Working with Variance Reporting

Variance Comments Collection automates the process of managers submitting explanations for variances between monthly budgets and actuals. In addition to collecting manager comments, Variance Comments Collection also prompts managers to submit proposed action plans for bringing their department's actuals in line with targets.

The Variance Comments Collection feature is implemented as an optional tab that you can include in the Month End Review Dashboard. This tab allows the following:

• Collect variance explanations and action plans for correction on a monthly basis.
• Enables one-stop shopping for the department manager by providing drill-downs.
• Provides a way to input variance explanations and actions plans for multiple departments at the same time.