QuickBooks has multiple Inventory tracking, Batch Invoicing and specific versions for different industry types (contractor, Manufacturing & Wholesale, General Business, etc.) are some of its great features. You can also create a budget in QuickBooks Desktop that will serve as a base to make budget plans for year long. Creating a budget in QuickBooks Desktop can be done in easy steps that we will learn in this article. You can also delete budget in QuickBooks Desktop. It is up to you to remove the previous year budget or keep it as per your requirement.
Budget in QuickBooks helps you manage different business activities. This feature is quite helpful and enables you to analyze funds, needs, and resources required for your company.
You can effortlessly carry out business activities and take various decisions based on the budget in QuickBooks Desktop. The budget can be used to analyze funds, analyze needs, and also provides you with the ability to analyze the resources required to meet those needs. A budget is a good budget only if you have compared results versus the plans.
QuickBooks provides you an effective budgeting tool by which you can print various reports to compare their plans with the actual expenses. A comparison of the budget vs. actual results gives a fair bit of idea about the business’s performance for that year.
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You can set up a budget in Quickbooks Desktop with some easy steps that are given below.
The next thing is to enter Financial year in the content box on your screen.
Creating a Profit and loss Budget in QuickBooks
Note: You can choose Class Radio Catch’ to enter classes in your budget, or can select ‘No Additional Criteria radio button’ if you do not want to add these classes.)
Creating a Balance Sheet Budget
The above steps will help you create a Profit and Loss Budget in QuickBooks and a Balance sheet Budget in QuickBooks. Next section will tell us how to delete budget in QuickBooks.
To delete a budget in QuickBooks desktop perform the below steps carefully to avoid any lost data or discrepancies.
The above article explained about setting up, deleting or creating a budget in QuickBooks. In case you have any doubt/query, you can speak to our technical experts at QuickBooks Desktop Tech Support Number.
If you ever feel the need of taking advice from your fellow business owners that happened to be our existing subscribers, you can visit our thriving QuickBooks Community. Still, if you do not find an answer for your specific question within the community, in that case, you can also post your question in the community to get the requisite answer from the contributing members.