Input your Budget into Jirav for immediate Budget vs Actual Reporting.
Instead of utilizing Assumptions, Drivers & Sub-Items to model your Income Statement and Budget you can promptly compare Actuals vs the Budget that is already approved and will not be changed or roll-forwarded. This can be accomplished by directly inputting your Budget figures into the Forecast period within Jirav.
This article explains how to input your Income Statement and Balance Sheet data into Jirav and build a Budget vs Actual Report.
Entering Income Statement
Income Statement values can be hardcoded under blue rows from the specific Department level. To accomplish this, navigate to each of the Income Statement sections as Revenue, COGS, OpEx, and Other, choose the right Department, and hardcode values under it:
Jirav allows pasting multiple rows into it. Mark the right data that you would like to enter, copy them, and paste them into Jirav (you can use Ctrl+C & Ctrl+V shortcuts on your Keyboard):
Note, that each Section (Revenue, COGS, OpEx, and Other) and each Department need to be entered separately.
Be Aware:
- There is no automatic way to import data from Excel or Google Sheets to the Forecasted Period in Jirav
Entering Balance Sheet
Balance Sheet accounts automatically roll forward the prior month's balance from Actuals by default. Balances under the Forecast Period can be adjusted by clicking on the dropdown next to each GL account and entering values under blue rows for balance Increase and/or Decrease:
You can hardcode Increase and Decrease as positive values separately under each line, or you can hardcode Decreases as a negative value under the Increase Line - the result and Cash impact will be the same.
Helpful Hint:
- Once hardcoding your Budget 2024 into Jirav is completed, make this Plan POR
- Making a Plan a PoR permanently locks down that plan, making it read-only and permanently saved for audibility
- See Plan of Record (POR) Article
Build a Budget vs Actuals Report
Once your Budget is successfully entered into Jirav you can build your Report that compares Budget vs Actuals.
Navigate to Reports, create a new Report Package as Budget vs Actuals, or add a desired Report within the already existing Report Package.
Then, add the Income Statement Report Type as a new Section.
Click on Edit Columns and apply the following adjustments:
- change the Report Period to This Year-To-Last-Month,
- set Report Columns to Years,
- dhow notes to allow adding comments per P&L line,
- choose Source 1 as the 2024 Budget
- choose Column 2 as Actuals
- check Variance # as On
- click on the Apply button to save changes
Compare the hardcoded 2024 Budget to your Actuals coming from the Accounting System:
