Audience: All Neo1 Users


Creating a budget allows you to request pre-approval for expenses related to a project, upcoming trip, department etc. Below are the key things to remember about budgets. 


Budgets have a maximum amount

If you try to tag a transaction against a budget that has reached its limit, we will track "overspend" but the transaction will not be automatically approved. The transaction will be routed to the appropriate approver(s).

Budgets have an expiry date 

When you create a budget a 1month expiry date is defaulted. Transactions that occur after this date can not be tagged to the budget. Sen an appropriate expiry date to align with when you expect to incur spend.

Budgeted transactions are automatically approved 

When you tag a transaction against a budget that aligns with the date the expense was incurred, and has remaining funds, that transaction will not require supervisor approval. This speeds up the reconciliation process. Note: if the transaction breaches any established spend policy, then this will still be routed to the supervisor for approval.

Budgets have members 

Use this function to include other employees in the business who require access to the same budget. Once assigned, these users can then see the budget in their own Neo1 account and tag transactions against it.

Next Steps: Create a Budget in Neo1