New GL account or new FY budget first then add the new account?

It's best to create a new account first, @JasonB45. Let me guide you through the steps.

To begin, open your QuickBooks Desktop (QBDT) company. Then, follow the steps below.

1. Go to Lists and choose Chart of Accounts.
2. In the Account dropdown at the bottom of the screen, select New.
3. Tick the Expense radio button and click Continue.
4. Fill in the necessary details. Then, click Save & Close.

Then, proceed to create a budget. You may refer to this article for guidance: Create a budget or forecast in QuickBooks Desktop.

Additionally, you check this article about personalizing your reports: Customize reports in QuickBooks Desktop.

Let us know if you have other questions about the budget feature of QBDT. We'll be here to lend a hand.