Budgeting without repeated data entry?
When I worked in public accounting many business and nonprofit leaders either did not utilize the Quickbooks budgeting module or input unrealistic assumptions. I have always been a strong believer in developing a working budget that updates in real-time in response to changing situations.
A budget in Quickbooks should not be input in January and ignored until December. The budgeting module should be a living tool that is updated in response to changing assumptions.
I recommend the creation of a budgeting model in excel that can be affected by different revenue and cost drivers… so what you might have assumed in January may not be true in May or November. Quickbooks can read the excel information and adjust itself to those changing conditions so that you do not have to repeatedly re-do the data entry inside Quickbooks.
I believe its important to have quality budget information inside Quickbooks without the hassle of the data entry.