Create budget as an Admin
Admin can create budgets for projects, clients or teams, and set spending limits and controls to prevent overspending.
To create a budget in your Aspire Account, follow the steps below:
1. On your Aspire dashboard, click "Budgets" in the left navigation bar (web app) or click "Menu" and choose "Budgets" (mobile app).
2. Click on "+ new budget" on the top right-hand side
3. Provide the details for your budget, including the budget name, purpose, and the option to add a budget icon if desired, then click "Continue"
4. Add the spend limit currency and amount
5. Tick the check box to enable sending alerts to the admins once the budget limit reaches 80%
6. Select other Source/s of Funds (currency will show based on your active debit and advance limit accounts)
Note: If you tag source/s of funds in your Budget, transfers, cards and bills linked to this budget can be drawn from any of these sources of funds.
7. Choose the frequency as to when the budget will refresh, then click "Continue"
Recurring - refresh the spending limit every month or quarter
One-time - deactivate the budget once the spend limit is reached
Set an expiration date - decide when the budget is deactivated
8. Assign Budget Owners. Click "Continue" then "View budget"
You can now add more budget members; click here to see more on budget members and assign virtual cards.
Request budget as Finance or Employee user
Finance and employee users can request budgets for projects, clients or teams for different purposes, and set spending limits and controls to prevent overspending. The requested budget will then be created upon their Admin's approval.
To request a budget in the Aspire Account, follow the steps below:
On your Aspire dashboard, click "Budgets" in the left navigation bar (web app) or click "Menu" and choose "Budgets" (mobile app).
Click on "+ New budget" on the top right-hand side.
Then, choose “Request a budget”.
Provide the details for your budget, including the budget name, purpose, parent budget (if applicable) and the option to add a budget icon if desired, then click "Continue".
Choose the spend limit currency and amount.
Choose the Source(s) of Funds of this budget*.
Choose the frequency as to when the budget will refresh, then click "Continue".
Recurring - refresh the spending limit every month or quarter
One-time - deactivate the budget once the spend limit is reached
Set an expiration date - decide when the budget will be deactivated
Select your role as an owner or as a member of the budget**. If you choose Owner, you can select between being a budget owner with transfer rights or no transfer rights.
Add a note to provide a reason for your budget request and support it with a PDF or image attachment.
Click “Submit request” then “Yes, submit”.
Note:
*if you are an Employee user, you will be able to select Preferred currency.
**If you choose Owner as a Finance user with transfer rights, the default role will be owner with transfer rights.
How to approve or reject budget requests as Admin?
Approval and rejection of any new budget requests from Finance or Employee users can only be done by Admin users.
To approve or reject a budget request, follow the steps below:
On your Aspire dashboard, click "Budgets" in the left navigation bar (web app) or click "Menu" and choose "Budgets" (mobile app).
Click on ”Pending budget request” on the top left side of the “Budgets” menu page.
Then click on the pending budget request you want to approve or reject.
Review the details of the budget request including budget name, purpose, spend limit, source of funds, etc.
As an Admin, you can choose to edit or assign Budget owner(s) and Budget member(s) for this budget.*
After reviewing the budget details, the budget can be Approved or Rejected from “Approve” and “Reject” CTAs respectively.
Note:
*If you select the budget owner while choosing budget member(s), their role as a budget owner would be changed into budget member post confirmation.
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