 QuickBooks Online 2024 budgeted income statement export to excel and modify part number two. Get ready and some coffee because we're moving on up with QuickBooks Online 2024. Here we are in our get great guitars 2024 QuickBooks Online sample company file we set up in a prior presentation opening the major financial statement reports as we do every time the reports are located on the left hand side in the favorites right clicking on that balance sheet to open a link in a new tab right clicking the P and L otherwise known as the income statement open a link in a new tab same with the trustee trial balance the TB if you don't have that trial balance in the favorites you can search for it we're going to tab to the right close up the hamburger we'll change the range we're going from 010124 tab let's go to 022924 tab and then select the months so we can see it on a month by month and run it and then we'll tab to the right this is the report that we're working on here or working off of at least the income statement the profit and loss closing the hamburger changing the range let's start off with 010124 tab 022924 tab selecting the drop down looking at it from a month by month breakout and run it and then we'll tab to the right same thing with the trustee trial balance closing the hand buggy changing the range going from 010124 tab 022924 tab we will run to refresh and hold on a second I didn't do the months breakout let's do the month by month breakout and then run it okay let's go back to the income statement we're looking at our budgeting process thinking about the budget report that we first think of usually that being the income statement or the profit and loss whatever you want to call it because that's the timing report that's going to measure performance so we're going to judge how far we're going to go how high is income going to go next time how high is the expense is going to go how high are we going to get on that net income let's raise the bar people let's raise the bar so how do we do that well the first thing would be that maybe we want to export last year's income statement into excel so that we can make adjustments to it there taken into consideration not only last year's data but also what we think is going to happen going forward what changes we're going to make so that we can improve things and we're going to stop listening to crazy people right from the entertainment company stop listening to you know the the crazies that keep telling you like that that if you do stupid things your income is going to go up we've seen the results we've seen the results and we're we see that the budget is not is not how what actually happened and then we make changes so we're going to make decisions that make sense now and then once we do that we'll adjust the budget we'll import it back into QuickBooks by going to the tab to the left or going to the icon up top and then we'll go into the budgeting and then we'll insert the budget so we can run reports like budget versus actual now when we export the budget to excel we could have used the income statement here if we had a whole year's worth of data and give the whole income statement but we're going to export the total starting with the trial balance because the trial balance in our case is easier so so i would like to export the total so i make this totals instead of months and we export of the entire trial balance and then just removed everything that is not the income statement and then we made the the revenue positive numbers the expenses negative numbers and we result in a nice easy income statement without any subtotals that looks like this we double checked that it's okay because the net income down here ties out to what's a net income for the total profit and loss for january and february that being 1324 we rounded it 1324 that's our starting point okay so now what we're going to do is we're going to use that and i'm going to imagine like basically that's the last two months meaning november and december of last year and it would be and so what i'm going to do is try to take the average of those two and say that's going to be my my average income on a monthly basis going forward that's my baseline and then we'll move from there so i'd like to make headers that will have the months up top so to do that one way i can do that is i could select the entire column or row one right click and insert and that will shift down so that i so that i have the headers and then i can put the columns or the rows underneath it so i'm also going to make a skinny c to separate so i'm going to put my cursor in between the c so that i can separate like my budget data my on the left that's going to help me create my budget on the right or my actual data on the left to help me create my budget on the right i'm going to type in jan feb and quickbooks should be able to read that and see that as months so if i put my cursor on those two items and then on the fill handle drag it to the right uh this isn't quickbooks this is excel excel should see and be able to predict that we want month by month there it goes on up to december and boom easy peasy so let's go ahead and center this now we're going to go to the home tab of alignment let's center it i usually that's not center that's not center what are you doing oh hold on uh i'm not my soundboard i'm still not good at it and now i messed up my whole thing okay sorry about that i'm working on it it's going to be good once i know how to do it right so any case i'm going to go to the home tab font group i like to make it black and white on the headers so i know it's a header and then all i'm going to do is my starting data i'm just going to take this is going to equal that which is for two months and then i'll divide it by two right so i'm going to say if it was two months two hundred dollars i'm going to start with a baseline of each row for that for that billable expense income to be one hundred dollars that's what we're going to start with as our prediction going forward so i would like to copy this across to start with uh how can i do that well a couple ways we can do that i could go to february and just say equals the one before it and i kind of actually like that method better because if i do that then then if i make a change here right everything after it changes the other methods you could use is to say i'm going to take this and because this is coming from my data outside of where i'm currently working it's coming from my data source i would make it f four or absolute dollar sign before the b and the two and then divide it by two and then i can copy that across and it will not move this cell so but the problem with that is if i change this one for example to 50 it doesn't change the ones after it which is probably more likely what we would like to happen so i actually like this first method better i'm going to say this equals this number divided by two this is my monthly amount and then in february i'm going to say this equals the one prior to it and then i can copy that formula across and then each month will be equal to the one prior to it and so that if i change any number along the