How to Set Up and Delete Old Budget in QuickBooks?

How to Set Up and Delete Old Budget in QuickBooks?

Budget in QuickBooks

QuickBooks is one of the best accounting software in the global business with its best features. QuickBooks provides different versions to its different users so that they can grow their business in an easy way without expenses. With the help of QuickBooks accounting software, a user can get any type of information about their business at any time and from anywhere. QuickBooks also helps to create a budget for a business that will serve as a base to make plans for year long. So today we are here to talk about How to Set Up and Delete Old Budget in QuickBooks?

QuickBooks Budget helps users to manage business activities for a long time. This feature of QuickBooks is very helpful and enables users to analyze about needs of a business, funds, and resources that are required for the business. 

Advantages of QuickBooks Budget

  • It helps to track the correct amount of resources by using this you can manage all of your business financial processes. 
  • You can handle your business accounting issues by using QuickBooks budget.

Tasks to perform while using QuickBooks Budget

  • You can collect, edit, and conclude every aspect of your business strategy. 
  • Enter your salary point of interest. You can get this access from your old budget. 
  • Get a cost point of interest.
  • Fill the salary data of the business to get the required details. 

QuickBooks provides an effective budgeting tool to its users by which QuickBooks users can compare their business plans with the actual business expenses during a year. This comparison between plans and expenses can give a fair idea about the performance of the business during a year. 

Steps to create Budget in QuickBooks

To create Budgets in QuickBooks you have to follow the steps that are mentioned below:

Step 1: Create your Budget Window

  • Firstly you have to click on the organization tab in QuickBooks. 
  • Now you have to click on set up spending plans then click on create a new budget button. 

Step 2: Choose Financial year

The next step that users have to follow is that you have to enter your financial year in the box that opened on the system screen in front of QuickBooks users. 

Step 3: Create P&L (Profit and Loss) balance sheet Budget for business

  • Firstly you have to click profit and loss catch then press enter. 
  • In the P&L (profit and loss) budget users can plan the expected income of the business. 
  • Now users have to choose the option customer job ratio catch to fill the job details. 

Step 4: Complete

  • In this step, users have to click on the complete button when you have seen the budget window on the screen. 

The steps that are shown above will help users to create New Budget in QuickBooks that can help users to know about the financial condition of the business. 

Delete Old Budget in QuickBooks

Now we are talking about how to delete Old QuickBooks Budget in QuickBooks accounting software. Users have to read this part carefully because of a single mistake in deleting the old QuickBooks Budget can erase your business data. So follow the below steps carefully.

  • First of all, users have to click on the company button in QuickBooks. 
  • Click on the button of Budgeting and Planning. 
  • Now press on set up a budget. 
  • Now you have to click on a budget drop down and click on the budget that you need to delete. 
  • Highlight the customer job if necessary. 
  • Now click on the Edit button and then select delete then a box open on the screen then click on yes. 

How to Edit your Existing Budget in QuickBooks

  • Click on the gear icon in QuickBooks and then click on the Budgeting option. 
  • Here users can able to see all budgets of business. 
  • Here you have to choose the drop-down for each budget:
    • Copy.
    • Delete. 
    • Edit. 
    • Now run the budget report. 
    • Run budget vs. actual report. 

The steps that are mentioned above are help QuickBooks users to edit their existing budget in QuickBooks. In which users can able to see their old company budgets and compare the old and current financial structure of the business. 

Wrapping Up

The steps that are mentioned in this article can really prove helpful if QuickBooks users follow all the steps very carefully. We are sure that no one can provide this type of easy steps to create a Budget in QuickBooks. In this article, we also mentioned how to delete the old Quickbooks budget and how to edit an existing QuickBooks budget. If you are facing any problem while using QuickBooks then you can call us at our QuickBooks customer service. Our experts will help you to solve your QuickBooks errors. 


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