Analysing Income & Expenditure
The Income & Expenditure Summary (by Fund) report within ExpensePlus shows a number of different totals.
Here is how the year-to-date totals are calculated:
- Actual Income/Expenditure - is the sum of all transactions between the start of the financial year and your selected date.
- Anticipated Income/Expenditure - is based on the budgets per month that you entered for the category. Find out more in this article: How do I enter budgets?
- Variance - is the difference between the 'Actual Income/Expenditure' and the 'Anticipated Income/Expenditure, expressed as a percentage.
Here is how the financial year totals are calculated:
- Total Budget - this displays the budget total which you have set for this category.
- Budget Spend/Received - this displays how much of the total annual budget amount has been spent, expressed as a percentage.
- Projected Total - this is forecast for your end-of-year income/expenditure totals based on your budgeted income/expenditure, your actual year-to-date income/expenditure and your projection settings. Find out more in this article: How are projected totals calculated?
Important: Totals are displayed based on the 'view to' date set at the top of the report. It's therefore important to set this correctly to ensure calculations are based on the correct information. Typically, you will want to set the view to date as the latest date you input / reconciled all transactions up until.
Top tip: The totals displayed in other income & Expenditure reports, such as the Income & Expenditure (by category connector) and the Income & Expenditure (by Project) use the same calculations as described above.
To better understand the Finance Reports module, please view the module overview video here.