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Establish and track budgets

Because nonprofit organizations often depend on memberships, grants, or fundraising for their survival, budgets that plan for your financial future can be critical. Budgets help you plan for the future and understand the costs you have already committed to for the fiscal year.

You can set up budgets that show your projected income and expenses and your projected account balances. You can then compare your actual income and expenses or your actual account balances against your plan by creating budget reports.

QuickBooks includes two customized nonprofit budget reports: Budget vs. Actual by Program/Projects and Budget vs. Actual by Donors/Grants.

You may also want to customize the Profit & Loss Budget Performance report to make it more useful. You can:

  • Select the $ Difference checkbox on the Display tab.

  • Change the title of the report to Budget Performance Year-to-Date.

  • Memorize your customized report.

See also

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