Question: We're a non-profit with several projects that have different budget years. Is it possible to change the fiscal year whenever we need to run a report for an individual funder and then switch it back to calendar year?

Answer:
A better idea is to use estimates instead of budgets for multi-year projects.

1. Add a customer/job for the project
2. Set up items for each of your reporting categories
3. Enter an estimate (you may need to turn this function on under Edit - Preferences - Jobs & Estimates - Company Preferences)
4. Use items instead of expenses on all your project transactions

Note: there's no item field on journal entries but you can write a $0 check for any journal entries you need. The debit is positive, the credit is negative. Just remember to use the items tab. Then you can use a Job Estimates vs. Actual report (which is multi-year) instead of a Budget vs. Actual report (which is single year) for reporting. 

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Written by Ruth Perryman, CMA, CFE, CFM, MBA, DPA (ABD)

Ruth is the president of The QB Specialists, an Intuit Solutions Provider that has helped thousands of businesses throughout the United States, Canada and even the Caribbean get the most out of QuickBooks since 1996. Ruth has over 20 years of industry experience, including 5 years as a Chief Financial Officer. She is an Advanced Certified QuickBooks ProAdvisor and a member of Intuit’s Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and Enterprise.

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