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Level 1

Can I set up budgets based on a percentage of income?

I would like to have my budgets based on a percentage of income rather than a set dollar amount.
2 Comments
QuickBooks Team

Can I set up budgets based on a percentage of income?

Hello there, @info-honeycombco.

 

Thank you for reaching out to us here on the Community page. I can share with you some insights about setting up budgets in QuickBooks Online.

 

QuickBooks Online (QBO) supports preparing budgets which help you monitor, track and compare expected income and expenses with actual income and expenses. You can as well opt to subdivide it based on customer, location, or class.

 

Setting a percentage of income on your budget is currently unavailable. You need to input a dollar amount each month for the whole fiscal year. If you want to view the percentage of the budget, you can open the Budget vs. Actuals report, then go over to the % Of Budget column.

 

Here's how:

 

  1. Open your QBO account, then look for the report on the search field.
  2. Click on it to open.
  3. Customize the report, then review the details under the % Of Budget column.

To learn more about creating budgets and using them to track your actual sales and expenses, open this article.

 

Also, you can check out this link for an additional guide about running and customizing reports: Run reports in QuickBooks Online.

 

Please let me know if you need further assistance with this. I've got your back and am always happy to help. Thanks for reaching out, wishing you and your business all the best.

Level 1

Can I set up budgets based on a percentage of income?

On desktop version we could edit the rows by either a % or $ amount. This was a huge time saver... We have seasonal variations so we don't want a flat number across the row. For a particular item we would, for example, desire to increase revenue by 5% for sales over last years amounts in each month. I don't see this feature at all in QBO. Is it there? Somewhere? 

Buck A.

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