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jbroth6689
Level 1

Budget

I created a new budget for a new client and the budget has the wrong fiscal year. What did I do wrong?

4 Comments
Kristine Mae
QuickBooks Team

Budget

Good day, Jbroth6689.

 

Let's have a quick run through on the fiscal year that was set up in QuickBooks. This can be the reason why the budget has an incorrect year. 

 

Please follow these steps:

  1. Click Company.
  2. Choose My Company.
  3. Click the Pencil icon in the COMPANY INFORMATION box.
  4. Go to the Report Information tab, then make sure the Fiscal Year is correct.
  5. Click OK.

Once done checking, create a new budget

 

You can always leave a comment below if you need further help. 

melliard
Level 1

Budget

My company has the correct fiscal year.  Does the year have to be closed in order for it to pull from the prior year?  I want to prepare a budget beginning 10-1-19 but it is pull the 17-18 actual numbers into the budget.

melliard
Level 1

Budget

jbroth,  did you figure it out?  the budget and the wrong fiscal year?

Catherine_B
QuickBooks Team

Budget

Closing the year won't matter in pulling up prior years' budget, melliard.

 

When you enter transactions within the fiscal year, then create a budget, the actuals will remain untouched. Even if you added or modified a few transactions, QuickBooks won't retroact. 

 

We can pull up the Profit & Loss Standard report as our basis in preparing the new budget for the next fiscal year. Here's how: 

  1. Go to the Reports menu. 
  2. Select Company & Financial
  3. Click Profit & Loss Standard
  4. Filter the Date and then Refresh

Afterwards, create a new budget and choose the Fiscal Year. Then, Clear the field and enter the amounts from the report. 

 

If you have further questions, please let me know. I'll be here to help! 

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