What does actual and projected mean when doing a budget spreadsheet?

"Actual" refers to the real, recorded figures of income and expenses that have already occurred during a specific period, providing a clear snapshot of financial performance. In contrast, "projected" represents estimates or forecasts of future income and expenses based on assumptions and trends, helping in planning and decision-making. Together, these figures allow for a comparison between what was expected and what actually happened, aiding in financial analysis and adjustments.