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lrhmail451
Level 3

2021 budget

how can i use the current year to do my new budget

 

 

it keeps using 2019 for previous year i need 2020

3 Comments
MaryJoyD
QuickBooks Team

2021 budget

 I can help you create a new budget, @lrhmail451.

 

The year of the data that reflects on the budget setup view depends on the fiscal year set in My Company. You'll want to adjust the year so it'll reflect the 2020 amounts. Here's how:  

  1. Go to the Company menu, then choose My Company.
  2. Click the Pencil icon on the COMPANY INFORMATION section.
  3. Go to the Report Information tab.
  4. Change the first month for the Fiscal Year drop-down menu.
  5. Click OK

You can now recreate the budget with the new fiscal year data:  

  1. Open the Company menu again, then hover on Planning & Budgeting
  2. Select Set Up Budgets.
  3. On the Budget screen, click the Create New Budget button. 

 If you need more help creating budgets, please visit this article: Create a budget or forecast in QuickBooks Desktop.

 

After creating the budget data, you can run the budget reports. Simply click the Reports menu, then hover on Budget & Forecasts. Choose a certain budget report from the next selection. 

 

I'm here to answer any questions with creating budgets and or other QuickBooks Desktop questions you might have. Leave a reply below and I'll get back to you as soon as possible. 

AEG221
Level 1

2021 budget

I tried this solution, and it worked; sort of. When I change the FY back to January the budget went away

JonpriL
Moderator

2021 budget

Hello @robertL,

 

Let me help share information about how you can run a budget forecast easily so you can get back to business in no time.

 

To start with, QuickBooks may have encountered a potential data issue while collecting your report data. We can perform a few troubleshooting steps to get back with your budget. Let me show you how.

 

A. To Verify Data

  1. Go to File.
  2. Click Utilities.
  3. Select Verify Data.
  4. Click OK.

B. To Rebuild Data

  1. Go to File.
  2. Click Utilities.
  3. Select Rebuild Data.
  4. Click OK.

Learn more about the tools with this article: Where to get different QuickBooks Desktop troubleshooting tools?

 

Additionally, I've also included this helpful reference for a compilation of articles you can use for the year-end preparations: How you can prepare for the 2020 tax season?

 

If there's anything else that I can help you with, please let me know by leaving any comments below. I'll be here to lend a hand.

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