Update Budgets for a range of G/L Accounts This will set budgets according to your selections below. The best time to set new budgets based on actual amounts from the previous year, is EITHER: a) at the end of your fiscal year after all activity has been posted, OR b) any time during the first month of your new fiscal year. NOTE To edit budgets for individual accounts, go to the G/L menu #1, Edit/View the desired account, and use the Edit Budget button.