QuickBooks Budget Modification: A Step-by-Step Guide

Tracking expenses using QuickBooks' budgetary tool is efficient and accurate. There are times however, when budgets need to be modified and updated to reflect the current financial climate. These adjustments are easier than you might expect so don't be scared off by fear of losing information or drowning in information overload. Based on the the 2009 version of QuickBooks Pro, here are some steps to follow to get you through the process.

Getting Started

Generate a budget overview report for the budget you are planning to modify. You should print the existing budget and keep it as a record prior to the changes you're about to make. Once you've printed the report, go to the Company drop-down menu, select "Planning and Budgeting," then select "Set Up Budgets." This will bring you to the budget form so you can get down to business.

Instruction

With the template now open, select the year from the Budget drop-down menu at the top left of the form. At this stage, carefully choose the accurate budget you want to work with as there can be numerous years. Based on the volume of data affecting each account, you can choose either to edit numbers through the "Adjust Row Amounts" button, at the bottom of the form, or with a singular change. To change multiple months, choose your account and select a starting month, which will highlight the account row. Then press the "Adjust Row Amounts" button.

In the "Adjust Row Amounts" window you must select either to start at the first month or "Currently Selected Month.: The "1st Month" selection will modify all 12 months, whereas choosing "Currently Selected Month," will adjust only from the highlighted month through end of the year.

In the same window, you also have the option to increase or decrease the monthly amount numerically or by percentage. With your choices selected, choose "OK" and your data will be updated. Changing one month at a time is straightforward. In the account you wish to change, under the specific month, highlight the value and type in the new data. Hit "Tab" to confirm your change.

Be aware! If you hit "Enter," the document will automatically save with the new changes and exit the budget form.