Gerrie

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.