Fall 2017 Release – New Calculation Method for Variance Reporting

Our latest change to Variance Reporting brings even more flexibility to the Variance Analysis process.

4 Comments to Fall 2017 Release – New Calculation Method for Variance Reporting

  1. Micah says:

    That’s good for calculating plan against actuals, but for 533 reporting it should calculate Previous month’s estimate – current actual divided by current actual for Government 533 reporting for Variance.

    • Scott Wickham says:

      The change in Variance Reporting is different functionality than what the 533 reporting involves. The functionality in the video is simply the “in month” calculation of variance between Actuals and Plans.

      As you pointed out, I can confirm that the iSite 533M reporting deals with previous month’s estimate vs. current month actuals.

      Thank you for your guidance and for taking the time to view some of the new changes this quarter with iSite!

  2. Betty Jo Vermillion says:

    Hi Scott:

    What is the update on the 533 Variance reporting?

    Thanks

    • Scott Wickham says:

      The NASA Form 533M/Q does not currently reflect Variance information.

      The change for Variance Reporting has to do with the Variance Analysis module as well as Variance display capabilities within the Financials module of iSite.

      The new change allows for a configurable algorithm for how the Variance is calculated:

      1. (Plans – Actuals) / Actuals
      2. (Actuals – Plan) / Plan

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