Budgeted vs. actual expenses

Screen reference

Budgeted expenses represent expected costs, while actual expenses represent costs that were incurred. Comparing both helps monitor budget performance.

What you can do

• Use budgeted expenses during planning.
• Use actual expenses once costs occur.
• Compare budgeted and actual values in reports.
• Link expenses to tasks or projects when the relationship matters.

Environmental consulting example

A budgeted expense may estimate $2,000 in sample analysis; actual expenses are recorded after the lab sends an invoice.