Sunday, July 29, 2012

QuickBooks: Budget – Prior Year Figures Workaround


I want to create a budget for 2013 based on my current year’s actual data. When I used prior year’s data, it gave me the information for 2011, not the current year. I can’t figure out what to do next.

I understand your confusion. Let’s look at it as laid out….
  •  you are creating next year’s budget (2013)
  •  in the current year (2012),
  • you selected the option for prior year’s data which happens to be 2011.

Actually, QuickBooks extracted and populated it with what you requested, because unfortunately, there is no option to pull the current year’s data.

The Workaround
You can actually “fool” QuickBooks by changing the date in your computer to the next year.

Click on the clock on your computer (usually in the lower, right corner of your screen) > Change Date and change the year to next year (2013).

Now, when you select Create the budget using the previous year’s actual data QuickBooks will pull the current year (2012) since you changed the computer date to next year (2013).

Keep in mind that you will only get the information up to the point that the information is in QuickBooks, and future months will be blank.

Don’t forget….after you create the budget, change the computer date back to the current year.

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