Project Management · Odoo glossary

Budget Variance

Budget variance is the difference between an actual or committed amount and its budget baseline.

Definition

In general ERP practice

Budget variance is the difference between an actual or committed amount and its budget baseline. The sign and whether a variance is favorable depend on whether it concerns revenue or cost.

In Odoo

Odoo analytic budgets and financial budgets support comparisons with recorded activity or ledger balances. Use the same period, project and amount basis; a budget-versus-actual comparison is different from a forecast of the total cost at completion.