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BTG5
September 7, 2024
Question

Create and use a budget for "unspecified" location

  • September 7, 2024
  • 1 reply
  • 0 views

I would like to use the Location Tracking feature as a way to keep certain items outside of our budget. In other words, I want to create a budget for everything except the small group of transactions for which I've specified a location.

 

But how can I create the budget that I want? If I use the "subdivided by location" option, the system only lets me create budgets for the named locations. I don't see any way to set up a budget for our default (blank/unnamed) location, nor have I found any filtering option to exclude named locations from a Budget vs. Actuals report.

 

(I've also tried using Class Tracking or Tags instead of Location, but I didn't find any way to make it work. Or maybe there's some way to give a name to the default/blank location. The only possible work-around I've found is to use separate categories for the transactions I want to exclude, but I hope there's a better way.)

1 reply

J
Jelayca V
September 7, 2024

Let me share some information about how the budget feature works in QuickBooks Online (QBO) and offer an alternative to track your unspecified locations, @BTG5.

 

Currently, budgets in QBO only allow for specific named locations during setup. That being said, I agree with you that a practical approach would be to create separate categories for the transactions you want to exclude.

 

Alternatively, you can create a dedicated location for unspecified transactions, let's say you call it No Location. This way, you can track transactions that don't belong to a specific setting.

 

  1. Navigate to Settings and select All lists.
  2. Select Locations.
  3. Select New, then enter the name of the location you want to track in the Name field.
  4. Once done, hit Save.

 

In addition, QBO allows you to personalize reports by filtering them to show specific accounts, and customers or formatting the layout to present the most positive data. For a detailed guide on how to do this, refer to this article: Customize reports in QuickBooks Online.

 

If you want to keep a report in QBO with its existing customization options, you can check out this article for later use: Memorize reports in QuickBooks Online.

 

Please don't hesitate to visit us or comment below if you have further questions about the budget feature in QuickBooks or need a helping hand with other questions related to the program. Keep safe.

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