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W
WG2
April 9, 2020
Question

Budget created with wrong year

  • April 9, 2020
  • 1 reply
  • 11 views

I spent several hours manually entering data to a budget that is for the wrong year.  It is referencing 2021 but the budget is for 2020.

 

Is there a way to change the budget year in QB Desktop Enterprise 18.0?  I really don't want to enter all data from scratch again if at all possible.  Is there a way to copy the budget in desktop QB?

 

 

1 reply

M
mv32
Level 8
April 9, 2020

Welcome to the Community, @WG2.

 

We aren't able to copy the budget that you have entered for 2021 to the budget that you set up for 2020. I suggest manually entering all the budgeted amounts for 2020.

 

Here's how:

  1. Go to the Company menu and then select Planning & Budgeting.
  2. Choose Set up Budgets.
  3. Click Create New Budget.
  4. Choose 2020 for the fiscal year's budget.
  5. Select the prompt options and click Finish.

 

That should get you to the right fiscal year. I've added an article as your reference in planning up budgets or forecasts: Create a budget or forecast in QuickBooks Desktop.

 

Please let me know if you have more questions. I'll be around to help. Stay safe!

G
Grace36
August 9, 2022

Is there anyway to change a budget year in QuickBooks Premier Nonprofit Edition 2021? I entered all the budget and put it in the wrong year. Please help!

E
EM94
June 2, 2023

I appreciate you taking the time to raise your concern here in the Community, @EM94.


I'm here to ensure that you'll get to have an easy way out to change your budget year in QuickBooks Desktop (QBDT). The data from the prior year can be used to create a budget. This option will copy all the data to the current fiscal year. You can then choose the appropriate year based on the data for the current year. 

Here's how:
 

  1. In your QBDT file, go to the Company menu.
  2. Select Planning and Budgeting, then choose Set Up Budgets.
  3. Click on Create New Budget.
  4. Choose the correct year, then click on Next.
  5. Select Next.
  6. Select the Create budget from previous year's actual data option.
  7. Once done, click on Finish.
  8. Select OK.

 

Moreover, I'll also share this article that can serve as your reference to know a wide variety of built-in financial reports that provide different perspectives on how your business is doing: Customize company and financial reports.

 

I'm looking forward to getting this resolved. Feel free to leave a reply if you require further assistance with changing your budget year. The Community team always has your back. Have a good one.


This "Select the Create budget from previous year's actual data option" brings the budget from 2022, not the one i put in 2024.

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