leafleafleafDocy banner shape 01Docy banner shape 02Man illustrationFlower illustration

Budgets/Budget Templates

Estimated reading: 2 minutes 7 views

Budgets allow you to ensure that your branches are not spending too much money on certain things. They are associated to accounts, so, for example, you may set up a budget for your ‘IT – Software’ account, and if somebody tries to buy some software that takes the budget over, it will alert them that the budget it over and ask if they would like to proceed. If they decide to proceed with the purchase, an approval will be sent to the person marked as the ‘Budget Approver’ in the organisations general settings.

A budget is created from a ‘budget template’. Budget templates allow you to set up a recurring budget that gets created in a certain time period, e.g. every month or every year.

To add a new budget template go to 'Organisation' > 'Links' > 'Budget Templates' > 'Add New'

From here you can fill out the details of the budget template. Please note the ‘Rolls Over’ toggle. When selected this will mean that budgets roll into the next one (e.g. if you have a budget for $10,000 every month and the first month only $8,000 gets spent, then the next month it will have a budget of $12,000).

Once a budget template is set up, it will automatically get created based on the ‘start date’ put in for the budget and the period it is for.

If you have created a budget template for a time period that is current (e.g. you create a budget for FY21-22 and it is already part way through that period), you can go into the budget template profile and click the ‘Create Budget’ button to get it started.