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What makes a variance report useful?
A variance report should show where expected stock levels differ from the quantities physically counted. It can then guide reviews of sales data, invoices, deliveries, transfers, wastage & barcode records.
Without an accurate physical count, the report may reproduce existing data errors rather than reveal them.Further information:
https://stocktakingvic.com.au/services/hospitality-industry-stocktakes/
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Budget Variance Report in Xero
The Budget Variance report shows actual figures with budgeted amounts for the current month and YTD, and the variance for each as both a value and a percentage.
Go to Reports > All Reports and select Budget Variance to run the report.
The report is simply the Profit and Loss report with a different title and the Actual vs Overall Budget format selected by default. Accordingly, all of the functionality that is available in the Profit and Loss report can also be found in the Budget Variance report.
