Creating a budget using yearly totals versus monthly

Yes, you can. See the snapshot

When creating budget there is an option to switch budget from monthly to Quarterly or Yearly.

Click Yearly and enter single column yearly values.

Thank you for responding.  Is this only available in QB online?  We are using the desktop version, and I don't see that option. 

Based on the screenshot you've provided, you're on the right path of creating a budget using yearly totals versus monthly in QuickBooks Desktop (QBDT), RADZS01. I'd be glad to guide you on how to proceed and successfully accomplish this task.

Before you create a budget, make sure your fiscal year is correct. Below are the steps outlined to help you through this process.

1. Hover to the Company menu and select Planning and Budget.
2. Choose Set up Budgets, then click Create New Budget at the upper right-hand corner.
3. Use the arrow to specify the year and type for the new budget. Under Choose the budget type, pick Profit and Loss (reflects all activity for the year), and then click on Next.
4. Select whether you have Additional Profit and Loss Budget Criteria, and click Next.
5. Click Finish.
6. Under the Budget drop-down, choose what fiscal year report to pull up, then select OK.

Moreover, you might want to tailor your report to display specific information that you require, feel free to visit this reference for guidance: Customize reports in QuickBooks Desktop.

If you have further concerns about budgets, the Community is only a few clicks away to assist you.

Hello Louise 

I don't have the drop-down options you mentioned. 

Thank you,

Sue 

Hello RADZS01,

Thank you for sharing the screenshot. Just to clarify, are you referring to Step 6 in the directions my colleague mentioned? If so, you are using the correct drop-down option. You would have to select which year based on the data you entered before and hit OK. 

Please let me know if it's something else. I look forward to your response! Take care. 

Hi - I don't have the drop-down options you are referring too.  Can you send me a screen shot of your QB please. 

Thanks for getting back, RADZS01. To clarify your inquiry, are you specifically referring to the dropdown arrow located in Step 6, as mentioned by my colleague in the previous message?

If that's the case, I want to reassure you that you are on the right track. The dropdown arrow serves a crucial function, allowing you to select the specific year of the budget that you wish to view. This feature is designed to facilitate easier navigation through the various budget years, ensuring that you can access the information you need quickly and efficiently.

For your convenience, I have included a reference photo below that illustrates the dropdown arrow in question. This should help you identify it more easily

For detailed information about setting up budget in QuickBooks Desktop, feel free to visit this article: Create a budget or forecast in QuickBooks Desktop.

Please remember that our team stands ready to support you with any QuickBooks concerns, RADZS01. Feel free to reach out any time by commenting below, day or night, as we offer 24/7 assistance. Your success in managing your annual budget is our priority, and we're always here to help.

Hi I am having the same issue.  The screenshot above allows me to create a 2025 budget by MONTH.  I have been looking for a way to edit the budget so that I only need to set up quarterly amounts, not monthly.  Is there a way to do this?  I have looked all over the internet and the article you linked to, and it does not mention how to edit the budget so that it only needs estimates input for the quarter or annually, it will only produce a budget that requires me to input monthly amounts. Thank you!

Hello there, tschatz. Let's submit this request to our engineering team.

At the moment, there isn’t an option to edit the budget report to display quarterly amounts. I recommend providing feedback directly to our product engineers so they can consider this feature for future updates.

Here's how to send your request:

1. Go to Help and select Send Feedback Online.
2. Choose Product Suggestion.
3. In the Here is my suggestion field, enter your feedback about adding the option to display quarterly amounts.
4. Fill in the necessary details.
5. Once done, click Send Feedback.

Additionally, you can memorize your reports to save your current customization for future use.

Please let us know if you have other concerns with the budget feature of QBDT, tschatz. We're here to help you in any way we can.

The snapshot you attached, I believe, is only for Online Versions of Quickbooks.  When you setup a Desktop budget, the "Yearly", Monthly" or "Quarterly" options are not there to select.  Can you setup an Annual Budget instead of a monthly total budget in Desktop.

Yes, we can, DWC Treas. I can help you create an annual budget in QuickBooks Desktop (QBDT) by providing the details below.

Creating an annual budget in QBDT allows you to start from scratch for next year's budget or use last year's Profit and Loss data as a basis. Here's how:

1. Go to the Company menu and hover over Planning & Budgeting. Then select Set Up Budgets.
2. Tick Create New Budget.
3. Set the fiscal year for the budget, then choose either Profit and Loss and Balance Sheet. Then select Next. If you select Profit and Loss, you can add additional criteria, such as Jobs or Class tracking.
4. If you select Profit and Loss, select either Create budget from scratch or Create budget from the previous year's actual data.
5. Click Finish.

I'll be adding this handy resource that contains information on making a forecast: Create a budget or forecast in QuickBooks Desktop

Feel free to post anytime if you have questions about budgets and forecasts or want to share your best practices using the product. Please know the Community has your back, DWC Treas.