I suggest ...

Budget Management

In Xero, when a Overall Budget is available, the system should take the budget amount of an account and
1. deduct the actual spent to date on the,
2. deduct the commitments to date (Approved POs)
3. deduct the commitment to date (Bills awaiting payment)

to provide advice of remaining budget to approver, most businesses have no financial minded approvers so they need to know limitations. This would also allow for new workflows to take place if budgets are exceeded.

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    Anthony Burman shared this idea  ·   ·  Flag idea as inappropriate…  ·  Admin →

    Great news, everyone!

    We are now working on the feature that allows checking Bills and POs against the budget that can be pulled from Xero.

    We are now participating in Xero hackathon and prepared the following video that communicates the idea: https://www.youtube.com/watch?v=mvSOEygBij8

    Beta version is already available, so please let us know if you’d be interested to give it a try.

    10 comments

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      • Bill Schmidt commented  ·   ·  Flag as inappropriate

        I am currently evaluating approvalmax. I like your product and its integration with xero. Not having a budget against GL is a deal breaker for us.

      • Paul Burns commented  ·   ·  Flag as inappropriate

        Hi - is there an update on this proposal? It woudl be extremely useful to see current month/YTD spend per GL code v budget (or under budget/over budget/no budget) before making an approval. Further - if over budget, kicking to a separate set of delagated authorities etc. Budget to pull from same chart of accounts etc from Xero (so not duplicating inputs). Perhaps group admin modue on top of this all to ping alerts to designated Admin points on spend tolerances v budget (or ability to push a report out to summarise also showing person authorising etc name).

        Woudl love to get feedback on this - as we need this as part of the solution for our companies under management!!!

      • Claudia Clark commented  ·   ·  Flag as inappropriate

        This sounds like a bit ask, but would be amazing. We would greatly benefit from this and would pay extra for this feature.

      • Tammy commented  ·   ·  Flag as inappropriate

        YES. We need a monthly account limit which is linked to the Xero budget allocation but can also be manually overwritten by the Administrator.They need to auto refresh on the first day of the month also. So there is no surprises at the end of the month when issuing reports to Management.
        For example the department has X amount to spend on fuel each month and I still have 1 week to go. I need to know how much has been pre approved, pending receipts to be returned for processing and actually spent. The managers dont have access to see Xero and then they have to explain at the end of the month why they are over budget. If ApprovalMax had the separate account budgets set in the approval matrix then all would be great.
        The budget progress information would only need to be on the Approver log in , not the requester

      • Jonathan Fryer commented  ·   ·  Flag as inappropriate

        I was discussing this functionality with a client last week. It would be a great feature and something that no other application currently offers.

        Going one step further, different budgets could be set against different departments (tracking categories).

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