This article will guide you through managing organizational budget settings via the settings page, a task exclusively available to admins. Organizers do not have the permissions to manage overall budget settings.
In order to navigate to the budget settings, first click on "Settings" page from the left navigation bar. In the Settings page, select the "Budget" tab.
Currencies
Admins can set the allowed currencies for the entire organization. This ensures that all financial tracking aligns with the organization's preferred currencies.
Click "Edit" on Currencies section.
Select the desired currencies from the dropdown.
Click "Save" to apply changes.
Expense Categories
Expense categories allow admins to organize and track spending more effectively by categorizing different types of expenses. Customizing expense categories ensures clear and accurate tracking of where the group's funds are being utilized.
Admins can add new expense categories to tailor the budget tracking to organization's specific needs. You can also rename or delete existing auto-populated categories. The default categories are "Audio-Visual (AV), Catering, Decor, Entertainment, Gifts, Marketing, Staffing, Travel, Venue, Other".
If you'd like to add new categories, click "Add categories" option in the Expense categories section.
Add your desired categories and click "Save".
To rename or delete any of the existing categories click on the Pencil icon.
Rename the category or delete as needed and click "Save" to apply changes.
Budget Periods
The annual budget period allows admins to align the group's budget tracking with the organization's fiscal year. By default, the budget period starts in January, but admins can change the start month to match their company's fiscal year. This ensures that all financial activities and budget tracking are consistent with the organization's financial reporting cycle.
Click "Edit" to change the starting month.
Select the month from the dropdown.
Click "Save" to apply changes to your budget period.
Group Budgets
Group budgets allow admins to allocate and manage financial resources for different groups within the organization. This section lets admins set and adjust budgets for each group, define the tracking currency, and ensure precise expense monitoring. This helps maintain financial discipline and transparency across all groups.
Click on "Manage" under the group budgets section. This will open a new page listing all your existing groups.
Input the desired budget amounts for each group.
Change the default USD currency if necessary.
Once you have set the group budget amounts and currencies, click "Save".
Important Considerations:
Ensure the group's currency matches the event currency for linked events.
If a group has organizers across different countries, consider creating separate groups or consolidate all expenses in a single currency.