tracking actual balance sheet versus budget
I am able to track actual results versus budget for my profit & loss statement. How do I track actual versus budget for my Balance Sheet?
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aIsI-6t3Cr4yUOacwZ5xHE
02/04/12 1:28pm PST
Viewed by asker 02/04/12 1:28pm PST
Viewed by asker 02/04/12 1:28pm PST
2 Replies
02/09/12 9:15am PST
Hi ralphclu,
Welcome to the Online Community! The budget feature in QuickBooks Online only allows you to create a budget for your income and expense accounts. You're not able to create a budget for the balance sheet accounts.
I hope you have a wonderful day!
Sherrie
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If this answered your question, please mark this as solved.
04/06/12 3:41pm PDT
Latest post
Hi,
You can try a little work around by having memorandum accounts for certain (key) balance sheet items created as expense or income type - for Capital Expenditures (CAPEX) items as an example.
Then you can enter will have memo entries in these accounts alongwith budgets - this will solve your purpose but accounting work will increase.
Please let me know you require detailed answer.
Good luck!
Mohammad, ACPA, CISA.
Lead Consultant
Profac Consulting
Lead Consultant
Profac Consulting
