How to use the YTD (year to date) Variance report

Why use the YTD Variance report?

The YTD (year-to-date) Variance report is useful for monitoring your income and expenditure, particularly if you are managing your finances closely. It helps you spot significant differences between actual and planned figures, allowing you to address any unexpected trends or timing issues.

How to use the YTD Variance report

Use the YTD Variance report to compare your actual income and expenditure with your planned figures. This helps you determine whether any differences are due to timing or if they indicate a developing trend.

A variance for a single month may not be concerning if it corrects itself over time. However, ongoing variances that do not resolve may require further investigation.

How to create the YTD Variance report

1. Go to Reports > YTD Variance.

2. Select the two data sets you want to compare:

   • Column A: Your main source of data (e.g., Actuals for the current year).

   • Column B: The data you want to compare against (e.g., baseline plan for the current year).

3. Select the date range for the report:

   • Set First month to the start of the financial year.

   • Set Last month to the most recent month with complete data entered in Farm Focus.

4. Choose a reporting view:

   • Payment date: Includes paid items within the selected timeframe.

   • Accrual view: Includes invoiced items within the selected timeframe. Learn more about Accrual reporting.

5. To understand remaining income or expenses, select View YTD Remaining column.

6. Click Apply to display the report.

TIP: Farm Focus defaults to the most recent month. Make sure all transactions are matched to invoices or fully coded.

View options

• Quantity columns: Toggle on or off using the view icon in the top right corner to show or hide quantities such as milk solids, fertiliser, or livestock numbers.

• GST Exclusive / GST Inclusive: View the report as GST Exclusive or Inclusive.

• Detail level: Use the chevrons on the left-hand side to expand or collapse details by section, category, or extended code.

• Filter options: Use the filter icon to narrow your view by codes, bank accounts, or tags.

• Summary: Use for an AI generated summary of the report.

How is the variance calculated?

Click the information icon on the variance column to view how the calculation is made.

Calculation: (Column A / Column B) × 100

• If Column A is greater than Column B, the percentage is > 100%.

• If Column A is less than Column B, the percentage is < 100%.

• If Column A and Column B are equal, the percentage is 100%.

How to interpret the data

• Column A: Main data source.

• Column B: Comparison data.

• Column C: Actual dollar variance.

• Column D: Percentage variance.

Colour-coded highlights:

• Red box: Monthly variance.

• Purple box: YTD variance.

• Yellow box: YTD remaining (if selected).

TIP: For large values, focus on the actual dollar variation rather than the percentage variation.

Additional information

• Variances under $1,000 do not display a percentage.

• Variances over 999% are capped at 999%.

• Amounts are rounded to the nearest whole number.

TIP: Use the settings and filter icons to display only the necessary data.