On the Budget Checking page, the Organisation Administrator can set a check period for the budget:
Let's see below how a budget is calculated for each period, taking into account the respective QuickBooks Online settings.
The budget is set to 200 GBP each month during financial year for Category 100 Bank Charges and Class Dev:
The financial year starts in March 2024:
The available options for budget periods are:
1 month
Bills/Purchase Orders/Expenses are checked against the particular budget set for the month in which the Purchase Orders/Bills/Expenses were created:
The Purchase Order in our example was created in March. The budget in QuickBooks Online for March for Category 100 Bank Charges and Class Dev is 200 GBP:
Financial quarter (three-month period which includes the month of Purchase Order/Bill/ Expense creation, counting from the start of the financial year):
The Purchase Order in our example was created in March. Starting from the beginning of the financial year, the financial quarter that includes March is the one comprising the months of March, April, May. In QuickBooks Online, the budget for March, April, May and Category 100 Bank Charges and Class Dev is 600 GBP:
Half of financial year (period of six consecutive months counting from the start of the financial year):
The Purchase Order in our example was created in March. Starting from the beginning of the financial year, the half of financial year that includes March is the one comprising the months of March, April, May, June, July, August. In QuickBooks Online, the budget for this period for Category 100 Bank Charges and Class Dev is 1200 GBP:
Financial year (a 12-month period counting from the start of the financial year):
The Purchase Order in our example was created in March, the financial year starts in March. In QuickBooks Online, the budget for this period for Category 100 Bank Charges and Class Dev is 2400 GBP:
YTD (rolling budget from the beginning of the financial year to the month of Purchase Order/ Bill/ Expense creation):
The Purchase Order in our example was created in March, the financial year starts in March. YTD therefore refers to the period of March-March. In QuickBooks Online, the budget for this period for Category 100 Bank Charges and Class Dev is 200 GBP:
Year with a particular start month (12 months from the selected start month):
The Purchase Order in our example was created in March, the year starts in March. Year therefore refers to the period of March-February. In QuickBooks Online, the budget for this period for Category 100 Bank Charges and Class Dev is 2400 GBP:
YTD starting from a particular month (rolling budget from the selected month, here it's April, to the current month):
The Purchase Order in our example was created in March. So, the YTD period is April to March. In QuickBooks Online, the overall budget for this period for Category 100 Bank Charges and Class Dev is 200 GBP: