How do i create a budget with expense categories ?

Before you start

Before creating a budget, we recommend inviting the budget owner to use the platform. How do I invite a new user and how to set up an approval policy

Log into your OFX account.
Select Budgets from the left sidebar menu
Click + Create budget
Create a budget name. For example, Marketing budget
Select an owner of the budget, from the dropdown menu
The owner of the budget is generally the person managing the team
Select the base currency for the budget, from the dropdown menu
Budget currency is used to help you control the spend for a specific currency

Example: If you have a card user that uses their card in US currency only, you can set their budget to be controlled from US dollars only. This will help you control their budget by currency and location.
Enter the budget amount and limit
Select the frequency you would like the budget topped up and reset
Select if you will allow for the budget to overrun or enforce a hard limit

Allowing budgets to overrun gives your team flexibility to spend within their card limit and provides budget owners an overview on spend.
Enforcing a hard budget limit gives you full control of how much card users can spend, this means that not only will their card decline if they have exceeded their card limit, their card will also decline if the team budget has exceeded.
Select the users to be added to the budget from the dropdown menu.
Select the expense categories for the this budget.
Note: easily add additional customised expenses categories following steps here
Click Submit for approval

Once your Budget approver has approved your budget, your budget is ready to allocate.

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