Reporting and close templatesAutomate variance analysis from NetSuite
Modern compares actuals in NetSuite with budget and forecast, digs into the transactions behind every material variance and drafts commentary in Excel that budget owners only need to confirm.
TriggerWorking day 5
Steps5 steps, from trigger to sign-off
ControlBudget owners confirm their commentary
Free to start. No card needed.
Working day 5The instruction
“On working day 5, compare actuals in NetSuite with budget and the latest forecast by department and account. For any line more than $10,000 or 10% off budget, find the transactions behind it and explain the cause in one or two sentences. Put the commentary next to the numbers in our Excel variance file and ask each budget owner to confirm their lines.”
Works with every major ERP
- +100 more
How it runs
5 steps from trigger to sign-off
- 01
Pull actuals and budget
Reads actuals, budget and forecast by department and account.
NetSuite - 02
Find material variances
Flags lines over your threshold by department, account or project.
Modern - 03
Explain the cause
Traces each variance to vendors, invoices, journals or timing.
Modern - 04
Write it up
Adds the commentary next to the numbers in your Excel variance file.
Microsoft Excel - 05
Confirm with owners
Each budget owner confirms or edits their lines in Slack before the file is final.
Slack
Replaces management reporting software
Still paying for management reporting?
This template does the job of Fathom inside Modern. Run the stack audit to see what you could cancel across your whole finance stack.
Related templates
More reporting and close automations
- Replaces FathomWorking day 8
Reporting and close
Build the month-end management pack
Pulls the P&L, balance sheet and cash flow from Xero, fills your Excel pack and drafts commentary for the finance lead to review.
5 stepsUse template → - Working day 4
Reporting and close
Post overhead allocation journals
Reads allocation drivers from Excel, splits shared overheads across departments and drafts the journals in Sage for approval.
4 stepsUse template → 
Last working day of the monthReporting and close
Post accruals and release prepayments
Finds costs with no bill yet, proposes accruals, releases prepayments on schedule and drafts the journals in Xero for approval.
4 stepsUse template →
FAQs
Write budget versus actual commentary: FAQs
Can’t find what you’re looking for? Send us a message and a person on the team will answer.
It uses the thresholds in your instruction, such as $10,000 or 10% off budget. You can set different thresholds for revenue, payroll and other costs.
Each explanation links to the transactions behind it, so budget owners can check it quickly. Nothing is final until they confirm.
Yes. Modern compares actuals with budgets in Xero, QuickBooks, Sage or NetSuite.