I am treasurer for our school's PTO, and I use QuickBooks Premier Nonprofit Edition 2010.
I am trying to track budgets of two different types, and I can't figure out how to do it properly in Quickbooks.
The first type is simple: we decide how much money a committee can spend, and track expenditures. For example, our Family Fun Committee has $800 to spend each year, and they are not responsible for any fundraising.
I have an expense account called "PTO Expenditures:Family Fun". I have created a memorized report that displays all expenditures on that single account for the current school year. Right now, this report says that the Family Fun Committee has spent $543.69 so far, leaving them $256.31 to spend.
But how do I tell QuickBooks that this account has a budget of $800 for the fiscal year? I have wandered around the "Planning & Budgeting -> Set Up Budgets" menu item, but I can't see it.
The second type is more complicated. The budgets for some committees are set by their fundraising efforts. These committees have multiple QuickBooks accounts; for example, "Fundraising Income:5th Grade", "Fundraising Expense:5th Grade", and "PTO Expenditures:5th Grade". How do I combine these three accounts, and set a budget for the net?