Understanding the Budgets Tab

The Rho application allows you to create budgets to help you manage your organization’s expenses.

For example, let’s say you wanted to set a budget of $100,000 for Advertising expenditures. In Rho, you can create a budget called Advertising and specify the Budget Amount as $100,000.

Once the budget is created, you can ensure that every time you spend money on Advertising that it is taken out of the appropriate budget. Then from the Budget Reporting page, you can view all of the Advertising expenditures for the month, quarter, and fiscal year.

Once a budget is created you can:

• Assign a Rho Card to a budget, so that all transactions using that card are assigned to the budget.
• Associate existing transactions to a budget to ensure correct management of your finances.
• Specify the appropriate budget to a financial transfer.

Additionally, you can assign specific users to a specific budget.

Which team members can see these budgets?

Any employee you add. To add a team member to a Budget in order to give them the ability to tag their transactions to that Budget you can follow these easy steps!

The amount of cash in my Rho account changes. Do these budgets need to be fully funded?

No. Creating department budgets is just like creating a spending limit. For example, you can set a spending limit of $25,000 for a budget. That amount will be the limit whether the account has a $10,000 balance or a $100,000 balance. However, unlike a card limit, you can go over a Budget limit, as noted earlier these are soft limits, just for tracking, not meant to inhibit spending.

The Reporting Tab

In this tab, you can see:

• Total Spending
• Total Budget amounts
• Pending Costs
• Pending Debits
• A bar or line graph showing recent activity:

The All Tab

• Active budgets are displayed in tabular format.
• Click Archived to view any budgets that have been archived.
• Additionally, you can create a new budget by clicking the New Budgets button. For more information, see Create a New Budget.

The table provides the following information about your budgets:

• Budget Color Label
  Displays the assigned color for the budget, used for identification in graphs.
• Budget Name
  The name of the budget.
• Number of Users
  The number of users in your organization associated with the budget.
• Budget
  The amount of money budgeted for the account.
• Period Spending
  The total amount of all expenditures for the specified time period assigned to this budget.
• Reset Cadence
  The time period when the budget is reset. For example, if the Reset Cadence for your $10,000 Advertising budget is monthly, then on the first of the next month the Remaining Budget returns to $10,000, regardless of the current monthly expenditures.
• Remaining Budget
  The percentage of the budget that remains to be spent for the specified time period.

To view the specific activity of a Budget, simple click on the Budget Name from the list shown above.

The Budget Details Page

Here you can view:

• Total Spending
• Total Budget
• Reset Cadence
• Wheel of Spend
• Graph of Spend
• You can filter all of the above by a specific date range or Day, Week, Month. Quarter, Year.
• Recent Transactions Tagged to that Budget
• The Actions Button on the upper right hand side allows you to:
  • Manage Users (add/delete users from a Budget)
  • Access the Budget's Settings (Name, Amount, Cadence)
  • Archive or Close the Budget