Build a Dynamic Budget vs Actuals Dashboard on Excel (Variance Analysis)
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- เผยแพร่เมื่อ 9 ก.ค. 2024
- Create a budget vs actuals dashboard on Excel for variance analysis.
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In this video you'll learn how to build a dynamic budget vs actuals Excel dashboard from scratch. This type of model is also known as a variance analysis, where you can determine how much of a difference there is between your budget and your actual amounts. While we focus on a personal finance budget, this is also applicable to a company's internal budget.
To make this dynamic, we use data validation to select the month. Then, we use INDEX MATCH to find the budget for a specific month and line item, and SUMIFS to find the actuals for a specific month and line item.
In case you want to add more items to your actuals, you can do so using the actuals tab. Using the SUMIFS function, any new inputs should automatically be updated on the dashboard.
Lastly, to make the dashboard visually pleasing, we create conditional formatting for the variances using IF conditions, and column & pie charts for the visually comparing the difference.
To follow along, you can download the excel file for this video which contains the budget information, the actuals information, and the dashboard.
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Chapters:
0:00 - Building a dynamic model
7:54 - Variance Analysis
10:25 - Conditional Formatting
13:26 - Charts & Visuals
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HI Kenji, Thanks for sharing this awesome video (VA - Actual v Budget). How could I access your course with more Finance & Accounting Reports Models? Thanks
Great vids - love your content. I really like how you build them all from scratch so we can see the shortcuts that all the pros use as well.
Glad you like them!
Thank you so much for starting this, Kenji. You have no clue how much you are helping me with Excel everyday. Thank you thank you thank you! ❤️
Simply, straightforward, concise, and precise. Thank you, Kenji!
Thank you for watching! Don't wanna waste people's time :)
Love your contents bro👌 really love how straight forward, clean and how comprehensive they are. I'm a fan of your work, keep it up✊
Really appreciate the comment Paul! thanks for taking the time :)
Love to see your content its really means a lot
Thanks Kenji
You are awesome, you are master at what you do, and I can catch up the idea from first time.
Big thanks
This is one of the best Video I have seen. You did a great job in that file.
Thanks for putting this together. This is very helpful.
Great lesson. Thank you, Kenji.
Love your content. Very applicative as I work in finance & accounting dept. You got nu subs bro!
Thanks mate Kenji, it did help me building my company budget vs actuals. Appreciate it!!
Awesome video, I really enjoyed it having terrible flu rn I was able to get all information, informative and very easy to follow step by step
Realky helpful Kenji .. i learnt a few new things like shortcuts and index fornula as well as use of text formula a bit better
Great video, thanks for your perspective and intellect.
This is great. My Budget spreadsheet is very similar using a "actual" sheet and the variance dashboard but I start a new one every month, I've never figured out how to stretch it out for a year. Will be incorporating these UPGRADES for sure.
Also, love your presentation style - boom-boom-boom. No fluff. Get-er-done!
Thanks for the awesome comment! Yeah don't wanna waste your time :)
@@KenjiExplains Hey - Curious on your thoughts on this. In my current budget sheet, since I start a new once every month, it's easy to use the expense sheet to also work as a checkbook registry to know current balance at the bank and project future balance once I spend all the budgeted expenses. Do you have any thoughts on how to incorporate something similar into your version?
@@KenjiExplains Help us to sort-out the different years as well. please.
Exactly what i needed!!!
Great Insights and Thanks for the Video....
Splendid boss!!! Keep it up and keep giving us more important stuff just like this ahead 💖💖💖
Thanks! More to come hopefully :)
Thank you, thank you, thank you !!!
Fantastic videos.
Very informative video, I like your video, and what you are teaching is practical since I also use this in my work.
wow easy to follow thanks kenji!
Interesting and informative. Thanks for sharing
Really helpful and explanation is easy to understand
Very helpful vdo
Thank you
I was searching for this
Love the today function and conditional formatting!
Glad you like it!
No time waste only to the point this is what today’s audience want to see 👍👍👍👍👌👌👌
This is a absolutely sweet video
Hi Kenji, great vid - I was wondering if this 'comparison' graphing could be done where there is a CHOOSE used in the data? i.e. could I have a graph comparing multiple scenarios without typing each set of resulting values out as you have in the budget vs analysis?
great content it really helps familiarise with different excel functions
Glad to hear that!
Great video brother, its super helpful, so excel could do this, wow
great explanation!
Great easy to understand video
que excelente ayuda! mil gracias desde Rancagua-Chile
thank you so much ... Keep it up sir.. i have learnt INDEX MATCH AND SUMIF At once . thanks
Great video, Kenji. More power. :)
Great video!
Great tutorial, thank you so much!
Glad you enjoyed it!
Thanks for the videos helping out a lot!
Glad you like them!
Amazing!
Brilliant 👏
Thank you thank you ❤
Thank you. This is very helpful.
You're very welcome!
Nice. For the variance I would use the IF statement so that I can keep the formulas consistent down the column. For example, =IF(D3>C3,C3-D3,D3-C3)
Hey Bro, your teaching is so impressive, subscribing your channel for more information, thanks a lot.😊
Thanks This was very useful for me and will apply in my job as finance officer
Awesome!
Fantastic.
very cool and useful, thanks
Glad it was helpful!
Hi Kenji, Thank you for this tutorial!
thanks for the comment Samuel!
@@KenjiExplains I implemented it today at work. I showed them your video and where i got the idea from :) thank you again, boss
My favorite is autosum. Very underrated.
For years, I used to use excel and google sheets to budget and forecast my finances. This year, I released an app that does it for me with minimal maintenance. Give Money Spider and Money Spider Lite a try on Android.
Very nice
Hi! Good work
Love this channel ..
Thanks!
nice vid as always sir dont stop
More to come!
I am from Viet Nam country, So I thank you for your videos.
Hi Kenji, thanks for this video man it sures help a lot. Quick question is there a way on how I could calculate the total ACTUAL savings instead of just showing how much you save per month?
thank you 😇
so good
Thank you so much Kenji! You are a genius! Can you make some cash flow forecasting template too? Thanks again!
Magic Man..!!
Great work thank you, one question how can i add also the organization’s in the excel ? for example i want to know the spend of each org in a month for an item.. thank you ..
Really love your content Kenji! I just secured an internship this summer because of your video. I learnt a lot. Please keep it up.
Also, do you have any suggestions about how I should behave during the internship? Should I ask a lot of questions or be prepared with everything?
The position is within an accounting firm in Nyc. Looking forward to your reply!
That's awesome to hear congratulations!!! Regarding your questions, I think it's good to ask questions (shows you're passionate) and you'll learn a lot more than if you're just quietly sitting on the sidelines. Also, you come across as more humble than somebody who thinks they know it all...hope this is helpful!
Best of luck with the internship :)
Love your style and pace is perfect. How to use these keyboard shortcuts on a Mac?
Nice video
Please make a video for budget and forecasting of an NPO . Thanks
This is great!! I completed this exact budget vs actual but did not realize at the time the issue I now have with being able to keep my notes. For example, I need to be able to use this same format but each month have my notes per line item. How do I create notes for each month and have it change to the appropriate month along with the data when I use the drop down.
Thanks for the video, when I tried to make the actual date at 12:50 my excel can't accept cause the formula isn't on the list that we take how i do it then ?
hi can u show how to display selecting 3 years and month and category? thanks
I follow that showing Utilities as unfavorable $28 makes more sense but when looking at the % change, it goes from 25% change to -20% change. I follow the mathematical change but conceptually, is it right to say that my variance is off by 25% or 20%? Especially since on the income side we are using Actual as the base whereas in the Expense you are using Budget as the base. Thanks!
Very nice xls file you ender up with. What about add a sheet with all the records pr category? How do you solve that?
Thank you, Kenji. Any guidance you might suggest for capturing and adding income and spending from an external file would be helpful. I can download my banking statements - and creating a system for automatically labeling them by payer (income by provider) or vendor (spending by category) would be awesome.
It would seem that creating a lookup table by amount entered (recurring or variable payments/deposits) or by name would be the trick.
I like using Power Query for automatically importing, cleaning and formatting data from external files to then be analyzed. You can also merge tables (queries) to carry out the lookup function, or you could do it the regular way on the table produced by Power Query. Note you need a Windows version of Excel to use Power Query, as it's not yet available on Mac :'-(
There are plenty of good videos about Power Query on TH-cam.
Would you please share the row data spreadsheet so that we can practice accordingly?
nice ❤❤
Subscribed
Hey Kenji, Can you please create dashboard for warehouse inventory analysis......It will be a great help for us.
Want to know consumption patterns of consumables with help of Excel, ageing analysis report. Need one complete video on that topic.
Great
It’s little fast you have to reduce speed. Except speed the video is informative. Thank you for sharing.
Amazing,, Could you please do a dynamic annual budget for startup company video ?
Thanks. Keep it up
Noted thank you for the suggestion!
Hi Kenji, thanks for great video, i want u to make a video talking about Data analyst and Mart document and do the report use by pivot and vlook up. please.
Hi, Kenji. If possible can u make a video in Company Annual Budget vs Actual variance dashboard like this
Have you found a good automated way to do this for personal P&L/BS, and but also showing gross income and gross taxes paid? All normal tools just grab net pay from bank activity
Hello Kenji , Thank you so much for starting this is very helpful , I'm working on this Excel sheet but I'm getting error when using index match its showing #N/A how to resolve this error?
same problem with me
So much more easily done with a pivot table.
5:31, i wonder how it would be done with those common accounting representations via codes with instruction (which code responds to which thing on other sheet page) and dispersed version of variables for SUMIF without months names repeating itselfs.
Another Match or Index?
Could you please do a series on Financial Modelling Basic to Advanced
¿Por qué en la columnda "actual" me da como resultado 0, si sigo las formulas correctamente?
I've built a number of budget vs actual reports - I would suggest, firstly using full contiguous data both for the budget and actual - then create a simple data model and pivot report - this can be built to be fully automatically updated
If you have your data in segments like shown here, it makes it more manual and time consuming
I do love the visual style however
astounding upload Kenji Explains. I smashed the thumbs up on your video. Maintain up the superior work.
haha love to hear it! Thanks for the comment :)
@@KenjiExplains no problem at all. always happy to support my fellow content creators. i am looking forward to improving on my own current video format i have uploaded and, in the future, trying to create content as good as yours in the long term.
great video, just having some issues replicating your examples on my own sheet. Would you be able to help if I sent you my file?
How do I lock the dashboard to prevent editing and users from seeing the formulas?
yay another video...don't forget to say to like and subscribe at the end
and in the begining
hahahah hope you don't mind...helps out with the algorithm!
Sir, do you have vedios for excel accounting in a package?. I am gonn buy for you?. This is one is too difficulty and i want sequence lessons?.
Would it not be easier to put all the Actuals into a table and then use that summation for the loockups?
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@Lucy Bernardi Interesting, I've always been fascinated with investing and I need to start now. Could you possibly give more information on your Investment Professional and how I can reach out to her?
🔥🔥🔥
Hello there Kenji, nice video Kenji, really useful and helpful. Can you do another video on how to shows multiple month on the dashboard? It would be really nice to know how to do that. Thankyou in advance!
Thank you! Check out this video I made here for a more advanced budget dashboard: th-cam.com/video/Do3sOFny5Hs/w-d-xo.html
@@KenjiExplains Ohhh sorry, didn't realize you've uploaded a new video. Thankyou anyway Kenji! I will definitely watch that video
That’s it’s freaking awesome 😎, Do you the spreadsheet available?
Thanks! It's in the description
Can be available loan amotozation table ?
In the var. % why did u subtract
D8/C8-1 ??
Can somebody explain please?