How to Enter Your Operating Budget in QBO
Kate Stephenson
21 steps
56 seconds
QuickBooks
Google Docs
1
Open your Operating Budget Google Sheet.
2
Add a new column next to your annual budget total.
3
Insert a blank column.
4
Enter a formula here to divide the total annual budget by 12 (to create a monthly budget). Formula is =H5/12
5
Highlight the cell with the new formula in it. Click the blue dot on the bottom right corner of the cell to drag it down and populate all the other cells in the column with the same formula.
6
Log into your QBO account.
7
Click on the Gear icon in the top right corner. Under Tools select Budgeting. Click Add New Budget. Give your budget a name. Select the fiscal year and Monthly. Then click Save.
8
Start to fill in the fields from your Operating Budget sheet row by row.
9
Copy the value from your Operating Budget. Press [[ctrl]] + [[c]] (Copy) Click into the cell in the QBO budget. Press [[ctrl]] + [[v]] (Paste)
10
Click the blue arrow to copy the number across to all months.
11
Check that the total matches your Operating Budget sheet. Due to rounding you may have to make a slight adjustment in December to get the totals to match. Click "1,000,000.00"
12
Continue with each row of your Operating Budget, checking the totals as you go.
13
Once you've entered all the rows, click "Save".
14
To check that everything came out OK, Click "Reports"
15
Click the "Find report by name" field.
16
Type "budget"
17
Click "Budget vs. Actuals"
18
Click "Customize"
19
Click "Accounts vs. Total"
20
Click "Run report"
21
Review the report to check that the totals under Income, COGS, Expenses and Net Income match your Operating Budget sheet.
How to Enter Your Operating Budget in QBO
Kate Stephenson
21 steps
56 seconds
QuickBooks
Google Docs
1
Open your Operating Budget Google Sheet.
2
Add a new column next to your annual budget total.
3
Insert a blank column.
4
Enter a formula here to divide the total annual budget by 12 (to create a monthly budget). Formula is =H5/12
5
Highlight the cell with the new formula in it. Click the blue dot on the bottom right corner of the cell to drag it down and populate all the other cells in the column with the same formula.
6
Log into your QBO account.
7
Click on the Gear icon in the top right corner. Under Tools select Budgeting. Click Add New Budget. Give your budget a name. Select the fiscal year and Monthly. Then click Save.
8
Start to fill in the fields from your Operating Budget sheet row by row.
9
Copy the value from your Operating Budget. Press [[ctrl]] + [[c]] (Copy) Click into the cell in the QBO budget. Press [[ctrl]] + [[v]] (Paste)
10
Click the blue arrow to copy the number across to all months.
11
Check that the total matches your Operating Budget sheet. Due to rounding you may have to make a slight adjustment in December to get the totals to match. Click "1,000,000.00"
12
Continue with each row of your Operating Budget, checking the totals as you go.
13
Once you've entered all the rows, click "Save".
14
To check that everything came out OK, Click "Reports"
15
Click the "Find report by name" field.
16
Type "budget"
17
Click "Budget vs. Actuals"
18
Click "Customize"
19
Click "Accounts vs. Total"
20
Click "Run report"
21
Review the report to check that the totals under Income, COGS, Expenses and Net Income match your Operating Budget sheet.
