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Budget and Forecast in QuickBooks Desktop

The planning and budgeting features in QuickBooks Desktop Premier and QuickBooks Desktop Enterprise Solutions editions include options to set up both budgets and forecasts. These tools can provide information that can help you plan and make decisions for your business.

This article defines budget and forecast. It also provides recommended solutions to some common issues and unexpected results you may encounter when working with budget and forecast.

Detailed information

Budget is a quantified, planned course of financial action over a defined time period. A budget attempts to estimate inputs and the costs of inputs, along with associated outputs and revenues from the output period. A budget:

  • Helps a company to carefully consider the expected demand for its products and services and the resources required to meet that demand.
  • Translates the company's higher priorities into the appropriate resources required to achieve those priorities.
  • Highlights potential problems in sufficient time to take corrective actions.
  • Creates a baseline against which actual results can be compared.

Forecast allows you to make predictions about future revenue and cash flow, as well as assess "what if" scenarios to help you make better decisions for your business. It can be created from scratch or from actual data from the previous fiscal year. In QuickBooks, a forecast is uniquely identified by its fiscal year and can be further identified by Customer:Job or Class

Unexpected results
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