Learn How to Edit a Budget in QuickBooks & QuickBooks Online/Desktop

Learn How to Edit a Budget in QuickBooks & QuickBooks Online/Desktop

Accounting software such as QuickBooks is considered for making a budget. When companies are making their budgets in it, they may enter incorrect information. Or, they may wish to change certain values at a later point. To make the information correct or change the values in it, editing the QuickBooks budget will be suggested. Using the Budgeting option, we will pick the Edit icon to complete this purpose. Those of you who are not familiar with how to edit a budget in QuickBooks can continue reading. We will explain all the steps involved in the method to do so. These methods will also be suitable for QuickBooks Desktop and QuickBooks Online.

This reading is inclusive of the following:

How should I Edit a Budget in QuickBooks?

Users can edit the budget in the QuickBooks program only when they have located it. It can be located through the option of Budgeting. Once the budget has been found, tap on the dropdown available near it. It will show the Edit option. You can use this particular option to edit the budget. See to it that after all the edits have been made, the changes get saved.

  • Run “QuickBooks” to see the “Gear” button.
  • Using the button, opt for “Budgeting”.
  • Go through the list of your organization’s budgets.
  • Select any one budget.
  • Towards the right of the budget, a dropdown icon will be seen. Click on this icon.
  • From the options displayed, choose “Edit”.
  • The needed changes can be made to the budget. In the end, save these changes.

Please Note: While performing step 5, you will see various options along with “Edit”. These options will include “Run Budget Vs. Actual Report”, “Run Budget Overview Report”, “Copy” and “Delete”. You can use these options as per your requirements.

The method given above explains how you can edit a budget in QuickBooks. When more than one budget has to be edited, this method will have to be administered again. You may be unable to edit multiple budgets in one go in this accounting software.

How to Edit a Budget in QuickBooks Desktop?

QuickBooks Desktop is a version of the QB software in which editing the budget is very simple. To start, you can select the Gear-like icon to open Budgeting. This option will help you in finding all the budgets that have been entered by you. To edit one of these, you can make use of the dropdown provided next to the budget. The dropdown will reveal several options. Select the third option, or the option of Edit, to continue.

The following directions will assist you better to know how to edit a budget in QuickBooks Desktop:

  • Tap on the “Gear” like button in “QuickBooks Desktop”.
  • The button will display “Budgeting”. Select it.
  • Every budget of your company will be displayed. Pick one of these budgets.
  • Press the dropdown button next to the budget.
  • The following options will come up:
    • “Copy”
    • “Delete”
    • “Edit”
    • “Run Budget Overview Report”
    • “Run Budget Vs. Actual Report”
  • Select “Edit”.
  • You can now initiate the changes and then save them.

QuickBooks is used for creating multiple budgets. You may want to make changes to more than one budget. Edits to them can be made one by one.

Please Note: At the time of making the edits to the budget, you may notice that there are multiple errors or changes. You can consider deleting the budget in QuickBooks to skip the hassle.

Can You Edit a Budget in QuickBooks Online?

While QBO can be used for creating a budget, it can also be utilized for editing it. To make changes to the budget of your company via QuickBooks Online, you can visit the Settings. Head to the option of Budgeting to view all the budgets that have been entered by you. For every budget, an Edit symbol will be present. Press this symbol and start making the necessary changes. At the end of this method, you will be required to save these changes.

For learning more about how to edit a budget in QuickBooks Online, please go through these directions:

  • You need to find “Settings” in “QBO”.
  • Now, choose “Budgeting” in “Settings”.
  • A list carrying different budgets will open. Choose one of them.
  • Click on “Edit”.

Please Note: Using the “Edit” option, changes to an account can be made. To make changes to multiple accounts/budgets, these steps can be repeated.

  • Now, press “Gear”. This symbol will be visible at the top of the chosen budget.
  • Make changes to the budget’s time period.

Please Note: While making edits to your budget’s time period, you can select this period on a yearly, quarterly, or monthly basis. 

  • Press “Save and Close”/“Save”.

Please Note: It will interest you to know that along with editing a budget, you can also enter or create a fresh one. Here, you can see how to enter or create a new budget in QuickBooks.

To Take Everything into Account,

The option of editing budgets in QuickBooks is of use for several companies. It should be noticed that even when the option to delete a budget is available in the software, editing it can be more useful as well as time-saving. Even when the changes or errors in the budget are very minor, you can quickly edit them. Then you can continue working on the edited budget.

Along with editing your budget in QB, you may wish to remove certain item receipts. This blog will help you in knowing how to delete an item receipt in QuickBooks.

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