I work for a church and we are trying to begin working with Quickbooks and we are doing a lot of backpeddaling by putting in all of this years information. In order to begin we need to put in the budget numbers and when we tried to do it, it appeared as though you could only put in the budget month by month instead of putting in the annual amount and having Quickbooks do the configuring
You enter the budget into QB according to the expense accounts set up in the chart of accounts. So, create an expense account for the 'salaries' and you should then be able to enter a budget amount for it.
I think the question they were asking is about putting in the amounts as an annual total. You can put the total amount for the year in the January column and it should show properly on all your budget reports.
Beth
I have the basically the same question. I need to enter my budget amounts for each account as a yearly total, not broken down by months. I haven't found where I can do that. any help?
To enter a budget in QB, go to company, budgets & forecasts, set up budgets. To enter annual budget amounts, put the full amount in the first month of the year (usually January).
I have entered the annual line item budget amount in the first month (July) but the amount is not divided by 12 and entered into the other months. When I display a budget vs Actual report the July month contains the annual amount and the August budget column is all zeros.
You're right--if you want to enter the annual budget (for the whole year) it goes in the first month. If you want to enter monthly budgets, then you need to enter the monthly budget amounts. If you want the same amount in each month, you can hit the 'copy across' button.
