Our Nonprofit has two fiscal years. One is Jun-Jul for our County grants and Oct-Sep for our Federal/State Grants. We are wanting to enter budgets by class, our Fiscal Year in QBDT is set for Jun-Jul. I can enter my County Grant budgets by class. To enter the Fed/State Budgets, can I change the Fiscal Year to Oct-Sep, then change it back to Jun-Jul? Then run my reports using the appropriate date depending on the Grant funding?
Hello, Gina.
Good to have you back. I'm here to clarify about the fiscal year changes for your budget.
Yes, that's correct. To elaborate, the months on the budget sheet creation screen is tied with the fiscal year you've set in QuickBooks.
So, you would have to keep changing the fiscal year as you create different grant budgets for each period.
When running reports (budgets or any financial reports), you'll simply want to change the date range (the Dates drop-down menu) according to the fiscal year data you want to see.
Though, you can still toggle and change the fiscal year settings if you prefer it that way.
If you need help running reports or creating your budgets, feel free to check out these articles:
Are you ready to reconcile your books? This article can guide you through the process: Reconcile an account in QuickBooks Desktop.
Feel free to reply here if you have more questions about managing your budget or running other reports. I'm always here to help.
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