Use QuickBooks to Create Budgets

Use QuickBooks to Create Budgets

Use QuickBooks to Create Budgets : Multi-thousand tips to make your life easier.

Bookkeeping is such a chore. Imagine trying to make sense of pennies, cents, and dollars, and in the end making sure all these add up! Good thing this tedious job can become easier with the introduction of QuickBooks! QuickBooks is software designed by Intuit, Inc. The software helps you manage budgets—budgets that you need for your business to function as well as for maintaining financial integrity in bookkeeping. Here’s how to use QuickBooks for budget creation.

• Meet the system requirements/configurations. QuickBooks, as you know, is software that you need to download onto your computer. Thus, there are system requirements/configurations that you must meet, and these are:
  • 1.8 GHz processor
  • 3.5 GB of disk space
  • 256 MB of RAM (single user only)
  • 512 MB of RAM (more than one user)
  • High-speed Internet connection
  • Latest version of IE
  • MS Word or Outlook 2000
• Go ahead and buy the latest version of QuickBooks. That would be Intuit QuickBooks Pro® 2011. You can look for this online or at the computer store that you often go to. Price range is from $180.00 to $230.00 (promotional offer versus regular price).
• Determine which QuickBooks suite you need. You only need the basic package when you’re just working on simple budget plans that fall into the earnings and expenses category, or you can opt for the business package when your budget requires reports and statements e.g. profit and loss, capex, and so on.
• Follow the lead of the installation wizard. After purchasing the QuickBooks suite that fits your current requirement, install the software on your computer. Just insert the installers into the appropriate drive on your computer and follow the instructions from the installation wizard. Just a few clicks and quite possibly some time of waiting until the installation has been completed. By the way, you might have to restart your computer for the installation to take effect.
• Create a document of what you want to see in QuickBooks. Here’s how it works. Pull up a blank MS Word document and begin to rationalize the entries or columns that you want to see created in QuickBooks. Divide the columns into something that closely resembles an accounting/bookkeeping report. Then, opposite or on top of each column, type in the categories that you think should be relevant to the creation of your budget.
• Access the QuickBooks menu. You are required to log into the QuickBooks page. Once you’re on the page, click on “Company Menu” and then, “Budgets.”
• Populate the fields on the template. You must fill in the required fields that will necessitate the creation of your budget.
• Check for accuracy and mistakes. Review all the numbers that you have entered per category. Feel free to adjust the figures accordingly.
• Enter as much information to get the full financial picture. Refer to the MS Word document that you created prior for additional entries that will help you come up with a complete financial landscape.

QuickBooks is totally easier to use than the old way of bookkeeping. Once an initial template has been generated, you can just enter the figures and the software does the rest for you!