Divvy Budget Settings
Divvy Budgets are not the same as your Section/Area/Region Budget. When you use your Divvy card, it first looks to see if you have budgets money to cover the charge and then will look to see if you have available funds on your credit line.
For many, having one general budget on your Divvy account is all that is necessary, while others may choose to have several different budgets to align to different spending needs.
Also confusing, the budget amount does not need to align to your credit limit or your S/A/R budgeted spend. Let's look at creating a Divvy budget
Creating a Divvy Budget
- Select Budget from the Left Navigation Menu
- Create a Budget using the button in the right corner
- Name your Budget - this might be "General" or "Region XYZ Budget" or, if creating multiple budgets, you might name it "Background Checks" if you want multiple budgets for your spending.
- Again, it is NOT required and often not recommended to have multiple budgets for each spending category as this can become confusing and difficult for you to manage.
- Select the Budget Type
- Recurring Budget - amount budgeted resets weekly, monthly or quarterly. This is the most common option
- One-time Budget - this might be used if you plan to create a virtual card for a volunteer to use for a one-off occasion
When you select "Next" the Budget set up will now ask you to add budget owners and team members
- Budget owners can add people, send funds to members, and approve payments. (At least one is required).
- Budget members can request funds, or use the funds that a budget owner assigns them.
Once your Budget Owners and Members have been selected, the Next option will ask if you wish to set a target spending limit
- Yes - If you set a target spending limit on the budget, you will only have that set amount available to spend, regardless of the available funds in your account. If you make a pre-payment to allow for higher spend in a given month, you will also need to increase your budget to use those funds. If you select yes, you will need to complete the following information
- Amount of the budget
- Amount for future periods (If you selected a recurring budget in the previous set-up screens)
- What should happen if the budget is reached - Allowing overspend, allow overspending to a set amount, or declining charges
- No - This allows you to spend whatever available funds are on your account and is the most flexible option, especially if you are going to pre-pay on your Divvy account. You can still set limits on individual spending and is often recommended
- If "No" is selected, you will then be asked if some members should have full funds access. This allows you to assign specific amounts of the budget to the members while allowing other users to access all available funds
Editing a Divvy Budget
- Start by selecting budgets from the Left Navigation Menu
- Select the budget you wish to edit
- Select Edit Budget Settings
- Here you can see all of the settings and adjust. See above for explanations of the various budget settings and adjust accordingly.
