Let me share some information about how budgets work in QuickBooks Online (QBO) Plus and Advanced.

The Add budget button was already updated to Create budget to help you with comparing your actual income and expenses with your budget. Also, the Profit and loss and Balance sheet are the two kinds of Budget type. For Profit and loss, we have the option to set the default for the Annual or Fiscal year. For the Balance sheet, we can choose Yearly, Quarterly, and Monthly. See the screenshots for your reference:

If you need to run a budget where you can change the period to Compare reference data by yearly, quarterly, and monthly, just choose Profit and Loss. Here's how:

1. Go to the Gear icon on the top menu. Then, select Budgeting.
2. Click Create budget.
3. Choose the Budget type: Profit and loss.
4. Select the fiscal year you're creating the budget for.
5. Click the Budget format: Consolidated budget or Subdivided budget.
6. For a subdivided budget, select what you want to subdivide by, like location or class.

 You can check out these articles to learn more about managing budgets and personalizing your reports in QuickBooks:

• Customize reports in QuickBooks Online
• Create budgets in QuickBooks Online.

I'm just a reply away if you need help with budget reports or anything else related to QuickBooks. I'm just here to help. You have a good one.