly and easily create management and ad-hoc reports. With easy-to-use drag-and-drop and drill-down capabilities , users can easily provide commentary on variance reports and create new reports on the fly. It’s a true self-service style that leads to quick answers to important questions. Here’s how to get those answers.

  1. From the report builder under “predefined dimensions”, expand:

Accounts > GL Accounts > Expenses > Operating Expenses and drag-and-drop to the row axis.

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidation

  1. Expand versions and drag-and-drop both the “actuals” and “budget 2016” versions to the column axis.

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidation

  1. Drag-and-drop a “difference” element next to “budget 2016”.
  2. Right-click the “Difference element” and rename it “Variance”.
  3. Expand Time > FY-2016 > Q1-FY2016, & drag-and-drop “Mar 2016” into the column axis.
  4. Drag “Mar 2016” into the “parameters” area.

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidation

  1. Right-click the “Time” parameter, select “properties”, and rename it “select month”.

Adaptive insights, cloud cpm software, corporate performance management, business budgeting software, budgeting and forecasting, visual analytics, financial reporting software, financial consolidation

  1. Check the “prompt before viewing” box.
  2. Click the green when it appears and run the report for “Mar 2016”.
  3. Save the file as a “shared report”.

*NOTE: The elements under Predefined Dimensions will vary and is specific to your model.

Check out the eBook, “Making the Shift: Four Secrets Behind Great Budgeting and Planning” 

Share this: