16 Nov Budget Data Overview
Budget Data Overview
Annual budgeting in QuickBooks can be an easy way to compare actual results with the plan. The budget can be entered by account, customer:job, or class. You can enter an amount for two of the three, but you cannot enter a budget for all three at the same time. Once you enter the budget for the first month, the amounts can be calculated and filled in by the software for the remaining months by either 0% change (flat budget for the year), a percentage increase/decease, or a dollar amount increase/decrease.
Prior to setting up the budgets, consider which reports will be most important to ensure that the data is entered correctly when creating the budget figures in the software. For example, if the report to be created is the Profit and Loss Budget versus Actual report by time period, you must set up the budget figures without a customer:job or class.