Budget from 2019 to 2020

elledee0617

When I accessed my Quicken account, it asked if I wanted to set up my 2020 budget so I clicked yes. It never asked me if I wanted to base it on my 2019 monthly budgets, so my January 2020 budget shows my Spending allowance of $83. Is there a way to get to the screen that allows me to select my new budget to base off of my prior year's budget? Thanks

MarieBaumann

I sympathize. I find Quicken's budget creation and management tool to be confusing and cumbersome, not intuitive. Try this: Open up your 2019 budget. Click "Budget Actions" at upper right. Choose "Duplicate this Budget". Rename it as you like on the pop-up screen that appears. Then at the top where you see the name of the budget, at the next box choose "Annual View" or "Graph View". (Who ever needs to see graph view? I don't!). A\Then, at the left or right arrow, click the right arrow. This will change the year to 2020. In the next box, choose "Budget only". Good luck with this cumbersome process!

Scooterlam

@elledee0617 If you haven't already put in effort to fix your 2020 budget issue, you can delete 2020 using "budget actions" then in "Annual View" in the 2019 budget window,  "arrow right" to recreate 2020.  

At this point, hopefully, you will be presented with the option dialog you spoke of.



Backup often.

Bleuedog

I created a new budget titled "2020 Budget". I have not deleted my "2019 Budget" and when I post spending in 2020 it carrys over to both budgets. Is there a way I can isolate the 2019 Budget to just 2019 spending transactions?

Scooterlam

@Bleuedog I'm not sure why 2020 dated expenses posts to 2019 and 2020.  A hunch...have a look to see if your rollovers are turned on.   Rollover amounts will carry into a new budget year, unless you edit the rollover and set it to 0$.   Removing rollovers will isolate your budget. In your 2020 budget, go to Annual view>Details view and click on the rollover link in the Balance column and edit it to $0. Do this if you don't want rollovers to influence the new budget. Give it a test and see if this corrects your issue. See image.

Bleuedog

Thank you. I performed the tasks you suggested. I could not enter a $0 amount (I have Quicken Starter), but I could ensure that my rollover was turned off for 2019 and 2020 Budget. Then I went into 2019 Budget in the month of Jan 2020 and made sure all my budget categories were set to $0 for the entire year.
However, the funny think is that the exact amount of Spending transfers to both Budgets. There is no need for me to use 2019 except for historical research, so I'll just leave it. I just don't understand why the spending is pulled into both. Anyway, thanks for your help as the budgets are accurate for each specific year.

UKR

Budget tables in Quicken are not restricted to a single year. They are multi-year capable and can be extended to the new year without the need to create a new, separately named budget table.
Usually you can do this when accessing the Budget view for the first time in a new year. You get prompted as shown in @Scooterlam 's response above. Users of Quicken Deluxe and higher editions can also extend the budget to the next year any time by switching from the Graph View to the Annual View and then clicking the ">" button to advance the year.

If more than one named budget table exists, all of them are maintained and updated continuously whenever you enter new transactions.

Bleuedog

Thank you for the information on budgets.