Budget by class and location

Good day, jessicap3.

Glad to have you here in the QuickBooks Community. Allow me to share some information about Budgeting in QuickBooks Online.

As of this time, you can create a budget subdivided by Class, Customer or Location in your QBO Plus account.  If you wish to split a budget by both Class and Location, I’d recommend sending a product request to our developer for future enhancements.

To send this suggestion, click the Gear icon at the top and select Feedback. You can also submit your request via this link: https://feedback.qbo.intuit.com/forums/168199.

For more information on how to create budgets and how budgeting works, you may take a look at this article: https://quickbooks.intuit.com/community/Income-and-expenses/How-to-create-budgets-and-how-does-budge....

Should there be anything else you need from me, feel free to reach out. I’ll be around to help. Wishing you the best!

Is there any difference between budgeting by location or class? Is the reporting the same?

I'm glad you came to the Community with your concern, Paul Cutler.

In QuickBooks Online, Location Tracking and Class Tracking lets you track your income and expenses. You can use either one or both of them.

Classes represent meaningful segments in your company, like store departments or product lines. Location, on the other hand, is used to define the locations of different stores. 

Check out this article about setting budgets per class: Set budget targets for each class.

Here's an article to learn more about how the budget works in QuickBooks Online (QBO):

• How to Create, Edit, and Manage Budgets.
• Using Classes and Locations in QuickBooks Online.

You might also want to check out our Help Articles to help you with the tasks and tips when using QBO.

I'll keep an eye out for your response. Any additional information will do. Take care and have a good one!

QBO Experts - Has this been updated for budgeting by class and location?  I need to drill down each class and location for a budget, but I'm not sure if this is something that is created of not?

Hi, finance-woodland.

I'm here to share some information about running data for budget and location.

As of now, the option to run a budget report by class and location is still unavailable in QuickBooks.

What you can do for now is run the data individually. Then, you can export them to an Excel file to combine the reports.

Here's an article to learn more about how the budget works in QuickBooks Online :

• How to Create, Edit, and Manage Budgets
• Using Classes and Locations in QuickBooks Online

I'll be around whenever you have questions about reports.

Hello All,

Having a budget that can drill down to location and class would be extremely helpful. As my company grows I need a budgeting model that can track multiple locations and within each location separate classes (departments).

Exporting information to excel is an additional manual process that is too time consuming. Its better to have QBO build this into the software. I hope to see this soon.

Best,

Mark

QBO Experts - Has this been updated for budgeting by class and location?  I need to drill down each class and location for a budget. If not, I see the comment below "What you can do for now is run the data individually. Then, you can export them to an Excel file to combine the reports."  Can you elaborate on this?

Do I create a budget by class and a budget by location?  

Thank you for participating in this discussion, @ellen1strcf. Let me go into more detail about creating a Budget by Class and Location outside of QuickBooks Online (QBO).

Many companies use budgets to predict how their finances will likely appear in the upcoming months or years. To construct a budget, one looks back at the company's earnings and outlays from the previous month, quarter, or year. 

Currently, QBO is unable to construct a consolidated budget by class and location. Yes, you may need to run each individually and merge the data manually in Excel. Please see the steps below.

1. Go to Budgets and click Create New.
2. Select the Period and click Subdivided Budget.
3. In the Subdivide by dropdown, click Location and select the specific locations.
4. Click Next.
   
5. Fill in the cells and click Save.
6. Go back to the Budget section and look for the budget by location you created. Click the dropdown beside Options and select Run Budget Overview report.
    
7. Click the export icon and select Export to Excel.

Follow the same process for the Budget by Class. Once done, manually integrate the two reports in Excel.

I understand how this feature is essential to your business. As of now, we don't have a set time for when this option will be accessible in QBO. As long as you submit feedback directly to our software engineers, rest assured they'll evaluate your suggestions and might consider incorporating them in our future product enhancements.

Furthermore, visit these helpful references on how to manage your budgets with ease using QBO Advanced:

• Create and Edit budgets in Spreadsheet Sync for QuickBooks Online Advanced.
• Upload a budget using a .csv file.

Let me know whenever you have additional queries about managing your budgets. I'm available at all times to help you further. Take care and have a great day ahead!