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The Dept Variance worksheet is used for identifying the discrepancies between the forecasted and the actual values. The Consolidated Actual and Variance worksheets are use for tracking the differences between the forecasted and the actual values.
The summary worksheets provide a one page overview of the budget's forecasted and actual values. Input Worksheets It is important to note that all worksheets with names ending with "Inputs", for example, "Overhead Expenses Inputs" requires inputs to be entered. The values in other worksheets are automatically generated. It is also important to note that all worksheets with names beginning with "Dept" are departmental level worksheets.
These three fields are used for date calculations in the subsequent worksheets. Expenses Categories This spreadsheet allows you to define up to a maximum of 50 expense categories. The most important expense categories should be defined first as the first 5 expense categories will be shown in details in the consolidated budget.
Other expenses beyond the first 5 will be shown as a total value in the consolidated budget. This will allow for better tracking of the expenses. This number does not affect other worksheets.
The names of the different departments can be defined in this worksheet. The names will be used to identify worksheets belonging to the same department subsequently. Overhead Expenses Inputs Overhead expenses refer to expenses that do not directly relate to the generation of profits in each of the departments but are required for the continual functioning of the business.
This worksheet allows the estimated overhead expenses to be entered in the first section named "Plan". The next section "Actual" allows the actual overhead expenses to be entered and subsequently tracked. The diagram below shows the "Plan" section of the worksheet. Allocate Overhead Expenses The overhead expenses can be allocated to different departments. This worksheet allows you to specify the percentage point that the total overhead expenses to be allocated to the different departments.
Other fields are calculated automatically to assist in the allocation of the expenses. The "Plan" section of the worksheet shows the allocation of the budget expenses while the "Actual" section shows the allocation of the actual expenses.
The diagram above shows the "Plan" section of the worksheet. Departmental Worksheets The departmental worksheets allow the different departments to provide sales forecast and plan for expenses in the next 12 months. The actual sales and expenses can be entered subsequently to be compared to the estimated values. Dept Sales Inputs A business earns profits by selling goods, products or services. This worksheet is used for forecasting sales for the next 12 months.
Simply enter the values for the following fields and it will be incorporated into the budget worksheets. This is the usually cost for manufacturing the product. The worksheet supports a maximum of 20 products per department. This worksheet allows the forecasted Price, Volume and Cost to be entered in the first section "Plan". Want to see how some of our most popular strategies perform together as a portfolio? Will one compliment the other?
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