 We're doing our budget this time. We talked about the budget overview last time, remembering that the budget data input is in the cog up top and then in the budget. If you don't enter the budget this way, you're not gonna have any budget reports. QuickBooks is quite good at running the budget reports comparing actual to budget, but to actually construct the budget, I would export past data from Excel, I mean from QuickBooks to Excel and start there and then make changes to our budget and then import that data back into the system so that we can then use and run budget versus actual. Now the budget we usually focus in on the profit and loss. We could think about where we're gonna be at the end of balance sheet as well, but our main focus is usually on the performance statement, the profit and loss statement. So we could export this PNL or something like it to Excel and start to manipulate that. However, I think it's a little easier to try to just use less subtotals here. So I wanna export something that has less subtotals. So for me, oftentimes I like to export the trial balance and then just trim it down so I don't have to deal with all these subtotals. So let me show you what that looks like. So I'm gonna right click on the tab up top, duplicate it and then I'm gonna go down to the reports on the left hand side, the reports, close up the hand boogie, type in trial balance, trial balance, and there it is. So I'm gonna make a year to date or just for the first two months trial balance. I'm gonna go from 010123 to 022823. I'm not gonna do the month by month side by side, just run it as is. There's our trial balance for January and February. Now for our practice problem, we have entered just two months of data. I'm gonna export this two months of data and I'm gonna pretend basically that came from the prior period so that we can budget out for 12 months, January through December so that when I import it back into QuickBooks, we can do a side by side comparison for January and February. So I'm gonna imagine this is past data here, which it is in our practice problem. We're gonna then export it to Excel and then I'm gonna trim it down to just seeing the income statement numbers down below and I'm gonna try to format it so income is positive and expenses are negative so I can get down to my net income number without all the subtotals and junk in it. So let's do that. I'm gonna export it by going to the dropdown and just export to Excel and then I'm gonna pull that into my folder over here. So I've got my folder that I'm gonna put that in. So I like to do that first. So I'm just gonna pull that into my folder and I'm gonna call this, I'm gonna make it large, rename it, right click and let's rename it and I'm gonna call this my budget for 2022, let's say, 2023, let's say. Okay, then I'll open it up and then I'm just gonna manipulate this Excel sheet to just be showing me the income statement accounts. Now I know this is not an Excel course so I'm gonna do this fairly quickly but this is how I would think about the budgeting process.