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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". |
Back to [ Top ] [ QuickBooks Index ]
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. |
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|
| • |
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". |
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|
| • |
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". |
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|
| • |
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". |
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|
| • |
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. |
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|
| • |
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. |
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| 3. |
Once
you have the report that shows the parts of the
budget you want to print, click "Print". |
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