Budget vs Actual at Class level

[Dawn18]

We developed our budgets at the class level in order to track depts.  We have the corresponding classes on the expense and revenue transactions .   How can we generate a "budget vs. actual" for each class?

[IamjuViel]

Delighted to have you here, @Dawn18.

I'd be pleased to help walk you through creating a Budget vs. Actual report by class. 

With QuickBooks Desktop, you have the ability to customize and filter your reports to suit your business needs. Since you've already created budget per class level, here's how to run the report:

1. Go to Reports.
2. Select Reports Center.
3. Choose Budgets & Forecast section. 
4. Click Budget vs. Actual report to run. 
5. Select Profit & Loss by Class, then click Next.
6. Under report layout, choose Account by Class, then click Next.
7. Click Finish.

That should do it! This will get you on the right track generating a Budget vs Actual by Class report.

If there are any features you'd like to learn more, our Community articles can come in handy. 

[Nona]

New to QuickBooks Online - I have reviewed the steps posted to run a Budget vs Actual by class, but after selecting budget vs actual report to run, I do not see the option to select P&L Class Report by class.  What am I missing?

Thanks

[Joyce_P]

Hi there, Nona.

The steps that my colleague provided above is intended for QuickBooks Desktop. I'll walk you through on how to run a Budget vs Actual report by class in QuickBooks Online.

First, let's turn on your class tracking menu. Here's how: 

1. Go to the Gear  icon.
2. Click Account and Settings.
3. Select Advanced.
4. Turn on the Track class menu in the Categories section.

Then, let's make sure to add subdivided budget for class.

Here's how: 

1. Go to the Gear icon.
2. Click Budgeting.
3. In the Add Subdivided for field, choose Class.

Then, go back to Reports and run the Budget vs. Actual report.

Also, you can run the Profit & Loss by Class report separately. Just enter Profit and Loss by class in the Search field.

Please get back to us if you need more help. 

[jbaxter-uvacswim]

I have QuickBooks Advanced Online and I don't see the field you mention in #3 about add Subdivide:

1. In the Add Subdivided for field, choose Class.

I would like to run budget to actual reports by Class and using QuickBooks Online Advanced. Can you explain what I am doing wrong?

Jennifer

[Angelyn_T]

Hi there, @jbaxter-uvacswim.

The Add Subdivided for field is available when creating a new budget in QuickBooks Online. From the Gear icon as instructed by Joyce_P, select Budgeting, then click on the Add budget button. From there, you'll be able to set up a budget subdivided by class.

I'm adding these screenshots for your visual references.

If you don't see the option to subdivide your budget by class, please make sure to sign in to QuickBooks as a master administrator or as a user with permission to access, create, or delete budgets to avoid feature restrictions. Otherwise, you can perform the browser troubleshooting steps to isolate the issue.

First, create a new budget through a private window. To save you time, use either of these keyboard shortcuts:

• Google Chrome: Ctrl + Shift + N
• Safari 11 or newer: ⌘ + Shift + N
• Mozilla Firefox: Ctrl + Shift + P
• Microsoft Edge: Ctrl + Shift + P

If it works fine, go back to your original browser and clear its cache to start fresh. You can also use another supported and up-to-date browser to narrow down the result.

To learn more about getting your budgets in QuickBooks, you can open this article: Create and import budgets into QuickBooks Online.

On the other hand, there are special budget reports that help you keep track of your budget goals. From the Reports tab, you can either pull up the Run Budget Overview or Run Budgets vs. Actuals report. I'm adding this for more tips about running your reports in QBO: Run reports in QuickBooks Online.

Please feel free to get back to me here for any additional questions about your budgets. I always have your back. Have a good one!

[jbaxter-uvacswim]

Thank you so much. What if the budget was already keyed before realizing I needed to do this subdivide by class step? Can I still edit the existing FY budget that is already keyed?

[Candice C]

Good evening, @jbaxter-uvacswim. 

Thanks for reaching back out to the Community. I hope your day is going well so far. 

Yes, you can edit the previously made budget. Here's a guide that can provide some additional information: Manage Budgets. 

Feel free to come back and ask us other questions if need be. We're always here to lend a helping hand. Take care! 

[jbaxter-uvacswim]

Hi Candice,

the link doesn't work.

Jennifer

[MariaSoledadG]

Let me guide you on how you can edit the existing budget, jbaxter-uvacswim.

Creating a budget is so simple in QuickBooks Online. If you have already entered one and wants to edit it, follow the steps provided below: 

1. Go to the Gear icon ⚙ and select Budgeting.
2. Find your budget on the list.
3. Select Edit.
4. Edit each account one month at a time.
5. To change the time period from month-to-month to quarterly or yearly, select Gear ⚙ icon at the top of the budget. Then select Quarter or Year.
6. Click Save or Save and close.

You can also check out this article for more information: Create And Import Budgets Into QuickBooks Online. Moreover, you can also get some information you need so you'll know your business standing. I've added this article in case you want to know more: Run Reports In QuickBooks Online. 

Please get back to us if you need anything else about the budget. Remember, we're here to help you all the time. 

[jbaxter-uvacswim]

Maria,

I am trying to enable my already keyed FY22 budget to allow me to run actual expense to budget by class. Any ideas?

[JessT]

Hi jbaxter-uvacswim,

Thanks for following up on this. I'd like to clear this up for you.

As of the moment, we're unable to sub-divide a saved budget anymore. Therefore, your option is to recreate the budget you've made and delete the original one after.

If you have other concerns, feel free to go back to this thread.

[tosutherland]

The link in your answer to how to create a budget by class doesn't tell you how to create a budget by class!  I am unable to do this in QB Desktop Premiere Plus Edition 2022.  When I select create a new budget, the year, and the additional criteria ("Class"), it says "FY2021-22 Profit and Loss by Account and Class," but there is no dropdown menu to select "class."  How do I enter budget by account AND class in QB Desktop Premiere Plus Edition 2022?

[RenjolynC]

Thanks for joining in on this thread, tosutherland.

Let me share some additional info about the process.

If you've already created the budget from the Company > Planning & Budgeting page, we can filter the classes in your report.

Here's how:

1. Go to Reports > Budgets & Forecasts > Budget Overview.
2. Choose the budget from the Select the budget to use when generating the budget report drop-down menu.
3. Click Next and from the Select a report layout for the budget report drop-down list, choose Account by Class.
4. Hit Next and then Finish. 
5. In the Profit & Loss Budget Overview report window, click the Customize Report button located in the upper right-hand corner.
6. Go to Filters and type Class in the search field.
7. From the Class drop-down menu, select the classes you want to view. 
8. Click OK once done. 

After the steps, review the report and check if you have the correct information.

I'd also like to re-share this article for reference about the budget and forecast: Create a budget or forecast in QuickBooks Desktop.

To learn more about the different reports in QuickBooks Desktop and how you can customize them, you can check out these guides:

• Understand reports
• Customize reports in QuickBooks Desktop

Please feel free to reach out to me again if you have more questions regarding the steps I've shared. I'll be right here to help you out again. Take care!

[tosutherland]

Thank you. I followed all 5 steps in the article you referenced, Create a Budget or Forecast in Quickbooks  Desktop. I added “Class” as a criteria. After clicking “Finish,” it takes me to a screen to enter the budget numbers, but they are by account, not class, even though QB naked the budget “FY2021-22 Profit and Loss by Account and Class.” So I still can’t enter the budget by account AND class. Thank you for responding. 

[GlinetteC]

Thanks for getting back to us, tosutherland.

In QuickBooks Desktop, you can only add 1 class per budget. As a workaround, export the budget report. From there, enter the class manually.

Here's how: 

1. Go to the Reports menu and select Reports Center.
2. Find and open the report.
3. Select the Excel on the toolbar. 
4. To create a new Excel workbook, select Create New Worksheet. If you want to update an existing workbook with the data in the open report, select Update Existing Worksheet. Select Browse and then find the workbook on your computer. Keep in mind, this overwrites the existing workbook.
5. If you want to format the data a specific way, select Advanced. This is optional.
6. Select OK. 

Please know that I'm only a post away if there's anything else I can help you with.

[Proyatwork]

Was the feature to enter Budgets by Class deleted for QuickBooks Desktop? The report is showing up as an option, but the drop down for the classes is gone.

[Tori B]

Hi there, @Proyatwork.

The option to customize the budget report by class has not been deleted. Since you're not seeing this option, let's try some basic troubleshooting steps. Such as repairing QuickBooks. 

Download the QuickBooks Tool Hub:

1. Close QuickBooks.
2. Download the most recent version (1.5.0.0) of the QuickBooks Tool Hub. Save the file somewhere you can easily find it (like your Downloads folder or your Windows desktop). 
3. Open the file you downloaded (QuickBooksToolHub.exe).
4. Follow the on-screen steps to install and agree to the terms and conditions.
5. When the install finishes, double-click the icon on your Windows desktop to open the tool hub.

Run a repair on QuickBooks:

1. In the QuickBooks Tool Hub, select Program Problems.
2. Click on Quick Fix my Program.
3. Start QuickBooks Desktop and open your data file. 

For additional details about basic troubleshooting in QuickBooks Desktop, check out Repair your QuickBooks Desktop.

I'm also including our help article about Customizing Reports should you need it for future references. 

Please let me know how it goes. I'll be right here if you have any questions or concerns. Take care!

[Dexx]

What if we want to add budget every now and then for new projects, do we just edit the budget every time we have new project?

[Jovychris_A]

Hi @Dexx.

I appreciate you've come to the Community to learn more about managing budgets, especially in adding a new project budget.

You'll have to add a budget each time there's a new project since we're unable to edit the previous budget that you created in QuickBooks Desktop (QBDT). I acknowledge that having this feature flexibility can boost your experience while using this functionality with budget planning.

I'd also like you to experience this ability. In this case, I suggest sending feedback online. This way, our product engineers will know that this is crucial when adding new projects to your business budget. There will be a greater chance of having this feature when a vast number of users request it.

Here's how to submit a suggestion:

1. Go to Help and then select Send Feedback Online.
2. Choose Product Suggestion.
3. Choose a Type of Feedback and Product Area (optional) from your drop-down menus.
4. Enter any suggestions/feedback in the Here is my suggestion: field.
5. If you'd like, include your name/email in the My name is: (optional) and My e-mail address is: (optional) fields.
6. Select Send Feedback.

If you're using QuickBooks Online (QBO), you can manage to add project budgets for new projects. I suggest allocating a new project budget since we can't add a new project to the previous budget plan though we can edit budget plans. Here's how to add a new project budget:

1. In QuickBooks Online, click the Gear icon.
2. Select Budgeting.
3. Click Create new (for a new project).
4. Tick the Subdivided budget radio button.
5. Select Customers from the Subdivide by drop-down.
6. From the Add subdivided budget for field, select the new project.
7. Hit Next.
8. Enter amounts on specific accounts you checked.
9. Hit Save.

Please check this article for more details about budget planning management for each QuickBooks version:

Create a budget or forecast in QuickBooks Desktop.

Create budgets in QuickBooks Online (It contains how to edit a period's budget).

You'll want to see your budget planning overview and actuals, you can go to the Reports menu and select Budgets & Forecasts (QBDT). In QBO, this data can be found when either using Search icon and typing Budget to select Overview or Budget vs. Actuals or go to the Reports menu and see it under the Standard tab's Business overview.

Please comment if you need more information about budget planning navigation. Anytime I can help. Take care and stay healthy.