Hello there, juliehickey.

To show the previous year's data on your 2020 Budget report, you'll want to create a new budget using 2019's actual amounts.

Before creating a new one, you can delete the incorrect budget to avoid duplicates. Here's how:

1. Go to the Company menu.
2. Choose Planning & Budgeting, and then click Set Up Budgets.
3. Click the Budget drop-down list and choose the budget that you want to delete.
4. Go to the Edit menu and click Delete Budget.
5. Click Yes.

For instructions on how to create a budget, please follow the steps below:

1. Go to the Company menu.
2. Select Planning & Budgeting, and then click Set Up Budgets.
3. Click Create New Budget.
4. Choose the fiscal year for the new budget, and choose either Profit and Loss or Balance Sheet accounts.
5. Follow the onscreen instructions. Click Next.
6. Choose the option to Create budget from previous year's actual data.
7. Click Finish.

Learn more about budgeting in QuickBooks Desktop through this useful link: Create a budget or forecast in QuickBooks Desktop.

Let me know if you have other questions. I'm always here to help.

Thank you but I have discovered that the problem is QB can only create a budget from a CLOSED period. So in order to create a budget for 2020 based on 2019 actuals, I have to wait until 2019 is closed. This is what support told me yesterday after a 1 1/2 hour chat session. Sounds dumb, who waits until the year is done to create a budget for next year? Very dumb, one more example that Intuit has no accountants on staff.

Thank you for your response

If you close out to force the budget to work, can you re-open if you have made an error? Does it have to be a hard close? Or is it considered "closed" when you roll into the next year? If it requires a hard close, can you re-open to make tax entries or adjustments?

Yes, you can still open it, StephenMA.

When you close your books, the budget for that period will be close as well. You'll need to set up a password when closing it. 

You can edit and make any changes as long as you know the password. We'll be prompted to enter the password when editing a budget from a closed period.

From the drop-down, we just need to select which period you want to edit.

You'll want to read this article about budget or forecast in QuickBooks Desktop.

I'll be happy to assist you again if you have more questions.

I can't seem to save the "set up forecast" is provides the options but I do not know where to find the saved data?

I’m glad to see you here in the Community, @rainelee.

You’re in the right place to get help finding your saved forecasts. You can find the created forecast in the Forecast Overview under the Reports tab. I'll show you how:

1. Go to the Reports tab
2. Select Budgets & Forecasts and choose Forecast overview.
3. Click Next.
4. On the drop-down arrow, select the report layout.
5. Hit Finish.

You can also customize and memorize your reports in QuickBooks.

Drop a comment below if you have further questions. We got your back.