How do I add a column to the Profit and Loss by Month Report that shows the annual budget?

It is not possible to add an annual budget column directly to the Profit and Loss by Month Report, Angie. However, you can run the Budget vs. Actual Profit and Loss Report as an alternative.

In QuickBooks Online (QBO), the Profit and Loss by Month Report is preset with a specific format in the software. It is designed to display monthly data only.

While you can't add an annual budget to the Profit and Loss by Month Report, you can still work with your budget by using the Budget vs. Actual Profit and Loss Report to compare your actuals against your annual budget. This report provides insights for budget analysis on a monthly, quarterly, or yearly basis.

To Create or Set Up Your Budget:

1. Go to the Gear icon.
2. Choose Budgeting under the Tools column.
3. Set up your budget period, then hit Next.
4. In the upper right corner of the report, select Monthly.
5. Create the budget by specifying the year, months, and accounts.
6. Click the Pencil icon to set your own name for your report (Optional).
7. Select "Save" or "Save and Close" from the dropdown menu.
   
   
   

To view your Budget vs. Actual Profit and Loss Report:

1. Go to Reports.
2. Type "budget" in the search bar, then select the Budget vs. Actuals report.
   
   
   
   
3. Select Customize on the upper right portion of the report to display your reference.
4. Hit Run Report.
5. Then, Save.

Slide to the right to view the total annual budget.

To include all accounts in the report, even those without a budget allocation, set Rows and Columns under Show non-zero or active only to All.

You can save, export, or further customize this report to suit your analysis needs.

By using the Budget vs. Actual Profit and Loss Report, you can achieve efficient budget analysis, even with the software's reporting limitations.

Please let us know in the comment section below if you have any additional questions. We'll always have your back.