Building Budgets

Created by Harriet Medlicott, Modified on Thu, 8 Sep, 2022 at 11:55 AM by Harriet Medlicott

Piggybank

Budget Management

The process of setting up budgets is really simple and provides full control of what you want to track and how.

Click on images within this article for easier viewing.

TABLE OF CONTENTS

Getting Started
Building Budgets
Saving Budgets
Related Articles

Getting Started

Select the Piggybank module from the left-hand navigation bar
Select New budget (located top-right)
Enter the budget name in the text field
Click Create new budget to continue

Building Budgets

Selecting Create new budget will take you to the New budget page. There are three different sections to complete when building budgets. These are...

1. Setup

Here, you can:

Change/amend the budget name
Choose the budget tracking
Select what the budget relates to

Explanation
	Tracking basis This provides the option to use data from: Cherry Pi orders placed Invoices received Deliveries booked in (If required, select the Use gross value checkbox for the budget to be based on gross spend). This choice will determine the options for how the budget will track. It is also dependant on the Pi modules you use. Cherry Pi orders - updates budgets once an order has been sent Invoices received - updates budgets once invoices are in Pi Deliveries - update budgets once a delivery has been booked in
	*My budget relates to what?* Dependant on your chosen tracking option will define the options to choose from regarding what the budget relates to. Choosing for budgets to be tracked by Invoices received will provide a couple more options to select (Nominal, Cost Centre - Pi's Purchase Coding module is required). This selection will determine other available drop-downs.
	The next drop-down provides the option to choose the site the budget will relate to. You can use the text field to help filter your search. Alternatively, you can set up a budget for all sites.

The example below shows the budget will be tracked by Cherry Pi orders, it will relate to a single supplier and an individual site:

2. Budget

Here, you can:

Choose the start date
Select the budget period
Enter the budgets amounts

Explanation
Set the Budget start date by clicking the calendar icon.	Choose the Budget period using the drop-down.	Enter the budget amounts based on the set period. Click Remove against a budget line if this is not required.

The example below shows a set starting date, a yearly period and budgets added for that set period:

3. Alerts

Here, you can:

Setup budget alerts
Setup Cherry Pi approvals

These work through set threshold %, sending alerts to the email addresses of those added.

Budget Alerts - best used to help track budget spend and control who receives an alert once the threshold has been reached.

Email budget alerts are sent via email - advisory only - no action required.

Approval Thresholds - work in the same way as Budget Alerts, but also link in with Pi's Cherry Pi module. By setting these up, a Cherry Pi order has to be approved before being sent.

Email alerts and actions. You can approve an order through the emailed alert, or approve directly through Cherry Pi. Check out the Approving Orders article for more information. You will need to be using Pi's Cherry Pi module - contact your Account Manager to enquire for more information.

Orders need to be approved before supplier cut off times to ensure they arrive on the scheduled delivery dates. Approvers will need their Pi login set up to approve orders - contact the Pi Helpdesk to action this.

Explanation
	Select the Create buttons to add alerts/approvals.
	Add multiple email addresses to alerts by adding a comma.
	Add a Threshold % to set when alerts are to be sent/orders to be approved. Add the e-mail address(es) for those that are to receive alerts/approve orders.
	*Applies to Approval Thresholds* only.** The Laddered approval system will result in only the higher budget threshold recipient receiving the approval email.
	Select the Disabled checkbox if you need to disable an alert. Select the Delete button if you need to delete an alert.