This article will walk you through how group budget tracking works in our application, ensuring you can efficiently manage and monitor your group's finances. For details on how admins can set group budgets via the settings page, please refer to our dedicated article on Setting Group Budgets.
How Group Budget Tracking Works
Group Budget Tracking is a feature designed to help Employee Resource Groups (ERGs) and other organizational groups manage their financial resources effectively. It provides a centralized platform for tracking expenses, monitoring budget utilization, and ensuring that groups stay within their allocated budgets.
In order for group budget tracking to work effectively, make sure all your events are linked to the associated group. Once an event is linked to the group, the group budget tracking is done automatically with realtime updates.
How to Link Events to Groups
There are multiple ways to link events to groups:
During Event Creation: When creating a new event, make sure to select the group from the dropdown menu before publishing. This step ensures that the event is automatically linked to the selected group's budget.
Updating an Existing Event: If you have existing events that are not yet linked to a group, you can update them by accessing your event's "Details" tab and linking the relevant group and clicks "Save Changes". This update will ensure that past and future expenses for the event are accounted for in the group's budget.
Event Budget Settings: Within your event "Budget" tab, click "Manage settings" option. Choose the groups you'd like to link to your event from the dropdown menu and "Save".
Track your Group's Budget
Once you link your event to groups, the Group Budget Tab is your go-to section for all things related to your group's budget. This centralized tracking ensures transparency and easy access to financial data for group leaders and admins.
As expenses are logged, the group's budget is updated in real-time. This immediate update helps in maintaining an accurate record of available funds, preventing overspending.
Go to "Groups" page by using the left side navigation bar.
Open the Group that would like to review by clicking on the Group's card.
Navigate to the "Budget" tab.
In your Group Budget tab, you'll first see an "Overview" section. This section provides a summary of your group's budget spending, including a chart that shows spending over time and a breakdown of expenses by category or event type.
Additionally, you will see a "Budget Tracker" section. This section displays a table listing all your events linked to the group, along with their respective budgets and actual spending. The table provides easy access to each event's page; simply click on the row containing your event, and you will be redirected to the event's budget page.
This guide provides an overview of how group budget tracking works and the functionalities available in the group budget tab. For detailed steps on setting up group budgets by admins, please refer to our article on Setting Group Budgets.