How to Calculate the Variance Using a Pivot Table in Excel – Easy Steps

This is the dataset.

To calculate the variance of sales between 2020 and 2021:

Step 1 – Create a Pivot Table from a Data Range

• Select B4:D14.
• Go to the Insert tab >> Pivot Table >> From Table/Range.

• In the new window, select New Worksheet to create a pivot table. Click OK.

Excel will create a pivot table.

Step 2 – Drag the Fields

• In PivotTable Fields, enter Product in Rows, Year in Columns, and Sales Amount in Values

The table will be created.

Step 3: Remove the Grand Total for Rows

• Go to Design >> select Layout >> select Grand Total >> choose On For Columns Only.

Excel will remove the Grand Total for Rows.

Step 4 – Change Cell Format to Accounting

• Select B5:D10.
• Go to the Home tab >> select the drop-down >> select More Number Formats.

• In the Format Cells box, select Accounting >> set Decimal Places as 0 >> Click OK.

Excel will change the format of the sales amounts.

Step 5 – Calculate the Variance as a Change in Percentage

• Enter the Sales Amount in Values field.

• Select the drop-down shown below >> select Value Field Settings.

• In the Value Field Settings window, select Custom Name Variance >> select Show Values as >> choose % Difference From.

• Select the Base field as Year and the Base item as 2020.
• Click OK.

• Excel will calculate the variance.

• Select column C.
• Choose Hide.

This is the output.

Things to Remember

• This variance is different from statistical variance.

Download Practice Workbook

Download the workbook and practice.

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