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How to track Budget Vs. Actuals in Finmark
How to track Budget Vs. Actuals in Finmark

In this article, we share the few simple steps to create the budget vs actuals view

Updated over a week ago

Creating a budget vs actual view in Finmark can be done with the following steps:

  • Create the model that you want to snapshot as your Budget

  • Click the selected scenario drop-down and select manage scenarios

  • Click on the meatball icon to the right of the scenario you want to "lock" as the budget

  • Select "Create a Budget"

  • Click on the compare scenario dropdown and select your new budget model to compare

  • Done!

Step 1: With your Operating Budget completed, navigate to the select scenario dropdown on the left-side navigation bar.

Step 2: Click Manage your Scenarios.

Step 3: Click on the meatball icon to the right of the scenario you have set as your Operating Budget the click "Create a Budget"

A second Budget scenario will be automatically made.

NOTE: If you are connected to any integrations, the system will automatically disconnect the accounts so that youre new budget isnt getting overridden with actuals.

Once you have created the budget model, now you can compare your operating plan to your budget to identify the variances and take action to improve your forecast.

We recommend taking the time each month to update your actuals in your operating plan to maintain an updated financial plan.

Comparing Scenarios:

Use the compare scenario dropdown on the left side navigation bar to see your budget vs actuals.

You can compare on the dashboard charts and on the actuals page.

Dashboard Chart Comparison Example:

Actuals Scenario Comparison Page Example:

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