I can provide you with more information about running the report that you need, @jennso98.
While QuickBooks Online doesn't directly automate the calculation of averages from prior years' data within the budget tool itself, exporting relevant reports to Excel and performing calculations there provides a practical workaround.
To begin, you can export the report that includes the data you need to calculate averages from prior years. You may consider running reports such as Profit and Loss, Balance Sheet, or Custom Transaction Detail reports. Customize the report's date range to include the data from the prior years you want to average. Once done, export the report to Excel, and it will allow you to perform calculations, including averaging the data from prior years.
Here's how to run a report and export the report to Excel:
- Go to the Reports menu and use the Find report by name search bar to search for reports by name.
- Click the report to open it.
- After customizing the report, select the Export icon to Export to Excel.
Here's more information about running reports in QuickBooks Online to print, email, and export.
Then, refer to this article for more information about creating different types of budgets: Create budgets in QuickBooks Online. It also explains how to edit and delete budgets, as well as how to run budget reports to track budget goals.
From here, proceed to this article that provides a comprehensive guide to customizing and managing financial reports in QuickBooks that describes how to run a report, customize it according to your preferences, save it as a custom report, and manage and automate it. It also explains how to share custom reports in PDF or Excel format with your team members: Customize reports in QuickBooks Online.
If you need further assistance with generating reports or anything else, feel free to post your question in the Community, and I'll be happy to provide additional guidance. Have a great day!
