How to Edit and Delete Budgets in QuickBooks Desktop

QuickBooks was designed to handle all kinds of Accounting Software and business requirements. QuickBooks can be easily used to create a budget for a job, account, client, or class inside an account. You just have to enter the amounts for the budget in the income or expense section. The balance sheets are maintained for accounts that are easy to track. This way, you can efficiently maintain budget reports that track actual amounts and budget amounts. Generally, one budget is set up for a year. In this article, you will learn how to create and delete budgets in QuickBooks Desktop accounting.

Setting up a Budget in QuickBooks Desktop

In the steps mentioned below, you can easily create an account-based budget for classes:

• Double-click on the QuickBooks Desktop icon.
• Go to the Company option.
• Choose the Planning & Budgeting option.
• Click on the Set Up Budgets option.

Important: If you have previously created a budget, then you can easily continue the process. But, in case, you haven’t created a budget in your QuickBooks accounting software, then you need to create a Budget.

• Select the year for which you want to create the budget.
• Click on the type of budget that you want to create.
• You can add budgeting criteria and instructions for your budget.
• Signify whether you want to start from scratch.
• Press the Finish option and then click on Do your Budget.
• To save your work, click on Save and do not close the Set-up Budget Window open Finally, enter Hide Plan.

How to Edit Budgets in QuickBooks Desktop?

• From the top menu bar in QuickBooks Desktop, click on “Company,” then “Planning & Budgeting“.
• In the Budgets window, select the budget you want to edit from the drop-down list.
• In the Edit Budget window, you can change the budget amounts for each account by clicking on the amount field and entering the new amount.
• If you need to adjust the budget time frame, click on the “Fiscal Year” drop-down list and select a new fiscal year.
• Once you have made the necessary changes to the budget, click on the “Save” button to save the changes.
• After editing the budget, you can review the budget report to ensure that the changes you made are reflected correctly.

Steps to Delete the Budget in QuickBooks Desktop

Here are some steps, that you should follow in order to delete the budget in your QuickBooks Desktop accounting software.

• Click on the Company menu.
• Click on the Planning & Budgeting option.
• Go to Setup Budgets options.
• Click on the Budget’s drop-down menu and select the budget that is to be deleted from the list.
• You can also assign a customer or a class: Job if necessary.
• Click on the Edit menu and select Delete Budget.
• Press the Yes option.
• Before deleting your budget, it is advised you save a copy of your budget by printing it.

Related Topic: Import Budget Into QuickBooks Online

Our Assistance Channels

By following the steps mentioned in this article, you can easily edit and delete a budget in your QuickBooks Desktop accounting software. In case you are facing some issues while following the steps, you can contact QuickBooks, which is set up by Intuit. If you are unable to reach out to them, then you can look for other alternatives like “Bigxperts”. We are a third-party QuickBooks customer service agency that provides round-the-clock service.