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Budget vs actual
- Twelve months by line
- Report for any month
- Year to date built in
Opens in Excel, Google Sheets and Apple Numbers.
Free tools · Planning
Free budget vs actual template that explains each variance.
Excello's free budget vs actual template compares each month's actual results with your budget, line by line, and shows the variance, whether it is favorable, and the year to date.
Type in your budget once, add actual figures as each month closes, and pick any month to report on.
Free. No sign-up. Opens in Excel and Google Sheets.
- Template
- Months twelve
- Report any month
- Year to date built in
- Price free
An actual vs budget chart, from the example
At a glance
The example business sits below its revenue budget early in the year and ends ahead of it. Tap, hover or tab through the months for the figures.
actual budget
Show the chart figures as a table
| Month | Budget | Actual | Difference |
|---|---|---|---|
| Jan | $50,000 | $48,000 | −$2,000 |
| Feb | $52,500 | $51,500 | −$1,000 |
| Mar | $55,000 | $55,000 | $0 |
| Apr | $57,500 | $54,000 | −$3,500 |
| May | $60,000 | $60,500 | +$500 |
| Jun | $62,500 | $63,000 | +$500 |
| Jul | $65,000 | $64,000 | −$1,000 |
| Aug | $67,500 | $66,500 | −$1,000 |
| Sep | $70,000 | $70,500 | +$500 |
| Oct | $72,500 | $71,000 | −$1,500 |
| Nov | $75,000 | $75,500 | +$500 |
| Dec | $77,500 | $78,000 | +$500 |
A sample budget vs actual report
June
The template's report for June. Revenue came in ahead of budget, but operating profit finished $7,250 behind, mostly because payroll ran $3,800 over after a hire started early.
| Line | Budget | Actual | Variance | Variance % | Result | Variance, year to date |
|---|---|---|---|---|---|---|
| Revenue | $62,500 | $63,000 | $500 | +0.8% | Favorable | −$5,500 |
| Cost of revenue | $12,500 | $13,900 | $1,400 | +11.2% | Unfavorable | $2,300 |
| Payroll | $30,000 | $33,800 | $3,800 | +12.7% | Unfavorable | $5,300 |
| Marketing | $6,000 | $8,200 | $2,200 | +36.7% | Unfavorable | $3,600 |
| Software | $2,500 | $2,750 | $250 | +10.0% | Unfavorable | $450 |
| Rent and office | $4,000 | $4,000 | $0 | 0.0% | On budget | $0 |
| Other costs | $2,000 | $2,100 | $100 | +5.0% | Unfavorable | $400 |
| Operating profit | $5,500 | −$1,750 | −$7,250 | −131.8% | Unfavorable | −$17,550 |
Figures are illustrative and calculated by the template's own formulas.
How to read budget vs actual report results
Five steps
Start with the bottom line
Is operating profit ahead of or behind budget, for the month and for the year to date?
Find the biggest variances
Sort by the size of the variance in money. A large percentage on a small line rarely matters.
Check the year to date
A bad month can be timing: a cost that was budgeted for next month and paid early.
Separate timing from real change
Timing corrects itself. A real change, like an extra hire, needs the forecast updated.
Write one line per variance
A short reason next to each large variance turns numbers into decisions.
The budget vs actual format, column by column
The layout
Budget vs actual report in QuickBooks, or this template
Where to run it
Source: Intuit QuickBooks help, creating budgets in QuickBooks Online, checked September 2026
Actuals worth comparing
Where Excello fits
Frequently asked questions
What is a budget vs actual report?
A budget vs actual report compares what a business planned to earn and spend with what actually happened. It works line by line and shows each difference as a variance in money and as a percentage.
How do you calculate a budget variance?
Subtract the budget from the actual figure, then divide by the budget for the percentage. In the example, June revenue of $63,000 against a budget of $62,500 is a variance of $500, or +0.8%.
What is a favorable variance?
A variance that helps profit. Income above budget is favorable, and so is a cost below budget. Income below budget, or a cost above it, is unfavorable.
How often should you compare budget to actual?
Every month, once the books are closed, so the actual figures are final. A quarterly review then looks at the year to date and updates the forecast for the rest of the year.
Does QuickBooks have a budget vs actual report?
Yes. QuickBooks Online Plus and Advanced let you create a budget and run a Budget vs. Actuals report. Xero offers a Budget Variance report, and this Excel template works whichever software you use.
Is this budget vs actual template free?
Yes. The Excel file is free to download and use, with no sign-up needed. It includes budget and actual sheets for twelve months and a report for any month you choose.