Budgeting by Class in QB 2017

callytex · ‎March 28, 2019

How do I budget multiple classes for an account in QB desktop? When budgeting by class, is each class a separate budget?

I need an annual church budget with ability to run a budget by class (a subset of the "total" annual budget). I created a P&L Budget by account by class, using prior year's P&L actual, by class as starting values. However, it appears that each class is a separate budget. I entered amounts against the same account for 2 different classes. When I went to the Budget Overview report, the total of the account did not equal the total of values for the 2 classes entered. Please help me understand how budgeting by class works.

PreciousB · ‎March 28, 2019

Thanks for visiting us here in the Community, callytex.

Let me share some details on how budgeting works in QuickBooks Desktop.

The amounts you've entered when creating a budget should equal to the figures of each class in the Profit & Loss Budget Overview. Since it didn't match on your end, customize the said report into class. That way, you can see the breakdown and its total.

Here's how:

Click Reports at the top menu bar.
Under Budget & Forecasts, choose Budget Overview.
Select the correct budget report and click Next.
Choose a report layout for the budget report and click Next.
Click Finish.

The screenshot below shows these steps as well.

On the report, please review the figures on each class and accounts.

Here's an article that may come in handy: Customize reports in QuickBooks Desktop.

That information should get you on the right track. 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. I'm cheering you to continued prosperity.

View solution in original post

Anonymous · ‎March 28, 2019

The awful truth is that there separate budgets for 'overall' and each 'class' - so the totals of all classes might be different than the overall - its up to you to make sure they add.

Obviosuly this a terrible thing for an accounting system - but thats the way it is (was?).

PreciousB · ‎March 28, 2019

Thanks for visiting us here in the Community, callytex.

Let me share some details on how budgeting works in QuickBooks Desktop.

The amounts you've entered when creating a budget should equal to the figures of each class in the Profit & Loss Budget Overview. Since it didn't match on your end, customize the said report into class. That way, you can see the breakdown and its total.

Here's how:

Click Reports at the top menu bar.
Under Budget & Forecasts, choose Budget Overview.
Select the correct budget report and click Next.
Choose a report layout for the budget report and click Next.
Click Finish.

The screenshot below shows these steps as well.

On the report, please review the figures on each class and accounts.

Here's an article that may come in handy: Customize reports in QuickBooks Desktop.

That information should get you on the right track. 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. I'm cheering you to continued prosperity.

callytex · ‎April 16, 2019

Thanks very much for the clarification. You have helped me tremendously.

Callytex

PreciousB · ‎April 16, 2019

You're most welcome, callytex.

I'm happy you find the customized Budget Overview report helpful.

You can also memorize this report for later use.

It's always my pleasure to assist you, so please come back to the Community if you have other questions. I'm cheering you to continued prosperity.

callytex · ‎April 16, 2019

Thanks for your help, MikeinBC! I'm managing to weave the process together.

Callytex

Topics

Training

Community

Resources

Budgeting by Class in QB 2017