Creating a budget

After you’ve been in business for a year or two, you may want to take advantage of tools that will help you strategize and plan for the future. You can create a budget in QuickBooks Online from scratch or use existing data from the previous year. When you create a budget, you can keep track of your actual income and expenses to see whether you are coming in over or under budget.

QuickBooks allows you to create budgets for all income and expense accounts. You can also create a budget for specific customers. We will show you how to create a budget from scratch in this section.

Follow these steps to create a budget:

1. Click on the gear icon and select Budgeting, as shown in the following screenshot:

   

   Figure 12.13: Navigating to Budgeting from the TOOLS menu

2. The following screen will appear:

   

   Figure 12.14: The Add budget button

   Click on the Add budget button.

3. On the next screen, you will need to...