Create and Manage Budget for a Monetary Program

This article explains how to create, link and check a budget for a monetary program.

In this article:

• Create Budget
• Link Budget to a Monetary Program
• Manage Budgets
• Check the Remaining Budget in the Application

In JobPts, when designing a program, you can associate a budget which is allocated to certain departments. Our Admin Center allows administrators to adjust values as well as budget types with a specific setup and pre-defined budget options. Budgets can be linked to Monetary Recognition Programs which have a setting of workflow approvals that are designed to operate in such a way that either the sending or receiving party would be the approver. The allocated budget would be deducted from the approving manager's budget.

Create a Budget

To create a Budget, log in to the Admin Center of the JobPts application and follow the steps below:

On the left-side panel, select Budget, go to Manage Budget Definitions and create your budget by clicking the Create Budget Definition button.

Image: JobPts application - Manage Budget Definitions

A new window opens. To create the budget, fill in the required fields:

• Budget name - the name for the budget
• Budget amount - total amount of funds for the program
• Calculated period - select monthly, quarterly, or yearly budget
• Cumulative calculation - when enabled, outstanding budget in the defined ‘Calculation period’ will automatically transfer in the next period
• Overspent budget (available only for the Global budget) - when enabled, the amount from the Reserved Budget is overlooked and the monetary program linked to this budget can be used despite the reserved amount. 
• Budget group - select between several options – described below
  
  

Image: JobPts application - Create Budget Definition

To choose the budget type, select from the drop-down menu in the budget group:

Image: JobPts application - Create Budget Definition

To better understand each budget group, please check the information below for guidance:

• Global Budget - The budget is available globally for the whole company. It is available while there is an outstanding amount.
  
  Image: JobPts application - Global Budget
  • Approval Level - Based on the program’s preference:

• • • Sender’s manager
    • Receiver’s manager
  • Budget Owner - Global budget pool
• Organizational Budget - The structure of this budget is either by organizational unit or by division. The budget is constrained per employee and the total amount of budget assigned is a sum of the employees for the selected structure. Deduction is done after manager's approval.
  Image: JobPts application - Organizational Budget 
  • Approval Level - Based on the program’s preference:
    • Sender’s manager
    • Receiver’s manager

• • Budget Owner - Organizational budget pool by Final Approver
• Country Budget - Each country gets a budget available to be spent for recognition purposes, but recipient’s country bears the cost for the award.
  Image: JobPts application - Country Budget 
  • Approval Level - Based on the program’s preference:
    • Sender’s manager
    • Receiver’s manager
  • Budget Owner - Country budget by Receiver
• Budget by Manager on Approval - Each manager is getting a budget available to be spent for recognition purposes. When this budget group is selected, all users eligible to participate in the program can send the award, but the manager is solely responsible for approving the same. Deduction is done on approval, based on the program preferences.
  Image: JobPts application - Budget by Manager on Approval
  • Approval Level - Mandatory approval level, and it must be either level 1 or level 2. Based on the program’s preference :
    • Sender’s manager
    • Receiver’s manager
  • Budget Owner: Final Manager, Approver Budget
• Budget by Manager on Approval, based on his subordinates - Each manager is getting a budget available to be spent for recognition purposes. When this budget group is selected, all users eligible to participate in the program can send the award, but the manager is solely responsible for approving the same. The value that each manager gets equals the amount of the budget multiplied with the number of subordinates. 
  
  Image: JobPts application -  Budget by Manager on Approval, based on his subordinates
  • Approval Level - Needs approval level. Deduction of the budget happens upon approval of the award. Based on program preference:
    • Sender’s manager
    • Receiver’s manager
  • Budget Owner - Final Manager, Approver Budget

• Budget by Employee - Each employee gets a budget available for recognition purposes. If the program requires approval, budget will be deducted after manager’s approval.
  Image: JobPts application -  Budget by Employee 
  • Approval Level - Based on program preference (sender's manager or receiver's manager). Approval level is set by default to "0" when this budget is chosen. No approval is required in this case
  • Budget Owner - Employee Budget (as a giver)
  • Use unused budget - if this option is enabled, it disables the automatic budget allocations, requiring users to manually insert budget for the upcoming period. 
• Manager Budget Overall - Assign a total budget to each manager. The manager is solely responsible for spending the amount thus and approval is not needed. Deduction is done right after the award is sent.
  
  Image: JobPts application - Manager Budget Overall 

  • Approval Level- No Approval. Approval level is always "0" when this budget is chosen. 

  • Budget Owner - Manager’s Budget (as a giver)

• Manager Budget by Number of Subordinates - Assign a total budget to each manager. The manager is solely responsible for spending the amount; thus, approval is not needed. Deduction is done when the award is sent. The value that each manager gets equals the amount of the budget multiplied with the number of subordinates. 
  
  Image: JobPts application -  Manager Budget by Number of Subordinates

  • Approval Level - No Approval. Approval level is always "0" when this budget is chosen. Immediately deducted from the manager’s budget

  • Budget Owner - Manager’s Budget (as a giver)

Budget Notification Settings

A new section titled Budget Notification Settings will be displayed:

Image: JobPts application - Budget Notification Settings

Image: JobPts application - Edit Budget

Link Budget to a Monetary Program

Now that you have created a budget, you can link it to the specific recognition program.

Log in to the Admin Center of the JobPts application and follow the steps below:

On the left-side panel, click Programs and go to Manage Peer to Peer Programs. Find the program (already created) that you would like to link to the budget, click on the three dots next to the Actions button and select Edit from the drop-down menu.

JobPts application - Manage Peer to Peer Programs

Check if the Budget is active button is enabled. The drop-down Program budget check becomes active too once the Budget is enabled. From the drop-down menu, select the created budget for the specific program.

Image: JobPts application - Edit Program

When you click Submit a pop-up window will appear asking if you want to enable the budget and insert the initial transactions.

Image: JobPts image - Warning for an initial transaction to be imported for selected budget

If you click OK, then the initial transactions will be inserted and the budget will be activated.

If you select Cancel and want to insert the initial transactions later, then on the Admin Center, select Budget, and go to Manage Budget Definitions.

Manage Budgets

You can manage your budgets by inserting transactions and check their status at any time.

To insert transactions, log in to the Admin Center of the JobPts application and follow the steps below:

On the left-side panel, select Budget, go to Manage Budget Definitions, find the budget you would like to insert transactions, and click the Insert transactions button. 

Image: JobPts application - Manage Budget Definitions

A pop-up window appears. Select the Period and the Month to activate the budget for that period and month. When finished, click on the Insert button. 

Image: JobPts application - Insert Transaction

When you link the budget with a specific program, and the users start using it, you can always check the status of the budget by following the steps below:

On the left side, click on Budget and go to Manage Budget Definitions. Find the budget you want to check, click on the three dots next to the Actions select View Transactions from the drop-down menu. 

Image: JobPts application - Manage Budget Definitions

Click on the Calculation period from the dropdown, and select the period for which you want to check the status of the budget. Once you have selected, a screen will display and you can check the following:

• Open Budget - Budget outstanding
• Reserved Budget - Transactions in the pipeline waiting for approval. If approved, the amount will impact the Spent Budget account. If rejected, it will transfer to the Open budget amount.
• Spent Budget - How much budget has been spent. 

Image: JobPts application - Calculation Period for Budget

When a new employee joins the company or changes roles, the system will automatically allocate the appropriate budget to them based on their role and the current budget period. (quarterly, yearly, monthly).

New employees will receive their allocations without waiting for the defined period to end.

How to check the remaining budget in the application?

Depending on the type of budget used for creating the monetary program, there are different views for managers/employees to check the remaining budget in the application.

When the following budgets are being used: Global, Organizational, Country Budget, Budget by Manager on Approval, or Budget by Manager on Approval, based on his subordinates to create a monetary program, the sent recognitions can be reviewed from the Approvals option.

To check your remaining budget, log in to the JobPts application and follow the steps below:

 As an approver (manager), you can review the sent recognitions and decide whether to approve or reject them. The process to check the status of each budget is presented on the following screen: 

Image: JobPts application - Approval request

When you use Budget by Employee, Manager Budget Overall, and Manager Budget by Number of subordinates for creating a Monetary Program, the budget check is shown in the specific recognition program under the Recognize tile.

These types of budgets are directly assigned to the employee/manager and (s)he has an overview of the spending directly in the Recognize tile.

To check your remaining budget, log in to the JobPts application and follow the steps below:

Within the tile of the specific recognition program, there is a description and information about remaining budget displayed as points available to the manager/employee for the award. In our example below, you can see that the manager has 4800 remaining points to spend.

Image: JobPts app - My Available Programs

If this article left your questions unanswered, please submit a Support Form, and we can clarify this topic.