How to Use Quickbooks to Create Budgets

by Contributor

Use QuickBooks to design and layout a budget. A budget is defined as a projection or forecast of how much money is required to efficiently run your business and how much you should expect to have at the end of the month after all expenses are paid. Create a budget to illustrate all of your expenses and income.

Purchase the latest copy of QuickBooks. Check your local office supply stores or online.

Review product info and chose a product that best suites your business needs or personal needs. Chose from a full version or chose QuickBook's Online Edition.

Download or install the desired QuickBooks version to your personal computer and run the program to finalize installation.

Establish needs in creating a budget. Obtain a clear knowledge of what your goals are as you plan to create a budget using QuickBooks. You can use budgets to estimate future income and expenses and to create the unpredictable scenarios.

Gain a clear understanding of how a budget should work. Generally, a budget is created to measure the health of your business during a specific period of time.

Begin formulating your custom budget in QuickBooks.

Log in and then view "Company menu" and select budgets.

Input expenses and income line by line to initiate your budget.

Review and adjust numbers to accurately project your business expenses, sales and end of the month totals.

Analyze total start-up costs, cash required for necessary business expenses, day-to-day maintenance and operating costs, revenues needed to support business operations and expected profit.

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