Creating a live Budget vs. Actuals report with LiveFlow is a piece of cake!
Here is how to do it:
Open LiveFlow
From the choose a report dropdown select a Profit & Loss
Enable the toggle “Add budget & variance columns”
Choose to either import a budget from QuickBooks OR use the blank columns we provide.
Click Create Live Report
In the Budget vs. Actuals report, we include a variance column that calculates the difference between your Budget and Actuals. For expense accounts, it's budget - actual; for other accounts, it's actual - budget.
For instance:
Payroll expenses: Budget $500, actual $550, variance $-50 (overspent).
Sales income: Budget $500, actual $550, variance $50 (earned more).