Budgeting in Quickbooks Online Essentials with Payroll Premium

Welcome to the Community space, Elm. Thank you for providing your subscription type. I'm here to give insights on the budgeting feature of QuickBooks Online (QBO).

QBO Plus and Advance subscriptions are the only ones that have this feature. No worries. Since you've mentioned that you recently purchased the subscription, you can sort this out by contacting our support team. Please be mindful of their support schedules to avoid inconvenience.

To create a budget, first review the fiscal year for your business. Ensure that the beginning of your fiscal year is correct in QuickBooks. You can create a budget anytime, but starting at the beginning of the fiscal year is best. To do this:

1. Go to the Gear icon, then choose Account and settings.
2. Select the Advanced tab. 
3. In the Accounting section, edit the fiscal year to your choice.
4. Select Save after making any changes.

Then, let's now create a budget.

1. Go to the Gear icon. Under TOOLS, choose Budgeting.
2. Click Create budget. Edit as needed, then click Next.
3. Input the data, then click Save.

Here's the article for detailed steps and details: Create budgets in QuickBooks Online.

Once you've created a budget, you can run a report to see the overview.

If you need further assistance regarding budgeting. I'll be happy to lend a hand. Take care!