A calculated item is a new row or column item computed from other items of the same field, like a Q1 item equal to Jan plus Feb plus Mar.

How

Select an item in the field, PivotTable Analyze, Fields, Items and Sets, Calculated Item.

• Combine items

  Select a Month item, Fields Items and Sets, Calculated Item, Name H1, Formula =Jan+Feb+Mar+Apr+May+Jun → A new H1 row

  Custom aggregates.

• Variance item

  Calculated Item, =Actual-Budget on a Scenario field → A Variance row

  Comparisons between items.

• Remove

  Delete: Calculated Item, select it, Delete → Removed

  Cleanup.

• Grand totals include calculated items, which double counts; hide the originals or turn totals off.
• Rarely the right tool; a source column or a measure is usually cleaner.
• Only one calculated item field per pivot cache works reliably.

• Totals double count.
• Grouping and calculated items cannot coexist on a field.