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 admins create a program, they can set a budget adjusted to the needs of the users. for different departments. Additionally, admins can easily change budget amounts or calculation periods using the Admin Center, which has specific options to choose from.

These budgets can be connected to Monetary Recognition Programs that may require approval from either the person giving or receiving the budget. When a budget is approved, it will be deducted from the manager's budget who approved it.

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

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

Image: JobPts application - Create Budget Definition

Select a budget group

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

Image: JobPts application – Select 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: JobPts application - 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 fully allocated.
• 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: JobPts application - 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: JobPts application - 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: JobPts application - 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: JobPts application - 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.

• 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: JobPts application - 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 is reached for the recipient’s country, the sender will get a pop-up message that the budget has been reached and the user cannot receive an award.

Aligned to: Recipient’s countries.

 

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

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

• Budget by Manager on Approval - Managers receive a specific budget for a set period to distribute rewards. When they approve an award, the budget amount is displayed, and the corresponding deduction is made immediately.

*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, you give managers the right to spend budget wisely while staying within expense boundaries.

 Image: JobPts application - 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
  
  

• Cumulative calculation – 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 be all employees, based on the program preferences. With this type of budget, you are giving managers full right to spend money wisely and stay within expense boundaries.

 Image: JobPts application - 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 subordinted.
• 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.

 Image: JobPts application -  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, it can be deleted by clicking the Edit button next to the budget and selecting Delete.

Image: JobPts application - Delete 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:

Log in to JobPts -> Admin Center -> Programs -> Manage Peer to Peer Programs -> Select your Monetary Program -> Actions -> Edit

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.

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 – Connect a budget

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:

Log in to JobPts -> Admin Center -> Budget -> Manage Budget Definitions -> Insert Transactions

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. 

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:

Log in to JobPts -> Admin Center -> Budget -> Manage Budget Definitions -> Actions -> View Transactions

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 – View 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 - Budget outstanding
• 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 - How much budget has been spent.

Image: JobPts application - 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: JobPts application - Reason for changing Budget

 

In the 'Download Log of Changes' report, you'll notice a new column titled 'ModifiedByNote.

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