How do Budgets work?

Budgets are the cornerstone of every Event. EventGeek's Budget suite enables Teams to efficiently plan, manage and report on event budget portfolios of every size and dimension.

Org Budget Settings

Within Org Budget Settings, Admins can set a default Currency and Fiscal Year Start.

Here Admins can also set the Team Budget for each Fiscal Quarter. These amounts will appear within Org Budget Reporting when Team is selected as the first Group By and the Date Range is a Fiscal Quarter.

Admins can also add, remove and update the Expense Categories in Org Budget Settings, including the 34 default Expense Categories.

Event managers are encouraged to use Expense Categories when adding Expenses for more granular and predictable Org Budget Reporting & Planning.


Org Budget Reporting

Event Managers can find Planned, Actual and Paid amounts in Org Budget Reporting charts and tables.

Admins can create Saved Views of Reporting based on Group By and Filter settings. 

Saved Views are visible to Team Members, within the scope of their Team access.

Group By and Filter settings are available for every Event Info field, including Custom fields, as well as Team, Event and Expense Category.

When Team is selected as the first Group By and the Date Range is a Fiscal Quarter, the Team Budget set on Org Budget Settings will appears as an additional column.

The current view of the table can be downloaded as a CSV spreadsheet with or without Expenses and/or Payments.


Event Budgets

Event managers can get started with an Event Budget by adding a Planned Total or individual Expenses.

Planned Totals can be broken down by Expense Category. If you add Categories but have some budget leftover, you can adjust the Planned Total by updating the Uncategorized Planned Amount.

Note that if you use Expense Categories for Planned Amounts, then Planned Total can only be updated through the Uncategorized Planned Amount and cannot be updated directly. You can set the Uncategorized Planned Amount to 0, but it cannot be lower than the Planned Total for the Event.

Planned, Actual and Paid Totals are shown in the Event Budget summary chart.

Expenses 

When adding an Expense, you can select the Expense Category or simply add an Expense Name. Only the Expense Name is required. 

Expense Name will default to Category Name when a Category is selected and can be overwritten.

Event managers are encouraged to use Expense Categories when adding Expenses for more granular and predictable Org Budget Reporting & Planning.

Expenses can be viewed and updated in the Expenses table or on the individual Expense view (see Payments).

Expenses can also be downloaded as a  CSV spreadsheet from the actions menu for individual events, with or without Payments.


Split Expenses by Teams

Expenses can be split by two or more Teams within your Organization, and you can allocate percentages per Team as needed.

The split percentages must total to 100% to save.

Org Admins and Full Access Team Members will see the outcome of split Expenses in Org Budget Reporting charts and tables. The Event with the split Expense appears in each Team, with the Actual amount reflecting the split.


Payments

The Expenses table can switch to a Payments view, which shows Payment Due Dates, Methods, PO# and other details.

Expenses have one Full Payment by default. Event managers can track additional Payments by adding them within the Expense view.

Tasks and Subtasks can be used to send email reminders for Payment Due Dates. (Please let us know if you'd like a more automated connection here.)


Currency conversion

Event managers can enter Expense and Payment Amounts in any Currency and they will be automatically saved in the Default Org Currency using the current exchange rate. 

Admins can set Default Currency in Org Budget Settings. Currently, EventGeek only converts alternative currencies, but does not save them. In other words, Org Members can only view Expense and Payment amount in their Org's Default Currency.


Access Control

Org Budget Settings can only be accessed by Admins.

Org Budget Reporting can only be accessed by Full Access Team Members (aka event managers). Reporting is scoped to access, so Team Members can only see their own Teams.

Event Budgets require Full Access to the Event (whether as an Event Staffer or Team Member).

Limited Access Event Staff cannot access Budgets or associated Attachments.

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