Question

Can a report be created to compare this year budget with last year actual?

Forum|Forum|2 years ago
January 29, 2024
4 replies
27 views

in budget, I can compare budget to last year. I cannot generate a report showing this.

QuickBooks Online

M

MirriamM

QuickBooks Team

Good day, Rick.

I'm here to help you in running the report you need.

In QuickBooks Online (QBO), we have the Budget vs. Actual report that you can run. It'll show your actual income and expenses compared to your budgeted amounts.

To pull up this report, here's how:

Go to the Reports menu.
Scroll down to the Business Overview section.
Click the Budget vs Actuals report.
Set the Report period, Budget, and Accounting method.
Click Run report.

If you want to filter the report to focus on the details that matter to you the most, you can do so by customizing the report. To know more about this process, you can refer to this article: Customize reports in QuickBooks Online.

If you need help closing out your current year and preparing for the upcoming year in QuickBooks with your accountant, you may want to refer to this resource: Year-end guide for QuickBooks Online.

Let me know in the comments if you have other reporting concerns in QBO. I'm always around to help. Have a great day!

R

rick.rrhnc@gmailAuthor

I have tried three times to reply to Mirriam. Her suggested solution does not answer my question.

R

rick.rrhnc@gmailAuthor

Does anyone else have problems getting real answers to real world problems? I would post a zero star report for this issue if I thought that it would do any good.

Rick

[email address removed]

QBO user and Forum registered person since 2022

QB Desktop User since 2007

Turbo Tax user for decades

J

jeanbiverly_

Let me help you compare your current year's budget with your actual from last year, Rick.

You can generate a Budget vs Actual report in QuickBooks Online. In this report, the year of the budget and the actual should be the same.

Alternatively, you can run separate reports for each year and compare them manually in Excel. I can guide you through the process.

Go to Reports, then select Budget vs. Actuals.
Set the Report period as This year or Last year.
Review the report details.
Once you're good, click the Export button next to the printer icon at the top right of the report.
Choose the Export to Excel option.

I'll add this supplementary article to help you manage your budgets effectively: Create budgets in QuickBooks Online. In case you want to set budget targets for each class, you can also check out this article for guidance: Set budget targets for each class in QuickBooks Online.

You can always get back to this thread if you have further concerns running a report for your budget and actual. We're still ready to back you up.

R

rick.rrhnc@gmailAuthor

Hi Jean,

Thank you for your prompt reply. I do understand that I could spend another hour or two recreating a work product on excel that is already in QBO. Just go to Budget then select "edit" for the budget (just like you do in setting up the budget. The use the compare feature by selecting 2023 as the comparison year. It is exactly what I need. But I cannot share it, I cannot print it, and I cannot export it. The only solution is as you suggest. But if I do that, I may as well just crearte the whole budget in excel and then import it into QBO. If this is the case, why bother with Budget - just do it all on Excel. But wait, that was one of the reasons that Intuit moved into the QBO business segment - to have all the data in one place and to reduce reliance on external data sources like personal Excel spreadsheets.

M

MLP808

I am using QuickBooks Accountant Desktop Plus 2023 and have the same question. I need to pull a report comparing last year's actuals with this year's budget. The options outlined in the instructions here and elsewhere online, only lead me to dead ends. I simply do not see the options you are talking about.

Please help.

M

Mark_AG

Level 1

Hello there, @MLP808.

I understand how important it is to run a report that compares your last year's actuals to this year's budget.

The option to compare your reports in QuickBooks Desktop is currently unavailable. But I know a workaround to help you achieve it. Let me go over some details to get you going.

You can run a Budget vs. Actuals report for last year and this year, then export it to Excel. Then, you can combine the two reports and customize them to compare the data displayed.

Since this option isn't currently available, I also recommend sending feedback directly to our product engineers to help us improve our services to everyone.

Here's how:

Select the Gear icon and choose Feedback.
Fill in your suggestions in the Feedback field.
Select Next to send it.

I'd like to share these articles that can guide you in the future:

Please don't hesitate to leave a reply if you have additional concerns besides comparing a budget report in QuickBooks Desktop. We're always here to ensure your needs are fulfilled.

B

braincapers

My question is related, but a little different. Can I get 1 report from QB's that shows current year actual, current year budget, and last year actual - along with the associated variances to current year actual? I can get a report that shows CY vs. budget, and CY vs. LY but I would like to get all 5 columns in one report (ie. to avoid exporting the EXCEL, merging, etc. I'm pretty sure I could do this in an older version of QB's????

Thanks.

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