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W
WG2
April 9, 2020
Question

Budget created with wrong year

  • April 9, 2020
  • 1 reply
  • 3 views

I spent several hours manually entering data to a budget that is for the wrong year.  It is referencing 2021 but the budget is for 2020.

 

Is there a way to change the budget year in QB Desktop Enterprise 18.0?  I really don't want to enter all data from scratch again if at all possible.  Is there a way to copy the budget in desktop QB?

 

 

1 reply

M
mv32
Level 8
April 9, 2020

Welcome to the Community, @WG2.

 

We aren't able to copy the budget that you have entered for 2021 to the budget that you set up for 2020. I suggest manually entering all the budgeted amounts for 2020.

 

Here's how:

  1. Go to the Company menu and then select Planning & Budgeting.
  2. Choose Set up Budgets.
  3. Click Create New Budget.
  4. Choose 2020 for the fiscal year's budget.
  5. Select the prompt options and click Finish.

 

That should get you to the right fiscal year. I've added an article as your reference in planning up budgets or forecasts: Create a budget or forecast in QuickBooks Desktop.

 

Please let me know if you have more questions. I'll be around to help. Stay safe!

G
Grace36
August 9, 2022

Is there anyway to change a budget year in QuickBooks Premier Nonprofit Edition 2021? I entered all the budget and put it in the wrong year. Please help!

MariaSoledadG
MariaSoledadGQuickBooks Team
QuickBooks Team
August 9, 2022

I have an easier way how you can create a budget with the correct year, Grace36.

 

You can create a budget using the previous year's data. This option will copy all the information to the current fiscal year. From there, you'll be able to specify the correct year based on the current year's data. To do this, follow the steps below:

 

  1. Go to the Company menu. 
  2. Select Planning and Budgeting, then choose Set Up Budgets.
  3. Click Create New Budget. 
  4. Specify the correct year, then click Next.
  5. Click Next.
  6. Choose the Create budget from previous year's actual data option.
  7. Click Finish.
  8. Hit OK.

 

Please know that I've based the steps above on a QuickBooks Premier Accountant Desktop 2022 version. However, the two may have slight differences but may have the same options with Nonprofit. This should let you create a budget with the correct year. 

 

Additionally, reports in QuickBooks ensure that data is flowing into the reports correctly. The company file may contain a complex data set and it is important to understand where the reports draw data. For more information on how QuickBooks generates reports, I've got this article for your guide: Understand Reports. 

 

Reach out to us if you have any budgeting concerns. We're here to help you anytime. 

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