Using the Variance report 

The Variance report compares two sets of data. 
How you set it up depends on the question you want to answer and the information you have available in Farm Focus. 

Below are common ways to use the Variance report. 

1. End-of-year review (no budget) 

If you don’t have a budget, use the Variance report at the end of the financial year. 

Question: 
How did I perform this year compared to last year? 

Set up 

This gives a simple year-to-year comparison so you can see where income or expenses have changed.  

2. Year-to-date comparison during the year 

You can also use the Variance report during the financial year to track progress. 

Question: 
How well am I doing this year compared to last year up to now? 

For example: comparing results up to the end of February. 

Set up 

Set the date range from the start of the financial year to the last full month with data entered (for example, February). 

This shows how your current year is tracking compared to the same point last year. 

3. Actuals vs Budget 

If you have a budget, you can compare your results to what you planned. 

Question: 
How well am I doing compared to what I expected to do? 

Set up 

Set the date range from the start of the financial year to the last full month with data entered (for example, February). 

This shows how your current year is tracking compared to your budget to the same point in time.

Some farmers update their budgets during the year. 
If you have created budget baselines, you can choose to compare against: 

• the original budget created at the start of the financial year 

• the latest updated budget 

4. Actuals and Plan (forecast for the rest of the year) 

Another option is to compare actual results so far with a plan for the rest of the year. 

This lets you see how the full financial year may finish. 

Example: 

• Actual results up to February 

• Plan or budget for the remaining months 

5. Comparing results with what you told your bank 

Before meeting with your bank manager, it’s useful to check how you're tracking against the budget you provided them. 

Question: 
How well am I doing compared to what I told my bank manager I would do? 

Set up 

This assumes you created a baseline copy of the budget when it was sent to the bank. 

6. Comparing a scenario (for example buying a new runoff) 

If you’re planning a major change, such as buying a runoff, you may create a scenario budget. 

Question: 
What would this new scenario look like compared to a normal year? 

Set up 

This helps you see how the new situation compares with your current standard operation.