How To Use Quicken To Create Budget For You?

Create Quicken Budget Report

Quicken is leading the market for many years and the ultimate blend of its features have gained immense popularity among users. But there are some features which many of us aren’t aware of. One of its less-popular yet intuitive features is its “Budget” tab. If you are Quicken user and exploring its features, you must try out the “Quicken Budget” feature. This will allow you to create and set a budget for an individual and enterprises for better outcomes.

Let’s learn How to create a budget with Quicken

Automatic Budget Generation:

Quicken can design a budget for you by analyzing the last transaction records. The automatic budget feature is perfect for those who are using Quicken for more than a year. The automatic budget created by Quicken budget software is quite straightforward and based on your last five spending and investments.

Quicken lets you specify your preferences and requirements for your budget. Moreover, adjusting your spending target is quite easy, just click on the bar graph instead of going into the budget setup to make changes.

Exclude Transactions to Regulate Budget Report:

It is advisable to delete transactions which have taken place only once, because it may generate an irregular and less authentic budget for you. So, only include repetitive transitions to your budget so that you get a more reliable outcome. But, always check twice before excluding transactions as it can leave a great effect on your budget.

Categorize Your Transactions:

Dividing your transaction into various categories would help you monitor your budget more efficiently. You can choose specific categories for your budget and exclude the rest.

How Are Categories related to Budget?

The categories you specify for your budget, give you a straightforward approach to view and monitor the budget. Every category group has particular sets of income and expenses categories, which make the budget management much easier for you. Though the automatic budget utilizes the commonly occurring categories, you get the option to remove or specify particular categories.

Now let’s go to the steps which you need to follow in order to create Budget in Quicken:

  • Open Quicken and go to the “Planning” tab.
  • Press the “Budgets”
  • Now click “Create New Budget” under “Budget Actions” tab.
  • Name your budget.
  • You can adjust the “Advanced budget settings” as per your requirements.
  • You can choose the Budget Year. Quicken will categories your transactions from the month you specified to the next 12 months, and create a budget accordingly.
  • Now Click Ok to create a budget.

Undoubtedly Quicken is the best personal budget software for both personal and professional users who are struggling to manage their earnings, expenses, investments, and savings. The budget created by Quicken is an ultimate way to regulate your financial aspects. Since emergency never knocks the door, so one should always have a budget for better savings in same earning. If you are new to Quicken and wants a guide you on the right path, you can contact Quicken support phone number to get round the clock assistance along with essential tips.

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