The "Budget Management" feature in Digital Purchase Order allows users to monitor and control their spending against allocated budgets. This tutorial provides a step-by-step guide on how to set up budget limits, track expenditures, and generate reports, ensuring that your purchasing activities remain within budget and aligned with financial goals.
Welcome to Digital Purchase Order (DPO). This is a quick introduction to the DPO budget feature, where you can track expenses against pre-defined budget limits. You can monitor all your expenses at a glance and allow users to create purchase orders without going over budget.
To activate this feature, go to the admin section and select the Budgets tab. Simply create a new budget, name it the way you want, and define your spending limit. You can also allow an over-budget tolerance either by selecting a percentage or fixed amount.
Digital Purchase Order also gives you the possibility to create sub-budgets. That way, you can track spending in detail without losing sight of the overall picture.
Once you complete the setup, you can create your next purchase order. In the item editor, you select your relevant budget and the corresponding sub-budget as necessary. Depending on your purchase request, the system displays a warning that you are going to exceed the budget limit or prevents you from creating the PO.
If you open a PO in the view section or in the approval list, DPO will display the percentage of the budget used. If you are working with sub-budgets, you can also review the detailed status. That way, you have a clear picture of your current expenses, which leads to more sound decision making while approving.
If you have further questions, please send us an email to support@digitalpurchaseorder.com, or give us a call at 1.888.376 7254. We can also arrange a demo appointment with you. Simply contact us via email, and we will schedule a call at your earliest convenience.
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