QuickBooks Online For Dummies, 8th Edition

Chapter 13

Creating Budgets in QuickBooks

IN THIS CHAPTER

Following the steps to create a budget

Building budgets by importing data

Using values from other worksheets

Knowing how to successfully delete a budget

Many businesses create annual budgets that enable them to project revenues and expenses for the coming year. As the year rolls on, actual results are compared to the budget to determine if things are going as planned. As you’ll see in this chapter, Plus and Advanced subscribers can create budgets based upon current or prior fiscal year actual results or import a budget from a CSV file that you edit in a spreadsheet program such as Microsoft Excel or Google Sheets. Once you have created a budget, you can then run Budget Overview or Budgets vs. Actual reports in QuickBooks.

Creating a Budget

You’re free to create budgets at any time in QuickBooks, but most businesses tend to create budgets toward the end of one fiscal year for the following year. Let’s walk through the steps:

1. Choose Settings ⇒   Account and Settings ⇒   Advanced ⇒   Accounting and confirm that the first month ...