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sra4763
Level 1

Need budget reports to show prior year fund balances

We're a public library with funds from various sources.  We always have some funds carried over from the prior year to help us through the first quarter. I 'd like to know how to show these funds in the current year budget.

1 Comment 1
RenjolynC
QuickBooks Team

Need budget reports to show prior year fund balances

Welcome to the Community space, sra4763.

 

I'll share a brief detail about the budget report.

 

When recording the budget for the current year, you'll want to select Create budget from scratch. With this option, you have a way to manually enter the funds for each account that you want to track. 

 

Here's how:

 

  1. Go to Company > Planning & Budgeting > Set Up Budgets.
  2. Click 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. Hit Finish.

For reference, you can check out this article: Create a budget or forecast in QuickBooks Desktop.

 

To learn more about the QuickBooks Desktop reports and how you can customize them, please check out these links:

 

If you have more questions related to the reports or need help with other concerns, please feel free to get back to me by leaving a reply on this thread. Take care and stay safe.

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