Once you've setup your budgets, it's time to start enabling your employees to spend. In this article, we'll walk through adding people to a budget, modifying budgets, reviewing the history of a budget, and a few other important options to get you up and spending.
Creating a Budget
To create a budget, open the Budgets page and click the Create New Budget button. When creating a budget, you can select a budget limit, interval, roster, and settings. Learn more about creating budgets in Divvy.
Here are a few items to consider when creating your budget.
A budget limit sets how much can be spent during the budget interval or for the lifetime of the budget if there is not an interval. You can always increase or decrease the budget limit, so don't worry if you need to change it later.
When creating a budget, you can select a budget interval, which determines when the budget limit resets. Budget limits can reset daily, weekly, monthly, quarterly, yearly, or never.
If you select a daily reset, budget funds reset at the beginning of each day. If you select a weekly reset, budget funds reset on Monday each week. If you select monthly, quarterly, or yearly intervals, budget funds reset on the first of the month according to the interval that you select. Budget intervals cannot be edited after the budget is created.
If you choose an expiration date, that budget will automatically be retired when that date occurs and no one will have access to the funds in that budget after the expiration date. The budget will expire at end of day (11:59 PM in your timezone). Learn how to unretire a budget.
You can set shared funds settings on the budget. Shared funds allow all members of a budget to have access to any available funds within the budget. This means that budget members don’t have to request funds every time they need extra, but budget owners still get to set spending limits. To learn more about shared funds, click here.
Managing people in a Budget
There are two role options for budgets: Owners and Members.
Owner: An Owner of a budget can control the allocation of funds in a budget and assign them to either Members or virtual cards. Only Budget Owners and Admins can create virtual cards. You'll need to add at least one Owner for each budget, but you can also choose to add multiple people as Owners of a single budget.
Member: A member has limited functionality in a budget. Members can only access funds once they have been assigned to them by a budget owner or request funds if they need more.
You can choose to add people to a budget when you're creating the budget or you can choose to automatically add new people to a budget when you're creating the budget as well. To do this, just click the "Auto-add people" checkbox.
After you've created a budget, you can always edit the members. You can add someone, remove them, and change their role at any time by clicking on the pencil icon.
To add a member after budget creation, click the pencil icon below the budget name. Then simply search for and/or select new people to add.
You can also edit the role of someone in a budget, switching between member and owner.
You are also able to remove people from a budget.
After you’ve created a budget, you'll want to assign funds so that spenders can spend.
Spenders can always request funds from you if they need to spend more than you have allotted to them. Don't worry, they'll only be able to spend the additional funds once you approve the request.
Approving Fund Requests
Divvy is built to offer flexible control. So while you may divvy budget members specific amounts, budget members can easily request more funds if they need them. You will have the opportunity to review these requests, and approve or deny them--ensure you maintain ultimate control.
Requests will show up as alerts:
You can either approve or deny the request:
Knowing what's Spent and available in Budgets
We know how important it is to ensure that you and your team always has access to the funds they need. From anywhere in a budget, you will be able to quickly see:
What the budget limit is
How much has been spent
The total balance of funds that have been allocated to member/vendor cards that is available to spend
The total amount that is available to be spent or allocated to budget members/vendor cards
Spent: The total of all cleared transactions within the budget
Assigned: Funds that have been allocated to people and vendor cards in a budget. This represents money available to be spent from the budget at that very moment.
Available: The remaining funds in a budget that have not been assigned to a person or virtual card.
Modifying a Budget
As you get a better idea of your monthly spend you can easily update your budgets to better reflect this.
Navigate to the Budget tab and select the budget you are wanting to modify, then select the budget settings icon in the top right corner:
From here you can edit the budget name, the budget limit, budget members/owners and the expiration.
Reviewing budget history
If, as an Admin or Budget Owner, you've ever wanted to see how funds were allocated in a budget, budget history is for you! The budget history screen will ensure you can see how funds have changed in your budgets. You can see the history of a budget on web or mobile!
How to find Budget History
For any budget where you are an Owner, or if you are an Admin, click the three dots in the upper right hand corner of the Budget page. From here, click on "View budget history".
A screen with a list of changes to that budget will appear. If you or a Budget Owner made bulk changes (e.g. sent multiple people funds from a budget), you can click the "Show more" link, and you'll see who received what amounts.
What's captured in budget history
Divvy will automatically capture data to show you the changes to your budgets. We'll keep a record of:
Who funds were sent to
What amount was divvied out
Any fund requests from that budget
If requests for funds were approved or denied
You can also see the history of funds as they relate to an individual. Per Member of a budget, Admins or owners can see:
Funds they were sent
If a fund request was approved or denied
A few notes
To see the history of a budget, you need to be on our newest version of Budgets. An easy way to tell if you are is if you can see budget periods (e.g. monthly periods). If not, please reach out to your CSM.
You will only be able to see the history of how a budget has changed starting August 4, 2021.
Now that you know how to work with budget, let's talk about training your budget members and spenders in the third article of this series.