A shared budget eliminates the need to rely on employees to record expenses in a timely manner and manage multiple purchase requests at once. A single budget can be shared across multiple cards, which means your team is coordinating expenses in real time.
Owners and admins can click Budgets under the Admin tab to enforce a budget for employees or cardholders.
Name your budget, select the time frame or period of the budget, and choose to prevent overspending once the budget ends by either stopping enforcement or suspending spending on the cards.
Once a time frame is set, add a budget for the time period by clicking Add Budget. Select from any custom fields or location, add the dollar amount, and a short description.
After the budget is selected, any cards already associated with a custom field or location will automatically be applied to the budget. You can create a sub-budget, view any cards or transactions associated with the budget too.
Budgets are useful to easily control expenses across a group of people or team over a certain period of time. This is handy for event management, recruiting, or even vendor payments.
For example, if your team needs to recruit new members you can enforce a budget across your human resources department. If your team needs to travel to recruit new members, you can split the budget for any flights and allocate the rest for miscellaneous or other expenses.