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LoriAnn64
Level 1

Budget

We are a non-profit organization that does EMS work.  We use QB mainly as a checkbook to track income and expenses.  For 2020 we decided to start using the budget function.  However, some of the payments we made in January are really not part of the 2020 budget.  These were expenses that were approved in 2019 and we do not want them to go against the 2020 budget.  How can I make it so that these transactions don't show up on budget reporting or affect the amounts we put in the 2020 budget.  Any help is GREATLY appreciated.

1 Comment 1
Michelle_b
QuickBooks Team

Budget

Hi, @LoriAnn64.

 

Thank you for posting here in the Community. I want to make sure that you can create a budget with accurate transactions.

 

All you need to do is create a budget from scratch. This way, you can choose what transactions you want to record in the budget window. 

 

Here's how: 

 

1. Go to Company at the top menu, then pick Planning & Budgeting.

2. Choose Set Up Budgets, then click Create New Budget.

4. Specify the budget year, and then choose between Profit and Loss and Balance Sheet.

5. For the Profit and Loss Budget, define additional criteria of either Customer: Job or Class, if class tracking is turned on.

6. Select Create a budget from scratch for Profit and Loss Budget.

7. Hit Finish. 

 

You may check out this article for more information about budgeting in QuickBooks Desktop: Create a budget or forecast in QuickBooks Desktop.

 

All the lines showing on the budget page will depend on your Chart of Account (COA). To learn more about how to add a line in your budget, please visit this article: Create, edit, or delete an account. 

 

If you have follow up questions, please let me know by leaving a comment below. I'll be glad to check on them for you. Have a good one! 

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