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Import Budget Into QuickBooks Online

Import Budget Into QuickBooks Online

To estimate business performance, every organization uses budgets. The performance of these budgets is gauged by first comparing their results to the budgets’ initial setup. Online QuickBooks makes it simple to create and import budgets. You can learn more about creating budgets in QuickBooks as well as other related information in this blog. 

The importance of importing a budget into QuickBooks Online: 

In QuickBooks, budgeting is used to estimate future revenue and costs. A budget for profit and loss for the fiscal years can be easily made using the income and expense account. Keeping business finance at the top aids in better budget management.

How do I create and import budgets into QuickBooks?

You can create budgets using the accounting information in both QuickBooks Online Advanced and Online plus. You can quickly check and modify the features of the budget after you’ve created it in QuickBooks. It permitted the running of financial reports for comparing sales and expenses.

How Do I Create Budgets in QuickBooks Online?

To create, access, or delete budgets, users must first sign into QuickBooks with full permission. The actions you must take to use QuickBooks Online are listed below:

Step 1: Verify your fiscal business year.

  • Make sure QuickBooks has the fiscal year beginning selected. Observe the guidelines:
  • Log into QuickBooks Online in administrator mode.
  • Find the Settings option.
  • Click the Account and Settings button.
  • Select the advanced option by clicking.
  • Check the First month of the fiscal year field in the Accounting button.
  • To change the date, select Edit.

Step 2: Gather the Budget Data

If you have already gathered the budget data, you can skip this step. If not, you can use the information from QuickBooks to move forward as follows:

  • Select Reports from the menu.
  • Select and launch the Profit and Loss Detail report.
  • Select the “Report Period” drop-down menu by clicking the corresponding button.
  • Select a period.
  • Choose Last Year if you need to use data from the previous year.
  • Make sure the year’s beginning and end coincide with the fiscal year. Click on the This Year to Date option if you need to use the data from the current financial year. 

Step 3: Get a budgeting template

A budget template is typically available in.csv format; open QuickBooks to find one. Create a budget using this information to ensure data compatibility. There is a limit of five budget templates. Here are the guidelines:

  • Select “Settings” from the menu.
  • Select budgeting.
  • Save Money on Imports.
  • To begin downloading the template, select the Sample.csv link.

Once the download is complete, save it somewhere accessible to you, like the Downloads folder. 

Step 4: Create a budget

Now open Google Sheets and the.csv budget template. To continue arranging the template format, use the chart of accounts and fiscal year months. Create a budget for each month. Remember not to add any additional rows or columns. Before downloading the template, add any additional accounts you need to see to the chart of accounts.

Step 5: Uploading the Template

Once you have finished, begin reimporting the budget into QuickBooks. The steps are as follows:

  • First, select the Settings button.
  • Decide on budgeting.
  • Select Import Budget from the menu. 
  • Select Browse, then click the template.
  • Your budget is already stored in QuickBooks once you are finished with this. 

Learn how to import and create budgets in QuickBooks Online?

These are the steps: 

Step 1: Change the fiscal year’s first month.

  • Make sure QuickBooks has the start of the fiscal year set. The guidelines are listed below:
  • Sign into QuickBooks Online using an admin password.
  • Select Settings, then select Account and settings.
  • Select “advanced” from the menu.
  • Check the field in the Accounting tab that says, “First month of the fiscal year.”
  • To alter the date, select Edit.

Step 2: Compile Budget Information

The current fiscal year or the amounts from the prior year may be used as the budgetary basis for the data. Running a Profit and Loss detail report is necessary if you intend to use historical data to make sure that the accounts and transactions are accurate. The reports include the transactions from the current year up to this point. You can customize reports using the instructions below:

  • Check out the Reports section.
  • The Profit and Loss Detail Report can be found and opened.
  • To select the previous fiscal year, click the drop-down arrow next to Report Period.
  • To use the information from the current fiscal year, select this Year-to-date option.
  • Select Run report.

Step 3: Create a budget

  • You can duplicate the prior budget if you don’t need to create one from scratch.
  • Here are the guidelines:
  • On the Settings button, click.
  • Select budgeting.
  • Select Add budget.
  • In the “Name” field, enter your name.
  • To select the fiscal year related to the item, click the Fiscal year drop-down
  • To change the budget’s frequency to monthly, quarterly, or annually, use the fiscal year drop-down menu.
  • To automatically enter the date from the current budget, select Pre-fill data from the drop-down menu.
  • To divide the budget into categories for classes, clients, or locations, select the subdivide by drop-down menu.
  • Click the Settings icon that appears on the Total column to view the Account and subaccounts if you are unable to see them.
  • The Hide black rows checkbox should be marked.
  • Once finished, select Save or Save and Close.

How Do I Run Budget Reports in Quicken Online?

  • The Settings icon should be clicked.
  • Deciding on a budget.
  • The list will reveal the budget.
  • Select an action from the drop-down menu.
  • Go to Run Budget Overview Report and click it. 

Benefits of where you can create a more effective budgeting process: 

  1. You probably already know that some months are better than others, even if your business isn’t seasonal.
  2. Be aware of both major and minor expenses. Before adding optional fields, enter your budget items for the bills and various expenses that need to be covered.
  3. Your reports will be inconvenient if you try to budget down to the last paper cut.
  4. Make sure you regularly create backup files. Similar to how you should have a supply of extra supplies for your company.
  5. Make your staff a part of the cycle. You shouldn’t keep the costs in your company budget a secret.
  6. Overestimate your costs a little.
  7. Consider using assets in abundance to pay obligations. 
  8. Find fields where you can switch vendors. You need to take each product and service provider into consideration as you create your budget.
  9. You could even start by creating a budget for two or three months at once. You will learn a lot about your spending and sales strategies that you can use in the future.

QuickBooks offers a budget layout with currently available Commonly Used Small Organization Items.

Entering numbers into the provided tiny boxes will allow you to create your budget. Depending on what you decided, sections are divided into months or quarters, and pushes with budget items are designated as sections. QuickBooks offers two reports that are connected. The entire content of your budget is displayed in the budget overview. Actuals versus budget illustrates your adherence to your budget.

We hope the information above answers all of your questions about “How to import a budget into QuickBooks Enterprise.” Consistently maintaining accurate records of your financial data is crucial for the success of your business. But to maintain records, you need a framework that gets around the problems that come by default. 

The following options are available if you wish to change the budget that was imported automatically:

  • A different QuickBooks budget should be substituted for the imported one.
  • A budget from Excel or your forecast should be used in place of the imported budget.

Adding a budget from QuickBooks, Excel, or saving your forecast as your budget are all options if you did not have one to have it automatically imported during the initial import. 

Import budget into QuickBooks online

Let’s finish this by entering the budget manually in QuickBooks Online by class. You must first enable the Class feature and come up with a class name. This is how:

  • Activate the Gear icon.
  • Select Your Company, then Account and Settings.
  • Turn on the Class feature in the Advanced tab.
  • Press Save. Then, click Done.

Once a class has been created. After that, you can begin entering a budget. This is how:

  • Go to the Gear icon.
  • Budgeting can be found under Tools.
  • On the Budget tab, click Add in the top right.
  • Name your budget now. Select Class next.
  • To enter amounts, click Next.
  • Next, click Save.

To view the data, you can also run the Budget Overview or Budget vs. Actuals reports. Use the Customize button once you’re there. Make sure to check the Class box and include all of the classes you created for the budget in the Filter section. Hit Run report to update the report after the changes.

How to copy an existing budget in QuickBooks Online?

  • The guidelines you must adhere to are as follows:
  • Budgeting should be selected after selecting Settings.
  • Find the budget you need to duplicate.
  • Select Action from the drop-down menu.
  • Now fill in the copy budget screen with the new budget’s name and fiscal year.
  • Select Create Budget from the menu.
  • The budget amounts can be modified as necessary.
  • Click the Save or Save and close button.


This concludes the article with a quick tutorial on how to create and import budgets into QuickBooks. Keep checking back to learn more about how QuickBooks’ import, export, and delete functions can improve business productivity.


1. Before importing the budget into QuickBooks, how can I update it?

Open the company menu, then select Setup budget to update a budget. You must select the fiscal year of the budget that needs to be changed from the budget drop-down menu. Enter the amount for the account for each month for an expense account. Once you’ve made all the changes you want to make, click the Save button to finish the program.

2. Is it possible to delete a budget before importing it into QuickBooks Enterprise?

Go to the “Planning & Budgeting” section by opening the Company menu. Then, click on “set up budgets” and select the spending or budget that you want to delete from the drop-down menu. If necessary, proceed and select the customer job. After that, select “Edit Menu,” then “Delete,” and finally press the Yes button.

3. How do I add a line item to the newly created budget for QuickBooks import?

Opening the Company menu and selecting the “Planning Budgeting” section is the first step. The following step is to choose the budget you previously created by clicking the budget drop-down. When you move forward with the displayed instructions and click the field to enter the amount, the program is complete.

4. How can a budget template be imported into QuickBooks?

To create an importable template, return to the QuickBooks application, click File, choose Utilities, select the export option, select Lists to IIF Files, select Budgets, and then click Okay. The ability to save the data to your computer is provided by QuickBooks. You may decide to save it to your desktop.

5. How do I import an IIF file into QuickBooks?

Choose your saved IIF file, then import it into QuickBooks. Go to the company option in the QuickBooks application, click on planning and budgeting, set up budgets, and then you should see your entire imported budget.

6. How do I set up a budget for data in QuickBooks Online?

Log in to QuickBooks Online using an admin credential. Click on Account and settings after selecting Settings. Select the advanced selection. Check the Fiscal Year’s First Month field under the Accounting tab. To change the date, click Edit. The data budget can be created using the amounts from the current fiscal year or the prior year.

7. In QuickBooks, how do you edit or delete a budget?

Select the Gear option in the budget’s top left corner to change the period to monthly, quarterly, or annually. select the year or quarter. Select either Save or Save and close. How do I get rid of a budget in QuickBooks? To recover the deleted budgets, be sure to make a considered decision. What to do is as follows: Budgeting is accessible by selecting the Settings icon.

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