Budgeting Function in QuickBooks Desktop Made Simple

Budgeting in QuickBooks

QuickBooks is accounting software that allows different sized businesses to carry out all finance, payments, and accounting functions online, with ease. One of the features provided by QuickBooks is Budgeting, that allows users to create budgets, edit and change budgets as well as view and share budgets with other users. The specific feature helps you in viewing the company’s performance. Besides, it also compares your actual expenses and revenues with your company’s budget. This feature not only handles the business activities but also allows you to analyze funds, and resources required for your company. Before using this feature, you need to know the right steps to create budgeting in QuickBooks.

Let’s check the step by step instructions to create a budget in QuickBooks Desktop.

How do I create a budget in QuickBooks Desktop?

It is important to note that the Budgeting feature is only accessible for users who have logged in as Administrators with rights to access every portal.

Follow the steps given below in order to create a budget:

Set the first month for the fiscal year

  • Check the accuracy of the Fiscal Year on your desktop.
  • On the QuickBooks program, click on the Gear or settings icon and go to Account and Settings
  • Click on Advanced
  • Check whether the first month is correct. If not, select the edit icon marked by a pencil and change to the desired month
  • Save

Verify historical or past amounts

If the user decides to generate a budget based on previous data, a report on the details of Profit and Loss must be made. This ensures all the data has been correctly entered and does not interfere with future operations.

If you prefer to show the amounts from the previous financial year,

  • On the left side menu, click on the Reports option
  • Open the Profit and Loss Detail portal
  • Here you should be able to see Report Period. Click on Last Fiscal Year
  • Run report

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Create a budget

Once you have completed the first two precautionary steps, you can now proceed to create the budget.

  • Once more go to the Gear icon, located at the top. Click on Budgeting
  • Go to Add Budget
  • A Name field will open where you can type in a new name for the budget
  • Choose the fiscal year from the drop down option
  • Monthly, Yearly or Quarterly options can be selected from the Interval drop down
  • You can opt to Prefill data from a previous year, by choosing and selecting the year you wish to copy from
  • Class, Customer or Location options can also be selected from the Subdivide by
  • In case these options are not visible, but you would like to use them, go to Account Settings, Company followed by Categories section
  • Click on Next
  • If users have not prefilled the budget, you can do so on this page
  • QuickBooks allows users to enter decimal points into the system, and there is no rounding off of the numbers
  • If some lines from the budget are not visible, make sure there are no Hide preferences selected in the Gear icon drop down
  • You can now save and close the Budgeting

How do I edit, delete or copy a budget in QuickBooks Desktop?

How to edit a budget?

  • Editing must take place line by line and not altogether.
  • Click on the Gear icon and then go to Budgeting
  • Select the budget you wish to edit. The Edit option will be available from the Action column
  • You can now edit the name of the budget as well as the amounts
  • The Show Rows as option can help you edit a budget if it is sub-divided
  • Save your changes

How to copy a budget?

This feature allows users to create a new budget using the same data entered into the existing budget.

  • Open the Budgeting section by clicking on the Gear icon
  • Select the desired budget. Choose the Copy option from the Action column
  • Open a new screen and enter the name and fiscal year of the budget
  • Click on Create Budget
  • You can update the amounts and Save

How to delete a budget?

  • This option can be found on the Actions column in the Budgeting section
  • Note that once deleted, a budget will not be restored. Data will have to be filled in manually if the user needs to restore it.

How do I view an email budget reports in QuickBooks Desktop?

  • There are two types of reports that can be accessed on QuickBooks – Budget Overview, which provides a summary, and Budget vs. Actuals, which compares the budget data with the actual amounts
  • Both these reports can be found on the Actions column
  • You can also email, print and export the report. Note that in case of printing, the report will always be condensed and printed onto one page. In case you desire a detailed budget with a larger font, you can copy and paste the budget onto MS Excel and then proceed to print.


The blog has mentioned the steps for creating budgeting in QuickBooks. Also, you can take the help of the blog to know how to edit, delete or copy the budget, and view budget reports in QB Desktop.If you have any query related to Budgeting in QuickBooks, then dial the QuickBooks Toll- Free Support Phone Number 1-805-257-5030.

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