Create and Manage Budget for a Monetary Program

This article guides you through the process of creating, linking, and reviewing a budget for a monetary program, ensuring proper allocation and tracking of funds.

In this article, you will learn how to:

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

In JobPts, admins can set up customized budgets when creating a program, tailoring them to the specific needs of different departments or user groups.

Additionally, the Admin Center provides flexible options to adjust budget amounts or modify calculation periods, allowing admins to manage budgets efficiently as organizational needs evolve.

*Note: Calculation periods can be set up as Monthly, Quarterly, or Yearly and depending on this period, budgets can be automatically inserted by the system. 

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 Programs, go to Manage Budget Definitions and create your budget by clicking the Create Budget Definition button.

Image: Manage Budget Definitions page

Once the ‘Create Budget Definition’ button is clicked, a new window will open.

Image: Create Budget Definition

To create the budget, fill in the required fields:

• Budget Name – Enter a name for the budget you want to create.
• Budget Amount – Enter the total budget amount.
• Calculated Period - Select between monthly, quarterly or yearly calculation period.
• Budget Group – Select between several budget groups (Global Budget; Organizational Budget; Manager Budget Overall; Manager Budget by Number of Subordinates; Country; Budget by Manager on Approval; Budget by Employee; Budget by Manager on Approval, based on his subordinates).

*Note: The fields mentioned above are mandatory and more information about the budget groups can be found below.

• Cumulative Calculation - When toggle is enabled, the outstanding budget in the defined ‘Calculation period’ will automatically transfer in the next period.

Select a budget group

To select the budget type, use the drop-down menu within the budget group section.

Image: Select a Budget Group

• Global Budget 

  – Is available globally within the company. It is like a pool of points used by all employees. 

*Note: Depending on the program preferences, the budget is deducted once the award is approved (if there is an approval system). 

 Image: Creating a Global Budget 

To create your Global Budget, enter the details described below:

• Budget Name
• Budget Amount
• Calculation Period
• Budget Group - select Global Budget
  
  
• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.
• Overspent Budget - This feature is available exclusively for the Global budget. When activated, it allows the monetary program associated with this budget to be utilized even if the Reserved Budget limit has been exceeded. As a result, pending awards can still be approved, even after the budget has been already spent.
• Approval Bar – Admins can choose to show or hide the approval bar on the ‘Approvals’ section of the application. When the approval bar is enabled, it will be displayed in the approvals section as outlined below:

Image: Approval Bar in Application

Types of approvals that may apply for ‘Global Budget’:

• Sender’s Manager
• Recipient’s Manager
• No approval

• Organizational Budget

- Each organizational unit is assigned a budget that can be modified per unit. 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: Creating Organizational Budget  

To create your Organizational Budget, enter the details described below:

• Budget Name
• Budget Amount
• Calculation Period
• Budget Group - select Organizational Budget
  
  
• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.

Aligned to: Each organizational unit/division of the company.

Types of approvals that may apply for ‘Organizational Budget’:

• Sender’s Manager
• Recipient’s Manager
• No approval 
  
  

• Manager Budget Overall 

   

  – With this type of budget, managers receive a designated budget for rewards, allowing them to recognize individuals or teams instantly. They can choose when, how much, and to whom to deliver a reward without needing additional approval.

   

*Note: When a manager sends an award, the budget is automatically deducted right away. This approach empowers managers to provide immediate recognition, making it easier to acknowledge hard work and achievements on the spot. For this type of budget, program givers can only be Managers and no approval is needed.

 Image: Creating Manager Budget Overall 

To create your ‘Manager Budget Overall’, enter the details described below:

• Budget Name
• Budget Amount
• Calculation Period
• Budget Group - select Manager Budget Overall
  
  

• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.
• Use Unused Budget - Option to insert the unused budget when manually inserting transactions.
• Send Email Notifications - Enable the option to send email notifications when a budget period is nearing its end and there are still remaining funds. Admins can set the number of days before the budget period ends to trigger these notifications.
• Threshold for Email Notifications - Allows admins to set a percentage threshold for sending email notifications. When the remaining budget drops below this threshold, notifications will be sent to inform the relevant parties.

• Manager Budget by Number of Subordinates

  - Each manager can have a budget for every direct report, making it clear how much they can award.

Instead of calculating a total budget for each manager, this system allows you to set a specific budget per employee. Once the budget is defined, the system automatically assigns funds to each manager based on their direct reports. When managers send an award, the budget is instantly deducted, and no additional approvals are needed. This approach streamlines the recognition process and ensures that managers can promptly reward their team members.

Image: Creating Manager Budget by Number of Subordinates

To create your Manager Budget by Number of Subordinates, enter the details described below:

• Budget Name
• Calculation Period
• Budget Group - select Manager Budget by Number of Subordinates

• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.
• Use Unused Budget - Option to insert the unused budget when manually inserting transactions.
• Value – Define a value that will be defined for each recipient, based on the number of subordinates that the manager has.
• Budget Type – select between direct subordinates or hierarchy.

1. Direct Subordinates - If selected, a manager receives a budget only for employees who work directly below them in the organization.
2. Hierarchy - If selected, a manager is given a budget for each layer of their hierarchical tree structure.

Image: Direct Subordinates vs Hierarchical type

• Send Email Notifications - Enable the option to send email notifications when a budget period is nearing its end and there are still remaining funds. Admins can set the number of days before the budget period ends to trigger these notifications.
• Threshold for Email Notifications - Allows admins to set a percentage threshold for sending email notifications. When the remaining budget drops below this threshold, notifications will be sent to inform the relevant parties.

• Country Budget 

  
  - Each recipient’s location is assigned a budget that can be modified per company needs and depending on the number of employees in the country. This type of budget is usually used for local programs.

Image: Creating a Country Budget 

To create your Country Budget, enter the details described below:

• Budget Name
• Budget Amount
• Calculation Period
• Budget Group - select Organizational Budget
  
  

• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.

*Note: When the budget for the recipient’s country is reached, the sender will receive a pop-up notification indicating that the budget has been reached and the user cannot receive an award. Regardless of the approval settings, the cost of the award is always charged to the recipient’s country budget.

Image: Alert that Budget Has Been Reached

Types of approvals that may apply for ‘Country Budget’:

• Sender’s Manager
• Recipient’s Manager
• No approval
  
  

• Budget by Manager on Approval 

   

  - Managers receive reward funding from an allocated budget for a designated time period. The budget is shown when approving the award, and deductions happen upon approval.

*Note: This type of program must have an approval system of either one or two levels and a budget is deducted from the final approver’s budget. Also, program givers can be all employees, based on the program preferences. With this type of budget, managers are given the authority to allocate funds wisely while staying within the established expense limits.

 Image: Creating a Budget by Manager on Approval 

To create your Budget by Manager on Approval, enter the details described below:

• Budget Name
• Budget Amount
• Calculation Period
• Budget Group - select Budget by Manager on Approval
  
  

• CumulativeCalculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.

Types of approvals that may apply for ‘Country Budget’:

• Sender’s Manager
• Recipient’s Manager
  
  

• Budget by Manager on Approval, based on his subordinates 

  - A manager with a number of direct reports should have a budget for each team member. Instead of calculating how much funds should each manager receive, you can use this type of budget and constrain the budget per their employee.
  
  Once the budget per employee is defined, the system will automatically calculate and assign each manager the amount of budget per direct reports.
  This amount of budget is shown when the manager is approving the award and budget is deducted upon approval.

*Note: Program givers can include all employees, depending on the program's preferences. With this type of budget, managers are granted full authority to allocate funds wisely while ensuring they stay within the established expense limits.

 Image: Creating a Budget by Manager on Approval, based on his subordinates 

To create your ‘Budget by Manager on Approval, based on his Subordinates, enter the details described below:

• Budget Name
• Calculation Period
• Budget Group - select Budget by Manager on Approval, based on his Subordinates

• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.
• Value – Define a value that will be defined for each subordinate.
• Budget Type – Select between direct subordinates or hierarchy.

1. Direct Subordinates - If selected, a manager receives a budget only for employees who work directly below them in the organization.
2. Hierarchy - If selected, a manager is given a budget for each layer of their hierarchical tree structure.

Types of approvals that may apply for ‘Budget by Manager on Approval, based on his Subordinates’:

• Sender’s Manager
• Recipient’s Manager
  
  

• 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. If there are transactions from the previous year, and the new year has begun, please be aware that approvals for old transactions will not be allowed under the updated budget definitions.

 Image: Creating a Budget by Employee  

To create your Budget by Employee, enter the details described below:

• Budget Name
• Budget Amount
• Calculation Period
• Budget Group - select Budget by Employee
  
  

• Cumulative Calculation – Available when either “Monthly” or “Quarterly” is chosen as the calculation period.
• Use Unused Budget - option to insert the unused budget when manually inserting transactions.
• Send Email Notifications - enable the option to send email notifications when a budget period is nearing its end and there are still remaining funds. Admins can set the number of days before the budget period ends to trigger these notifications.
• Threshold for Email Notifications - allows admins to set a percentage threshold for sending email notifications. When the remaining budget drops below this threshold, notifications will be sent to inform the relevant parties.

 

Types of approvals that may apply for ‘Country Budget’:

• Sender’s Manager
• Recipient’s Manager
• No approval

Delete a Budget

If a budget is not linked to a specific program and has no transactions yet, it can be deleted by clicking the Edit button next to the budget and selecting Delete.

Image: Delete a 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 Actions button and select Edit from the drop-down menu.

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: Connect a budget with a monetary program

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

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 Programs, go to Manage Budget Definitions, find the budget you would like to insert transactions, and click the Insert transactions button. 

Image: 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. 

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 Programs and go to Manage Budget Definitions. Find the budget you want to check, click the Actions button and select View Transactions from the drop-down menu. 

Image: View Budget Transactions

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:

• Total Amount

• Open Budget 
• Reserved Budget - Transactions in the pipeline waiting for approval. If approved, the amount will impact the Spent Budget column. If rejected, it will transfer to the Open budget amount.
• Spent Budget - Amount of Budget Spent

Image: Calculation Period for Budget

Upon clicking 'Save,' you have the option to add a note explaining the reason for the changes made to the selected budget.

Image: Reason for Changing Budget

Additional information can be found in the 'Download Log of Changes' report.

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