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Budget Income and expenses

Hello all, I have certain grants that I add Income and Expense lines. When I receive the Income - say $1,000. Do I also have to add this amount manually to the budget line of Expenses for it to show up? It's not automatic? Thanks! John

Solved
Best answer 08-01-2019

Accepted Solutions
QuickBooks Team

Re: Budget Income and expenses

Hello @JJesen,

 

Welcome to the Community.

 

Yes, you can enter amount manually to the income and expenses so you can trace the budget. The use of the Budget in QuickBooks Desktop is to track income and expenses of the current fiscal year.

 

Here's how:


1. Go to Company, then select Planning and Budgeting.
2. Choose Create New Budget.
3. Select between Profit and Loss and Balance Sheet.
4. Specify an additional criteria of either Customer:Job or Class (if class tracking is on).
5. Choose Create budget from scratch then enter the amounts manually for each account that you want to track.

6. Click Finish.

 

You can read through this article for the detailed steps to setting up your budget: Create a budget or forecast in QuickBooks Desktop.

 

For future reference, please read this article about customization of the reports: Create, Access and Modify Memorized reports.

 

Please feel free to message us if you have other questions and concerns. We are always happy to help you.

1 Comment
QuickBooks Team

Re: Budget Income and expenses

Hello @JJesen,

 

Welcome to the Community.

 

Yes, you can enter amount manually to the income and expenses so you can trace the budget. The use of the Budget in QuickBooks Desktop is to track income and expenses of the current fiscal year.

 

Here's how:


1. Go to Company, then select Planning and Budgeting.
2. Choose Create New Budget.
3. Select between Profit and Loss and Balance Sheet.
4. Specify an additional criteria of either Customer:Job or Class (if class tracking is on).
5. Choose Create budget from scratch then enter the amounts manually for each account that you want to track.

6. Click Finish.

 

You can read through this article for the detailed steps to setting up your budget: Create a budget or forecast in QuickBooks Desktop.

 

For future reference, please read this article about customization of the reports: Create, Access and Modify Memorized reports.

 

Please feel free to message us if you have other questions and concerns. We are always happy to help you.