Managing multi-currency budgets in OFX allows you to control spending in different currencies for various teams, projects, or card users. Each budget in OFX is set up with a specific base currency, which helps you track and manage expenses in that currency. If your business operates across multiple currencies, you can create separate budgets for each currency as needed.

Next Steps:

To handle multi-currency budgets, follow these steps:

1. Log into your OFX account.

2. Navigate to the Budgets section:
   Select Budgets from the left sidebar menu.

   

3. Click + Create budget.

   

4. Enter budget details:

   • Enter the budget name and description.

   • Select the owner of the budget from the dropdown menu.

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5. Select the base currency:

   • Choose the currency for this budget from the dropdown menu.

   • Example: If a card user spends only in US dollars, set the budget currency to USD. For EUR spending, create a separate budget in EUR.

6. Enter the budget amount and limit.

   

7. Set the frequency:

   • Choose how often the budget should be topped up and reset (e.g., monthly, quarterly).

     

8. Choose budget controls:

   • Decide whether to allow the budget to overrun or enforce a hard limit.

9. Add users to the budget:

   • Select users who can spend against this budget.

     

10. Select expense categories (optional):

    • Assign categories to help track spending within the budget.

      

11. Submit for approval:

    • Click Submit for approval to complete the process.