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userstephaniejpayne
January 23, 2021
Question

How can I set up a budget within QuickBooks Self-Employed?

  • January 23, 2021
  • 1 reply
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1 reply

Kristine Mae
Kristine Mae
January 24, 2021

I'm here to explain how it works in QuickBooks Self-Employed, Userstephaniejpayne.

 

The budget feature is available in QuickBooks Online and QuickBooks Desktop versions only. In the Self-Employed version, the budgeting is done manually.

 

We have a guide to share about budgeting. It has six steps:

  1. Track your spending.
  2. Strive to use cash.
  3. Create an emergency fund.
  4. Diversify your client base.
  5. Consider a business account.
  6. Plan for the future.

 

You can check this article for more information: The 6 Step Guide to Self-Employed Budgeting. 

 

If you have additional questions, don't hesitate to click the Reply button below. We'll respond as soon as we can.

    U
    userstephaniejpayneAuthor
    January 24, 2021

    I am browsing QuickBooks Online, and don't see how to budget within that program either. Can you advise? Thanks!

    R
    ReymondO
    January 24, 2021

    Good day, @userstephaniejpayne. 


    Thanks for joining in this thread. I'll show you the steps on how you access the budget feature in QuickBooks Online (QBO).

     

    In QBO Plus and Advanced, you can create budgets based on your accounting data. This way, it would be easy for you to monitor, track, and compare expected income and expenses with actual income and expenses. 

     

    Here's how:

     

    1. Go to Settings and select Budgeting.
    2. Click Add budget, then enter its name.
    3. Select Next and enter your data.
    4. When you're done, click Save and close.

    Please take note that you'll have to sign in to QuickBooks as a user with permission to access this feature. 

     

    After creating your budget, you can run budget reports so you can compare them to your actual sales and expenses.

     

    1. Click the Gear icon and select Budgeting.
    2. Find your budget on the list.
    3. Click the Action ▼ drop-down list and select Run Budget Overview report or Run Budgets vs. Actuals report.

     

    You can also download a budget .csv template from QuickBooks. Use it to create your budget so all of your data is compatible.

     

    If you have further questions or concerns, feel free to reach back out anytime. Just click Reply and I'll get back to you. Have a great weekend.

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