# Budget Variance Report Template Source: https://nerix.ai/templates/budget-variance-report Compare budget with actual results, explain the gaps and say what you will do about them. ## Fill it in and preview You are signed in. Fill it in your workspace and it is kept as a document you can send, share and have signed. [Open in your workspace](https://app.nerix.ai/documents/templates/budget-variance-report) ### Budget variance report **Organisation:** Northgate Building Ltd **Period:** Third quarter 2027, July to September **Currency and unit:** EUR, thousands **Prepared by:** Sofia Marin, Finance Manager **Date:** 14 October 2027 ## Summary Revenue was 4 percent above budget. Costs were 7 percent above budget, mainly materials. Profit is 9 percent below plan for the quarter. ## Income | Item | Budget | Actual | Variance | | Building contracts | Budget 1,200 | Actual 1,290 | Variance +90 (+7.5%) | | Repairs and maintenance | Budget 300 | Actual 282 | Variance -18 (-6.0%) | ## Costs | Item | Budget | Actual | Variance | | Materials | Budget 520 | Actual 610 | Variance +90 (+17.3%) | | Wages | Budget 480 | Actual 492 | Variance +12 (+2.5%) | | Vehicles | Budget 60 | Actual 58 | Variance -2 (-3.3%) | ## Profit | | | | | Budget 440 | Actual 400 | Variance -40 (-9.1%) | Variance is actual minus budget. For income a positive variance is favourable. For costs a positive variance is overspending. ## Reasons for the main variances Materials: timber prices rose 14 percent in August and two projects needed extra steel. Revenue: one contract was finished early and billed in this quarter, not the next. ## One-off and timing differences EUR 60 of the revenue gain is timing and will reverse in the fourth quarter. ## Outlook for the full year We expect to end the year about 5 percent below budgeted profit unless material costs fall. ## Actions Agree fixed prices with two suppliers by 31 October (Sofia Marin). Review all open quotes for price rises (Ahmed Rahman, by 15 November). Templates are a careful starting point, not legal advice. Where the law matters, check what applies where you are. Finance and accounting ## What this template is for A budget variance report that compares plan with actual results. Show income and cost variances, the reasons, the full-year outlook and the actions to take. It is free to fill in online, needs no account, and downloads as a Word document or a PDF. [See all Finance and accounting templates](https://nerix.ai/templates/finance-accounting) Finance and accounting ## What you fill in The form asks for 13 details. The document fills itself in as you type. - ### Company or department For example: Northgate Building Ltd - ### Period For example: Third quarter 2027, July to September - ### Currency and unit For example: EUR, thousands - ### Prepared by For example: Sofia Marin, Finance Manager - ### Date For example: 14 October 2027 - ### Summary For example: Revenue was 4 percent above budget. Costs were 7 percent above budget, mainly materials. Profit is 9 percent below plan for the quarter. - ### Income: budget, actual, variance One row for each line of income. For example: Building contracts | Budget 1,200 | Actual 1,290 | Variance +90 (+7.5%) Repairs and maintenance | Budget 300 | Actual 282 | Variance -18 (-6.0%) - ### Costs: budget, actual, variance One row for each cost. For example: Materials | Budget 520 | Actual 610 | Variance +90 (+17.3%) Wages | Budget 480 | Actual 492 | Variance +12 (+2.5%) Vehicles | Budget 60 | Actual 58 | Variance -2 (-3.3%) - ### Profit: budget, actual, variance For example: Budget 440 | Actual 400 | Variance -40 (-9.1%) - ### Reasons for the main variances For example: Materials: timber prices rose 14 percent in August and two projects needed extra steel. Revenue: one contract was finished early and billed in this quarter, not the next. - ### One-off or timing differences optional For example: EUR 60 of the revenue gain is timing and will reverse in the fourth quarter. - ### Outlook for the full year For example: We expect to end the year about 5 percent below budgeted profit unless material costs fall. - ### Actions For example: Agree fixed prices with two suppliers by 31 October (Sofia Marin). Review all open quotes for price rises (Ahmed Rahman, by 15 November). Finance and accounting ## What is inside The parts of this document, in order. - 1 Summary - 2 Income - 3 Costs - 4 Profit - 5 Reasons for the main variances - 6 One-off and timing differences - 7 Outlook for the full year - 8 Actions Templates ## How it works - 01 ### Fill in Type your details in the form. The document fills itself in as you type; click any gap to jump to its field. - 02 ### Check Read it through. Gaps you have not filled stay marked, so nothing goes out half done. - 03 ### Download Save it as a Word document to edit further, or as a PDF to send or print. ### Make it yours with AI Open it in the chat and ask for changes: shorter, firmer, another situation, another language. [Adapt it with nerix](https://nerix.ai/try?template=budget-variance-report) ### Was this template helpful? Finance and accounting ## Questions people ask ### What details does this template ask for? The form asks for 13 details, starting with Company or department, Period, Currency and unit, Prepared by, Date. 1 more are optional. ### Can I download this template as Word or PDF? Yes. When you have filled in the form, save it as a Word document to keep editing, or as a PDF to send or print. It is free and needs no account. ### Is what I type sent anywhere? No. What you type stays in your browser while you fill in the document. It only goes to nerix if you choose to open the template in the chat. ### Are these finance templates free? Most are. Fill in and download them for free as Word or PDF, with no account. A few longer documents are premium: free to fill in, paid once to download, and marked with their price. ### Do these templates include tax rules? No. Tax and invoicing rules differ by country. Each template has fields for amounts and references, and you add the tax details your local rules require. ### Can I use them with my accounting software? Yes. 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