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Budget Management

The Website allows website administrators to enforce budget management for their users. Budget management provides the customer the option to manage buyer spending, and enforce an approval once a predetermined budget amount has been reached.

 

Budget period setup

Use Budget Periods Setup to create the periods for a budget. Below are the steps for creating a 12-month calendar year budget, a quarterly budget, and a fiscal year budget that starts in April. When creating multi-period budgets, any unspent dollars from previous months roll forward to the current month. For example, if your quarterly budget is $500:


Q1 - $500 - Spent $250 (Buyer 2 submit without approval), carrying over $250 to the next quarter

Q2 - $500 - Spent $150 (Buyer 2 submit without approval), carrying over ($350 + $250 from previous quarter)

Q3 - $500 - Current day

Q4 - $500

Buyer 2 would be able to spend $1,100 in Q3 before they must submit it for approval.

Creating a standard 12-month calendar budget


This example creates a monthly budget for the standard 12-month calendar year.

  • Go to website/storefront > My Account > Budget Management.
  • Select Budget Setup.
  • Select the budget year from the Budget Year drop-down.
  • If necessary, clear the Budget Year End field using the calendar window.

       

  • Click Assign Calendar Months.
  • Click Save.

The result is a populated list of each month for the selected calendar year.

 

Creating a quarterly budget


This example creates a quarterly budget using the standard 12-month calendar year.

  • Go to website/storefront > My Account > Budget Management.
  • Select Budget Setup.
  • Select the budget year from the Budget Year menu.
  • If necessary, clear the Budget Year End by clicking into the field and then clicking the Clear button at the bottom of the date selector:
  • Click into the Start Date field for Period 1 and using the data selector, select Jan 1 of the desired year.
  • Click into the Start Date field for Period 2 and select April 1.
  • Continue in this manner until all four periods are populated.
  • The end result should look similar to this example:

     

  • Click Save.

 

 

Creating a fiscal year budget

This example creates a fiscal year budget that begins in April.

  • Go to website/storefront > My Account > Budget Management.
  • Select Budget Setup.
  • Select the budget year from the Budget Year menu.
  • Clear the Budget Year End by clicking into the field and then clicking the Clear button at the bottom of the date selector:
  • Click Assign Calendar Months.
  • Because the fiscal year starts on April 1, 2019, delete the first 3 budget periods so April is in the first position.
  • In the Period 10 Start Date field, select 1/1/2020. Use the right arrow in the date selector to progress to the next month.

    

  • Continue in this manner until all 12 periods are populated.
  • The End Date for the 12th period may be incorrect, and is not an editable field.

    

  • To fix this, scroll to the top of the page and enter the proper Budget Year End date. For this example, select 3/31/2020.
  • Scroll back down to ensure the date has been corrected.

    

  • Click Save.