Ans: Yes, it is. In fact, QuickBooks desktop and online have built in features to help you with creating forecasts and later analyzing them against your actual business performance. You can use the option to create a forecast using last year’s data, enabling QuickBooks to automatically calculate the type of results you’re going to see in the future based on past results. Or you can choose to create a budget from scratch. We recommend that if you’re using QuickBooks for the first time, then you should create a budget from scratch, but if you’ve past year’s accounting data available within QuickBooks, then you should go with forecast on the basis of last year’s data.