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Variance Codes

Track and categorize budget variances on projects.

Overview​

Variance Codes help you categorize the reasons for budget variances on projects. When actual costs differ from estimated costs, variance codes provide insight into why the difference occurred.

Accessing This Setting​

  1. Go to Settings > My Company > Variance Codes

Configuration Options​

Creating Variance Codes​

  • Code - Short identifier
  • Name - Description of the variance reason
  • Category - Type of variance (favorable/unfavorable)
  • Active Status - Enable or disable codes

Common Variance Codes​

  • Scope Change
  • Material Price Increase
  • Labor Efficiency
  • Weather Delay
  • Client Request
  • Estimating Error
  • Subcontractor Issue

Using Variance Codes​

Variance codes are applied when:

  • Recording actual costs against estimates
  • Processing change orders
  • Analyzing project profitability
  • Running variance reports