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Financial Budget Entry

The data model captures financial budgeting and actual spending, with measures including total budget amount, total actual expenditure, and the variance between them. It also contains individual budgeted and actual amounts for twelve periods. Views such as Budget Entry, Actuals vs Budget, Top Budget Expenses, Budget Status, and Budget Trends provide insights for analysis and decision-making in evaluating budget performance and trends.

Benefits of This Data Model​

  • Enhanced Budget Monitoring: Track budget performance accurately by comparing total budget, actual spending, and variances across different periods for better financial control and decision-making.
  • Detailed Expense Analysis: Utilize individual budgeted and actual amounts for each period to identify specific areas where budget allocations may be exceeding or falling short, enabling targeted expense adjustments.
  • Historical Trend Identification: Analyze budget trends over time to recognize patterns and make informed predictions for future budget planning and resource allocation.
  • Real-time Budget Status Tracking: Keep updated on the current status of budget entries, including remaining funds and expenditure, ensuring transparency and proactive management of financial resources.
  • Top Expense Identification: Easily pinpoint and investigate top budget expenses impacting financial allocations through the Top Budget Expenses view, facilitating swift action for cost optimization and efficiency improvements.

Key Performance Indicators (KPIs)​

  • Budget Total: Total budget amount for all periods combined.
  • Actual Total: Total actual amount spent for all periods combined.
  • Variance Bud vs Act: The variance between the total budget and total actual amounts.
  • Budget Period 1 to Budget Period 12: Budgeted amount for each individual period.
  • Actual Period 1 to Actual Period 12: Actual amount spent for each individual period.

Available Visualizations​

View NameDescription
Budget EntryCentralized view of all financial budget entries for analysis and decision-making.
Actuals vs BudgetCompare actual financial figures with budgeted amounts to evaluate performance and variances.
Top Budget ExpensesIdentify and analyze the highest expenses impacting the financial budget allocation.
Budget StatusTrack the current status of budget entries including remaining funds and spent amounts.
Budget TrendsAnalyze historical data to identify patterns and trends in financial budget allocations.