QuickBooks Online Manual
Budgeting



About Budgeting
QuickBooks provides the ability for creating budgets so you can see how well your company is meeting your budget goals. For each account, customer or job, and class combination, you can create one budget per fiscal year. For example, if you create a 1999 budget for lumber (an expense account) for the Harahan remodel (a job for your customer Harahan), you cannot create a second 1999 budget for lumber on the Harahan remodel.

However, you can create as many separate budgets as you want within the same fiscal year as long as each budget applies to something different. For example, it's OK to have a 1999 budget for lumber for the Harahan remodel and a 1999 budget for lumber on the O'Conner remodel (the Harahan and O'Conner remodels are different Customer:Job combinations). ou can enter a bill for any kind of expense you track through expense accounts.

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Creating a Budget for Income and Expense Accounts
To see variances between budgeted and actual amounts by time period, set up budgets for accounts.

1. From the "Company" menu, choose "Set Up Budgets".

For QuickBooks 1999:
From the "Activities" menu, choose "Set Up Budgets".

2. Choose the Fiscal Year you are setting up the budget for in the "Budget for Fiscal Year" field by using the up and down arrows.
3. Choose the account you are setting up the budget for in the "Account" field, by using the drop-down list. Leave the "Customer:Job" and "Class" fields blank.
4. Enter the budget amount for the first month, and then fill in the remaining months in the appropriate month fields.
You can use the "Fill Down" button to speed up entering the amounts. If you want to copy the same amount to each month click "Fill Down" and leave the amount 0.00 in the "Fill Down" window and click "OK".
If you want to increase each month by a specific amount or percentage, click "Fill Down" then enter that percentage or specific amount in the "Fill Down" window and click "OK".
5. Click "Save" when you are done filling in the budget amounts for the months in this particular account.
6. If you are budgeting for several accounts, you can then choose another account and repeat steps 2-5. When you are finished entering the information for all the accounts you are budgeting for, click "OK" to close the window.

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Creating a Budget for a Customer or Job
To budget for all the income and expenses related to a customer or job, leave the Account and Class fields blank.

1. From the "Company" menu, choose "Set Up Budgets"

For QuickBooks 1999:
From the "Activities" menu, choose "Set Up Budgets".

2. Choose the Fiscal Year you are setting up the budget for in the "Budget for Fiscal Year" field by using the up and down arrows.
3. Choose a Customer:Job in the "Customer:Job" field using the drop-down list.
4. Enter the budget amount for the first month, and then fill in the remaining months.
You can use the "Fill Down" button to speed up entering the amounts. If you want to copy the same amount to each month click "Fill Down" and leave the amount 0.00 in the "Fill Down" window and click "OK".
If you want to increase each month by a specific amount or percentage, click "Fill Down" then enter that percentage or specific amount in the "Fill Down" window and click "OK".
5. Click "Save", and then: If you are budgeting for several customers or jobs, the next customer you would like to budget for in the Customer:Job field and repeat steps 2-4.
6. When you are finished creating your budgets, click "OK".

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Copying a Budget to a New Year

1. From the "File" menu, choose "Utilities" then "Export".
2. In the "Export" window, choose "Budgets".
3. Click "OK".
4. You will now be in a different "Export" window where you can give your budget file a name and choose where to save the file. Enter a filename (like budget.iif) in the "File Name" field. It must have an .IIF extension.
5. Choose a place to save the file in so you can open it in Microsoft Excel in the next step.
6. Close QuickBooks.
7. Open the "budget.IIF" file with Microsoft Excel. Once open, change the year in the column called "Startdate" to the new year that you are copying the budget to.
8. Save the changes and close Microsoft Excel file.
9. Reopen your QuickBooks file. From the "File" menu, choose "Utilities", then "Import".
10. In the "Import" window, select the "budget.IIF" file in which you changed the date and put it in the "File Name" field. In the "Look In" field, select where you saved the file.
11. Click "Open".

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Editing a Budget

1. Display the "Set Up Budgets" window by choosing "Setup Budgets" from the "Company" menu.

For QuickBooks 1999:
From the "Activities" menu, choose "Set Up Budgets".

2. Choose the fiscal year, account, customer or job, and/or class that describe your budget and enter them in the appropriate fields.
3. When QuickBooks displays the monthly budget amounts, change the amounts as desired.
4. Click "Save".
5. Continue by choosing another account (or another job or class for the same account), and repeat Step 3 and Step 4 until you have made all the changes to the budget that you need.
6. When you are finished entering all the changes, click "OK".

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Printing Budget Amounts
To see budget amounts, use a "Budget Overview" report.

1. From the "Reports" menu, choose "Budget ".
2. Choose the appropriate overview report, depending on how your budget is set up:
Choose "Profit and Loss Budget Overview" if you would like to see a print out of the Income and Expense accounts budget you have set up.
Choose the "Profit and Loss Budget By Job Overview" report if you would like to see the budget for a particular Customer or Job. Click "Customize" and in the "Columns" field, choose either a date value (like month) or "Total Only," and in the "Rows Axis" field, choose "Customer:Job".
To see a budget by class, choose the "By Job Overview" report and click "Customize". In the "columns field, choose either a date value or "Total Only, and in the "Rows Axis" field, choose "Class".
To see a budget by Customer:Job and Accounts, choose the "By Job Overview". Click "Filter", and choose "Name" in the "Filter" field, then click "OK".
For Balance Sheet accounts, choose "Balance Sheet Overview". This report shows monthly budget amounts for each balance sheet account for which you have entered a budget amount.
For Balance Sheet comparison, choose "Balance Sheet Budget vs. Actual". This report shows monthly budget amounts for each balance sheet account for which you have entered a budget amount. It also shows the actual account balances as of the last day of the month, the difference between your budgeted and actual account balances, and the difference between your budgeted and actual account balances, shown as a percentage of the budgeted amount.
3. Once you have the report that shows the parts of the budget you want to print, click "Print".

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