Budget Creation using prior year actuals

mgmcpa56

I have not created any budgets and have transactions dated in 2022. How would I create a 2023 budget using 2022 actuals? I am using Quicken Classic Business & Personal, version R53.26.

Bob_L

I don't know if that is doable, but wonder why do you want to do that now? (You can of course create a 2024 budget now based on 2023 actuals.)

mgmcpa56

Thanks Bob. I would like to be able to use 2022 actuals to build a 2023 budget. And the reason I’m doing it now is to use the next few weeks to organize, review, and revise as needed in order to begin 2024 accurately. If I am following the directions correctly, Budget creation allows one to use current year budget (or actual?) and post as budget numbers in prior years. I don’t understand what that accomplishes. It seems backwards.

Chris_QPW

Set your system date to 1/1/2023.

Start Quicken and create a budget. Quicken will use the 2022 number for it.

Bob_L

You can create a 2024 now or in January by advancing the year indicator in the annual view on the budget tab to 2024. It will then give you several options, one of which is to create budget amounts equal to actuals. You can reorganize as you go through the year as much as you like so I would suggest going ahead with 2024.