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RE: [ERROR] It's a list or transaction that is not supported by the IIF import process
Yes, this is happening because the new "improved" import was not coded to include budgets. It's as if the development team in India didn't even know they existed.
I don't know why the intuit employees posting here don't know this. All they had to do was try it and they'd get the same error message. Everyone does.
This is just one of many errors with the reviewed import process. To import budgets, use the old method, which Intuit left in the code, but you have to access using the little link at the bottom of the import window.
For steps, see BRC QuickBooks 2019+ IIF Import Changes and Recommendations