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BMW
October 30, 2018
Solved

Create a project budget

  • October 30, 2018
  • 1 reply
  • 20 views

I am using Desktop Pro 2017 and I am trying to create a budget for an upcoming project.  I would like to be able to enter a total cost for each line item for the length of the project.  But, when I go in to create a budget, it only lets me enter monthly amounts.  Is there a way to change the format that I'm not seeing? 

    Best answer by qbteachmt

    Use an Estimate. The Project would be on the Customer Center list, and the Estimate spans the lifecycle of the job, and allows you to use items that include P&L and Balance Sheet accounts.

    Budgets are limited to Fiscal Years.

    1 reply

    qbteachmt
    qbteachmtAnswer
    Level 11
    October 30, 2018

    Use an Estimate. The Project would be on the Customer Center list, and the Estimate spans the lifecycle of the job, and allows you to use items that include P&L and Balance Sheet accounts.

    Budgets are limited to Fiscal Years.

      M
      Mahmoud11
      March 2, 2019

      Thanks for your reply.

       

      Do i need also to make inputs for a project using Estimate for Balance Sheet accounts too?

       

      Kindly explain please.

       

      Best regards 

      Mahmoud 

      M
      Mahmoud11
      March 4, 2019

      Hi there, Mahmoud.

       

      Yes, you can use Estimate to input your project for Balance sheet accounts. The balance sheet accounts includes the business's assets. Each balance accounts has its own register, to track the transactions involving the accounts and their balances. 

       

      For future references, you can check on this article about Track job costs in QuickBooks Desktop.

       

      Let me know if you've more questions. I'll be right here to answer. 

       


      Hello Joyce, 

      Thank you so much for your answer.

      Usually we contractors make budget for projects that we build for our clients so that we can monitor the actual cost and check variance and also to evaluate the performance of our Engineers as well as our Estimators.

       

      so project estimate is apple to apple with P&L accounts ONLY. Thant why I still didn't get you when you mentioned we can also make budget for Balance Sheet accounts Project related also.

       

      I know we can make a balance sheet accounts budget BUT this will be for the whole company NOT for certain projects. Is that make sense?

       

      Thanks for the short reply.

       

      Regards 

      Mahmoud 

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