How Does Procurify Handle Current and Future Budgets, and What Should I Consider When Uploading a New Budget?
Procurify provides a structured approach to managing budgets, ensuring that current and future budgets are handled seamlessly. Below is an overview of how the system manages budgets and key considerations for uploading new budgets.
Pending requests
Requests pending approval will fall under the Pending Requests section. Pending requests will always impact budgets that include the current/today's date.For example, if a request is submitted in the current budget period but remains pending until the next budget period, it will impact the budget active at the time of approval. This ensures that spend is allocated accurately based on the approval date.
A Request submitted in 2023 but remains pending approval in 2024 will impact the 2024 budget(s).
Approved
Once approved, an Order will fall under the Approved section of the Budget based on the date that the Order was fully Approved.
The spend for the Order item will be allocated to the time period in which the item was approved.
Purchased
Once a purchase order is created for an approved order, the spend for that order will be attributed to the Purchased section.
Received
Once an item in a purchase order is marked as 'received', and a bill has not been created or paid against it, the spend for that order item will be attributed to the Received section. If Auto-Receive is enabled for a PO, it is automatically marked as 'received'.
Billed
Once a bill is created or paid against an order, the spend for that order item will be attributed to the Billed section.
Exceptions to the Rules
Miscellaneous costs, which are added at the Purchase Order creation stage, are added to the Budget based on the day the Bill is created.
Items created during Bill Creation (in the Accounts Payable module) will impact the Budget based on the day they were created.
See Recurring Spend Management to see how Budgets will be impacted by recurring spend items.
Additional Information
Key Considerations When Uploading Budgets
Timing: You can upload a new budget at any time. The system will queue it and activate it on its designated start date.
Spend Allocation: Spend is allocated to the budget active at the time of full approval for an order item. This ensures accurate tracking and reporting.
No Overlap: Future budgets do not interfere with current budgets. Each budget operates within its defined timeframe.
By understanding these principles, you can confidently manage your organization's budgets in Procurify without worrying about disruptions or errors.
If you need a breakdown of the spend information shown on your budget, exporting the following information will help:
Order items
Expense report history
Purchase Order items
Bills
You may also utilize Spend Insights module to show your budget information. You can learn more about it here: Spend Insights Overview