Setting up a Budget that has diffferent line items than previous years

CiaMariaPia · ‎December 03, 2021

I'm the treasurer for a small AKC dog club. Among other activities, we host several different types of competitions during a typical year. We've used Quickbooks for a number of years but we've found that our income & expense accounts need to change AND we'd like to start using classes. In trying to set up next year's budget (FY2022), I can't seem to add a new event nor can I edit other existing events. The "new" budget that QB creates - even if I tell it to make a new budget - uses the same budget line items as previous years. What am I missing?

LieraMarie_A · ‎December 03, 2021

Hi there, @CiaMariaPia. I'll help you create next year's budget from scratch.

When creating a budget, make sure to begin by specifying the year (2022-2023) and type. After selecting additional criteria, it will give you two options. You can either create a budget from scratch or the previous year's actual data.

Here how:

Go to the Company menu and hover over Planning & Budgeting. Then, select Set Up Budgets.
Click Create New Budget.
Set the fiscal year for the budget, then choose Profit and Loss. Then, click Next.
Choose Class as additional criteria.
Select Create budget from scratch.
Select Finish.

You can also refer to this article for more details: Create a budget or forecast.

Additionally, I'm linking the following articles that let you run reports and track classes you want to keep a close eye on:

Please fill me in if you need more help starting a new budget. I'll be happy to help until it's resolved.

CiaMariaPia · ‎December 03, 2021

I'll give it a try over the weekend! Thanks for your help.

Tom

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