Month, YTD and Last Year in One QuickBooks Online Budget vs Actual View (What Works)

The view most finance people actually want is simple: this month, year to date, the full-year budget, and last year, all in one table. QuickBooks Online doesn't build it for you, but there are ways to get there.

If you've ever managed to a budget, you know the table you want: for each line, this month's budget and actual, year-to-date budget and actual, the full-year budget, and last year's actual for context. It's how most monthly reviews run.

QuickBooks Online doesn't produce it in one report. Intuit's own support staff have said so directly: the Budget vs Actuals report doesn't support showing month-to-date, year-to-date and annual budget at the same time, and its Total column only reflects the date range you selected. Here's what you can do about it.

Option 1: Run the report twice and combine

Run Budget vs Actuals for the month and again for year to date (use a custom date range if the preset gives you the wrong budget window, as covered in this post). Export both to Excel, then line them up by account name with a lookup. It works, and it's the most common approach. The cost is that you rebuild it every month, and any account that was added or renamed breaks the match.

Option 2: Show months as columns

Budget vs Actuals can generally display columns by month (look under the report's customize options for how columns are displayed). That gives you each month's budget and actual in one report, and you add up the months for year to date yourself. It's good for seeing trends across the year, and clumsy for a month-versus-YTD review.

Option 3: Compare against last year

The Profit and Loss report can show a previous-year comparison column, so actual versus last year's actual is straightforward. Putting budget and last year's actual together is harder. One QuickBooks route is to create a new budget from last year's actual data when you set up the budget, then run Budget vs Actuals against it. That turns last year into a second budget, and since a report compares against one budget at a time, you still end up combining two reports.

Option 4: Spreadsheet Sync, if you're on Advanced

Intuit points Advanced users to Spreadsheet Sync, which pulls budget and actual data into Excel so you can lay it out your own way. It removes the copy-and-paste, though you're still maintaining a spreadsheet.

Option 5: A reporting tool built for it

Intuit's staff also suggest third-party reporting apps for more flexible budget reporting. The tradeoff is cost, setup, and whether the tool understands how your budget is organized, which is where many of them stumble when budget lines don't match accounts one-to-one. If you're weighing that route, this five-question guide to choosing a reporting tool is a quick way to decide whether you need one.

A layout worth copying, whatever tool you use

Two habits make any version of this more useful. Show the variance against budget and against last year, since they answer different questions (are we on plan, and are we growing). And keep each line drillable, so when marketing is 14% over, you can see which vendor and which invoice caused it without exporting a ledger.

Where DrillFi fits

DrillFi shows budget, actual and last year in one table for the period you choose, with variance against budget or last year. Because you map budget categories to accounts once, new accounts don't break the comparison, and every line opens down to the vendor and the invoice (here is how that drill-down works). A Monthly view gives you one column per month for any range you pick, and you can switch on budget and variance for each month; the Excel export matches it. The full-year budget and a Budget left column (full-year budget minus actual so far) are columns you switch on beside year to date, and they carry into the Excel export and the monthly package. The live demo lets you click through it on a sample company.

Frequently asked questions

Can QuickBooks Online show month, YTD and annual budget in one report?

No. Intuit's support staff have said the Budget vs Actuals report doesn't support showing month-to-date, year-to-date and annual budget at the same time, and its Total column only reflects the date range you selected.

How do I compare budget and last year's actual in QuickBooks?

The Profit and Loss report can show a previous-year comparison column, so actual versus last year is straightforward. Putting budget and last year's actual together takes two reports, because a report compares against one budget at a time.

What's a good budget vs actual layout?

For each line: month budget and actual, YTD budget and actual, variance in dollars and percent, and last year's YTD. Show variance against budget and against last year, since they answer different questions, and keep each line drillable to the vendor and invoice.

What is Spreadsheet Sync?

Intuit points Advanced plan users to Spreadsheet Sync, which pulls budget and actual data into Excel so you can lay it out your own way. It removes the copy-and-paste, though you're still maintaining a spreadsheet.

What's the downside of running the report twice and combining it?

You rebuild it every month, and any account that was added or renamed breaks the match when you line the two exports up by account name.

QuickBooks menus, report behavior and plan features change over time, and this post describes them as of its publish date. Check each step against your version. Intuit and QuickBooks are registered trademarks of Intuit Inc. Used with permission. DrillFi is not affiliated with or endorsed by Intuit.