# Editable budget vs actual commentary worksheet

Fictional teaching examples, not company results. Obtain qualified finance review. Revenue and expenses are positive; variance is actual minus budget. Do not add independent scenarios. Evidence references must remain access-restricted.

## Report scope

- Period, entity, currency and recognition basis: ____________________
- Fixed budget version and reconciled actual version: ____________________
- Account mapping, sign convention and percentage denominator: ____________________
- Approved materiality and completeness checks: ____________________
- Preparer, finance reviewer, recipients and deadline: ____________________
- Next review date and unresolved release limitations: ____________________

## 1. Revenue volume: identify what did not happen

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 2. Revenue mix: avoid calling a higher average a price increase

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 3. Payroll: show vacancy savings and their offsets

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 4. Contractors: distinguish changed scope from delivery timing

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 5. Marketing: make the gross offsets add up

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 6. Cloud and software: retain a quantified unknown

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 7. Travel and events: separate deferred activity from real fees

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 8. Facilities: distinguish a recurring base from an isolated repair

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 9. Currency translation: show constant-currency and reported effects

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## 10. Professional fees: service timing is not payment timing

- Budget, actual, signed variance and percentage or undefined basis: ____________________
- Signed supported drivers, evidence references and allocation rule: ____________________
- Calculated residual, unresolved question and contrary evidence: ____________________
- Timing versus recurring assumption; recognition versus invoice/payment date: ____________________
- Owner, next action, deadline, approved explanation version and separate forecast decision: ____________________

## Repeat for every explanation before release

- Recompute totals and each signed driver: ____________________
- Do not infer business cause from a ledger label: ____________________
- Show material offsets and unexplained remainder: ____________________
- Check service period and applicable accounting treatment: ____________________
- Separate actual costs from commitments, invoices and cash: ____________________
- Avoid annualizing temporary reductions or one-off costs: ____________________
- Confirm source permissions and remove personal payroll details: ____________________
- Record finance review, correction history and next follow-up: ____________________

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OpenMax · 2026-09-04 · https://openmax.com/resources/blog/budget-vs-actual-commentary-examples/