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For my business, I have an account set as an equity account in QB Desktop Pro 2019. The account is called "draw" and I use this account when I am paying myself out of my business.
I am trying to setup a budget for 2020. This account "draw" (which is an equity account) does not show up as a possible line item in the budget.
Is there a way to add an equity account to the budget?
Since I use this account monthly to pay myself, it is critical that I include this in my budget.
I'll help you create a budget, Mwhittington.
You'll have to create a Balance Sheet budget type. This way, the draw account will show. Here's how:
This is how it looks like:
Let me add the article about creating a budget or forecast in QuickBooks Desktop to better help you.
Tag me if you need more help. I'll reply to all your questions.
thank you very much for this. I am now able to see the draw account however this way doesn't include the other accounts that I need to budget for like fuel, office expense, etc.
would i create 2 budgets and the reporting would reflect all of it or would I need to do it just one way or the other?
thank you
Thanks for coming back, mwhittington.
Yes, you are right, we can run two budget reports to show the draw account and the company expenses for fuel, office expense, etc. To run a Budget report for expenses, just choose the Profit & Loss Account budget type.
Here's how:
We have a link here where you can find articles about managing reports in QuickBooks: https://quickbooks.intuit.com/learn-support/en-us/reports/07?product=QuickBooks%20Desktop.
Feel free to reply to this thread if you need anything with the budget report or any QuickBooks related. I'll be here to help.
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