Budget created with wrong year

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!

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!

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. 

Hello,

I created a budget but later realised it was the wrong year - 2024 instead of 2023. Is there a way the year can be changed to 2023 or the budget be copied from 2024 to 2023 budget?

Esther

I appreciate you taking the time to raise your concern here in the Community, @EM94.

I'm here to ensure that you'll get to have an easy way out to change your budget year in QuickBooks Desktop (QBDT). The data from the prior year can be used to create a budget. This option will copy all the data to the current fiscal year. You can then choose the appropriate year based on the data for the current year. 

Here's how:
 

1. In your QBDT file, go to the Company menu.
2. Select Planning and Budgeting, then choose Set Up Budgets.
3. Click on Create New Budget.
4. Choose the correct year, then click on Next.
5. Select Next.
6. Select the Create budget from previous year's actual data option.
7. Once done, click on Finish.
8. Select OK.

Moreover, I'll also share this article that can serve as your reference to know a wide variety of built-in financial reports that provide different perspectives on how your business is doing: Customize company and financial reports.

I'm looking forward to getting this resolved. Feel free to leave a reply if you require further assistance with changing your budget year. The Community team always has your back. Have a good one.

Thanks for your response. However, what i want to do is to get the budget posted to 2024 into 2023, not fron a previous year. is this possible?

This "Select the Create budget from previous year's actual data option" brings the budget from 2022, not the one i put in 2024.

 I'm here to share some details about creating budgets, EM94.

QuickBooks Desktop only allows us to use and create a budget from the previous year's data. Currently, we're unable to use the data made in recent years. As a workaround, I recommend manually adding the budget you created in 2024 to your 2023's data.

I know this functionality to copy your recent budget to the previous one would be beneficial to your business. I'd recommend sending feedback directly to our Product Development team. Doing so helps us improve your experience and the features of the program. 

Here's how:

1. Go to the Help menu and then select Send Feedback Online.
2. Choose Product Suggestion.
3. Add the type of feedback.
4. Type in your feature suggestion.
5. Once done, click Send Feedback.

For your visual reference, I've attached some screenshots below.

If you need help running reports or creating your budgets, please see these articles:

• Understand Reports
• Create a Budget or Forecast in QuickBooks Desktop

Additionally, I've added this article that'll help you review your QuickBooks accounts to ensure they match your real-life bank and credit card statements. Reconcile an Account in QuickBooks Desktop.

Please keep us posted if you have more questions about managing your budget or running other reports. I'm always here to help you out. 

I did the same thing, it is currently in 2024-25 and I need  it  in 2023-24. Is there any way to make this change without having to totally reenter everything? 

I understand how time-consuming it is to re-enter the budget manually, Wow4.

Every business has unique needs, and I see how your desired feature would benefit and strengthen your organization. 

You'll want to submit additional feedback to let our developers know how this functionality can improve your company's needs so they can consider including it in future product enhancements. Please refer to the steps provided above on how to submit feedback.

As a workaround, you can delete and recreate your budget with the correct fiscal year.

For more details on creating a budget, check this article: Create a budget or forecast in QuickBooks Desktop.

Additionally, you can visit our QuickBooks Help page. We've collated resources to help you with other tasks.

If you have other concerns about managing your account, let me know. I'm just a post away. Take care!