QuickBooks allows you to create budget base on either Profit and Loss accounts or Balance Sheet account. From the Company menu, select Planning and Budgeting then follow the Set up Budget wizard to create your budget.
In the Create Budget wizard, select your financial period for your budget and check the radio button for either Profit and Loss or Balance Sheet budget type.
QuickBooks budgeting allows you to base on your previous year financial data or starts budget from scratch. Select your option and starts entering your data in the Create Budget page.
Once budget created, you can starts comparing your actual data vs. your budgeted data.