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tasiabarnard
Level 3

Profit and Loss Budget vs Actual Report

I have to run a profit and loss budget vs actual report broken down by class. However, I cannot get the information to populate correctly. 

 

I've tried doing a Profit & Loss % of Total Income which allows me to break it down by class, however it says I've used 100% of my funding for a $300 charge, yet it's actually only 1.2%. 

I tried doing a Budget vs Actual report, but it will not allow me to break it down by class, therefore my numbers are completely wrong. 

 

I tried doing Profit and Loss by Class, but again, it shows I've used 100% of my funding for that class when it's only 1.2%.

 

When I run the memorized report in QuickBooks desktop, it's correct. What am I doing wrong in the online version? I need to know the following information from the report: Budget Term, Budget, $ Over Budget, % of Budget.

6 Comments 6
MaryLandT
QuickBooks Team

Profit and Loss Budget vs Actual Report

Hello there, @tasiabarnard,

 

You can pull up the Budget vs Actual report to see the exact amount and percentage of your budget. Just make sure to filter its date range and classes.  

 

Let me guide you through on how to accomplish this:

  1. Select Reports from the left menu.
  2. Open the Budget vs Actual report.
  3. Customize the Report period (for example by month). reportperiod.PNG
  4. Click Customize.
  5. Go to the Filter section.
  6. Put a check mark on the Class box, then select the desired class for this report. class.PNG
  7. Click Run reportbudgetvsactuals.PNG

That will point you on the right track to see the budget term, budget, $ over budget, and % of budget on the report.

 

Let me know if there's anything I can help you with navigating your budget reports in QuickBooks. Just leave a comment below and I'd be glad to help.

tasiabarnard
Level 3

Profit and Loss Budget vs Actual Report

That doesn't include profit and loss.

tasiabarnard
Level 3

Profit and Loss Budget vs Actual Report

Budget Vs Actuals report doesn't allow for customization to include classes.

PreciousB
Moderator

Profit and Loss Budget vs Actual Report

Thanks for getting back to us, tasiabarnard.

 

I'll join this thread to help make sure the Budget vs. Actuals report calculates the correct percentage of budget.

 

When creating a budget, you have the option to subdivide it by class. Once you run the Budget vs. Actuals report, it will automatically show the classes as columns.

 

Here's how:

  1. Choose the Gear icon, then choose Budgeting.
  2. Click the Add Budget button.
  3. Under Subdivide by section, select Class.
  4. Enter the needed details.
  5. Click Next, then Save.

image.png

 

As for your main concern, I've tried running this report on my end and got an accurate calculation of my % of Budget. To fix this, let's try these troubleshooting. The first step I recommend is using your browser's incognito feature. This feature doesn't use the existing cache files, which makes it a good place to test if there's an issue with the browser.

Here's how:

  • Press the Ctrl Shift N (Google Chrome) keys on your keyboard.
  • Press the Ctrl Shift P (Firefox or Internet Explorer) keys on your keyboard.
  • Press Control Option (Safari) keys on your keyboard.

If the percentages are correct, then we can clear your browser's cache data storage. For instructions on each browser, check out this article: Clear temporary internet files and cache.

 

I'll share this article too for reference: How to create, edit, and manage budgets.

 

That should get you on the right track. Please let me know how that works for you. I'm here provide you additional assistance if you need anything else. Have a good one.

tasiabarnard
Level 3

Profit and Loss Budget vs Actual Report

It doesn't give me the option to subdivide and I've looked on both the app and each browser--same result.

PreciousB
Moderator

Profit and Loss Budget vs Actual Report

Thank you for sharing the steps you've tried, tasiabarnard.

 

I can help ensure you can subdivide the budget report.

 

As long as the categories feature is turned on, you should be able to subdivide the budget. Let's go to the Accounts and Settings, then review the class section. Let me show you how:

  1. Click the Gear icon, then choose Account and Settings.
  2. Select the Advanced tab on the left.
  3. Choose the Categories section.
  4. Make sure the Track classes box is checked (refer to the first screenshot).
  5. Select Save, then Done.

image.png

 

Once done, try creating a new budget (please follow the steps I've laid out above). If the option to subdivide a budget is still missing and the calculation for percent of the budget is incorrect, please reach out to our QuickBooks Online Support Team. They have the resources and tools such as screen-sharing to help you investigate this further.

 

Here's how:

  1. Select the Help icon in the upper right of the screen.
  2. Choose Contact us on the pop-up. 
  3. Enter a topic in the How can we help? field (ex. support) and choose Continue
  4. Click Get our phone number.
  5. Enter your contact information.
  6. Click Call me.

The screenshot below shows these steps.

 

image.png
 

Here's an article that may come handy: How to customize reports.

 

The information above should help you get pointed in the right direction.

 

Let's still give this a try, and see if the steps above will work. I'd like to make sure that you're able to resolve this concern, so please let me know how it goes by posting a comment below. Best regards.

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