Before you begin, make sure you:
Ensure your budgets are properly set up and configured in GATHER.nexus
Verify that your legal entities have complete actual data for comparison periods
Confirm that your Xero or QuickBooks integrations are syncing actual financial data
Have your preferred budget, reporting periods, and currency identified
Check that your chart of accounts mapping aligns between budget and actual data
Ensure you have appropriate permissions to create and view budget variance reports
Accessing the Reports Section
Navigate to the Reports functionality through GATHER.nexus's comprehensive Group Financial Reporting interface.
(The GATHER.nexus platform dashboard showing the Group Financial Reporting section with "Reports" highlighted in red, providing access to standardised and custom report creation tools.)
From the main platform interface, locate the Group Financial Reporting section and click Reports to access the comprehensive reporting tools.
Reports List Overview
The Reports management interface provides a clean workspace for creating and managing your Budget vs Actual reports.
(The Reports dashboard displaying the management interface with columns for Report Name, Year, Report Frequency, and Currency. The "Add Report" button is highlighted in red for creating new Budget vs Actual reports.)
Key Interface Elements:
Report Management Columns: Report Name, Year, Report Frequency, Currency
Add Report Button: Located in the top right for creating new reports
Search and Filter: Tools for locating specific reports
Action Controls: Edit, copy, and delete options for existing reports
Initial Reports Setup
When you first access the Reports functionality, you'll see a clean interface ready for your first report creation:
Initial State Message: "No report entries available at this time."
This indicates you're ready to begin creating your comprehensive Budget vs Actual reporting system.
Creating Your Budget vs Actual Report
Begin building your performance analysis reporting by adding a new Budget vs Actual report that aligns with your management requirements.
Step 1: Initiate Report Creation
Click Add Report to begin creating your first Budget vs Actual performance report.
Step 2: Select Report Type
In the report creation interface, you'll be presented with multiple reporting options. Select Budget vs Actual from the available report types to access the specific configuration for variance analysis reporting.
Step 3: Configure Report Settings
Complete the report configuration in the Add Report dialog.
Essential Report Information:
Report Name Enter a descriptive name for your report (e.g., "Demo Report")
Budget Selection Choose the budget you want to compare against actual results (e.g., "Demo Budget 2")
This links your report to your established budget structure for accurate comparison.
Group Configuration:
Group: Select the relevant group (e.g., "Demo Group")
GRT: Choose the appropriate GRT template (e.g., "demo template 2")
Time Period Settings:
Year: Select the financial year (e.g., "2025")
Group Class: Choose the relevant group class (e.g., "Demo Class - Class Value 1")
Report Frequency and Period:
Report Frequency: Select how often the report runs (e.g., "Quarterly")
Report Period: Choose specific periods to include (e.g., "Q1 (Jan 2025 - Mar 2025)")
Currency Configuration:
Currency: Select your reporting currency (e.g., "USD - United States Dollar")
Step 4: Save Your Report
Click Add to create your Budget vs Actual report and make it available for analysis.
(The "Add" button highlighted in red to complete the Budget vs Actual report creation process.)
Understanding Your Budget vs Actual Report
Your completed report provides comprehensive variance analysis in a professional, easy-to-understand format.
Report Structure and Features
Report Header Information:
Group: Demo Group
GRT Name: demo template 2
Financial Year: 2025
Currency: USD
Report Type: Budget vs Actual
Quarterly Analysis Layout:
Q1 (Jan 2025 - Mar 2025): Budget vs Actual comparison
Q2 (Apr 2025 - Jun 2025): Budget vs Actual comparison
Q3 (Jul 2025): Budget analysis continuation
Advanced Report Features
Adding Explanatory Notes
Access the Notes functionality to provide context for your variance analysis:
(The Notes dialog window allows you to add up to 500 characters of explanatory text about report variances and performance context.)
Notes Functionality:
Add commentary about significant variances
Provide context for performance differences
Include explanations for stakeholders
Save button to preserve your analysis notes
Exchange Rate Applied
Review Exchange Rates used:
(The Monthly Average Exchange Rates dialog showing currency conversion rates for USD to INR across different months in 2025, ensuring accurate multi-currency reporting.)
Report Export Options
GATHER.nexus provides flexible export capabilities for sharing and further analysis:
(The Export dropdown menu highlighted in red, showing available export formats for distributing Budget vs Actual reports to stakeholders.)
Available Export Formats:
Excel Formats:
XLS: Compatible with older Excel versions and legacy systems
XLSX: Modern Excel format with enhanced features and better compression
Export Process:
Click the Export as dropdown in the report toolbar
Select your preferred format (XLS or XLSX)
The report will be prepared for download
Save the file to your desired location for distribution or further analysis
Report Customisation
Access advanced report configuration through the settings panel:
(The Budget vs Actuals Report configuration panel showing customisation options for report frequency, period selection, variance display options, and amount representation settings.)
Customisation Options:
Report Frequency Selection:
Choose from Quarterly, Monthly, or other frequency options
Modify reporting periods as business needs change
Report Period Management:
Select specific periods (Q1, Q2) for focused analysis
Remove periods by clicking the "X" next to each selected period
Add multiple quarters for comprehensive comparison
Variance Display Options:
Budget Variance: Include variance calculations in your report
Budget Variance with %: Display both absolute and percentage variances
Amount Representation:
Choose display format (e.g. "(Thousands) K")
Select appropriate scaling for executive reporting
Apply Changes: Click Apply to update your report with new settings
Benefits of Budget vs Actual Reporting
Performance Monitoring: Track actual performance against planned targets across all business areas
Variance Analysis: Identify and investigate budget variations requiring management attention
Strategic Insights: Understand business performance trends and patterns
Executive Reporting: Professional reports suitable for board and senior management review
Accountability: Clear performance measurement across business units and time periods
Best Practices for Budget vs Actual Reports
Regular Review Schedule: Generate reports monthly or quarterly for consistent monitoring
Variance Investigation: Focus on significant differences requiring management attention
Contextual Notes: Use the notes feature to document explanations for major variances
Trend Analysis: Compare performance across multiple periods to identify patterns
Stakeholder Communication: Export reports in appropriate formats for different audiences
Common questions
Q: Why don't I see any variance calculations in my report?
A: Check that you've selected the correct budget and that actual data exists for the comparison periods. Ensure your budget and actual data use compatible account structures.
Q: Can I change the budget being compared after creating the report?
A: Yes, use the Edit button to modify the budget selection, but note that this will regenerate the entire variance analysis with the new budget data.
Q: How often should I generate Budget vs Actual reports?
A: Most organisations benefit from monthly or quarterly variance analysis. Choose frequency based on your management reporting cycles and business requirements.
Q: Can I include multiple budgets in one variance analysis?
A: Each Budget vs Actual report compares against one budget. For multiple budget comparisons, create separate reports or use the duplicate function to efficiently create similar analyses.
Q: What does a positive vs negative variance indicate?
A: Positive variances typically indicate actual performance exceeding budget (good for revenue, concerning for costs). Negative variances indicate actual performance falling short of budget targets.
Q: How do I handle significant variances that require investigation?
A: Use the drill-down functionality to examine underlying transactions, add explanatory notes to document your findings, and consider whether budget adjustments or corrective actions are needed.
What's next?
Now that you've mastered Budget vs Actual reporting, consider exploring:
Trend Analysis: Compare variance patterns across multiple periods
Budget Revisions: Use variance insights to improve future budget accuracy
Performance Dashboards: Create executive dashboards combining multiple variance analyses
Corrective Action Tracking: Implement processes to address significant variances
Have questions or need assistance❓
Contact our support team at support@gather.nexus