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Level 1

How/where do I record "Loss from sale of a business" on my books?

1 Comment
QuickBooks Team

How/where do I record "Loss from sale of a business" on my books?

Hi robertj1,


You'll want to create a budget in QuickBooks Online (QBO) so you can record loss from business sale.


Here's how: 

  1. Click the Gear icon, then select Budgeting.
  2. Click Add budget.
  3. Enter a budget name in the Name field.
  4. From the Financial Year drop-down, select the financial year for the budget.
  5. Use the Interval drop-down to specify whether the budget is MonthlyQuarterly, or Yearly.
  6. From the Pre-fill data drop-down list, you can choose to automatically enter data from the current or previous year into the budget, and specify the year to use. This is optional.
  7. From the Subdivide by drop-down▼, you can split the budget by Class, Customer, or Location. Then specify which class, customer, or location to add to the budget. This is optional. Note: If you don't see Class or Location options, those settings are not turned on.
  8. Select Open and Click Next.
  9. Click Save or Save and close.

For your reference, you can check out this article for your guide: Create and import budgets into QuickBooks Online Advanced.


If you have any questions regarding QuickBooks, plese let me know so I can get back to you.

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