Budget Management

Control and track organizational spending with Waqti's budget management features.

Overview

Budget management in Waqti helps you:

• Allocate funds to departments and projects
• Track spending in real-time
• Prevent overspending with automated controls
• Generate budget reports and forecasts

Budget Types

OPEX (Operating Expenses)

Recurring operational costs:

• Office supplies
• Utilities
• Maintenance
• Software subscriptions

CAPEX (Capital Expenses)

Long-term investments:

• Equipment purchases
• Infrastructure
• Major renovations
• IT hardware

Project Budgets

Dedicated budgets for specific projects:

• Construction projects
• Marketing campaigns
• System implementations

Creating a Budget

Step 1: Navigate to Budgets

1. Click Budgets in sidebar
2. Click + Create Budget

Step 2: Budget Details

Field	Description
Name	Descriptive budget name
Type	OPEX, CAPEX, or Project
Department	Owning department
Fiscal Year	Budget period
Amount	Total allocated amount
Currency	SAR (default)

Step 3: Set Thresholds

Configure alert levels:

Threshold	Default	Action
Warning 1	50%	Email to budget owner
Warning 2	75%	Email to owner + dept head
Critical	90%	Email all + finance manager
Exceeded	100%	Block new POs, notify CFO

Step 4: Assign Managers

Add users who can:

• View budget status
• Receive alerts
• Create POs against this budget

Budget Dashboard

Key Metrics

Metric	Description
Allocated	Total budget amount
Committed	POs pending approval
Spent	Approved POs + invoiced
Available	Remaining balance
Utilization %	(Committed + Spent) / Allocated

Visualization

Budget: IT Department Q1 2025
├── Allocated: 500,000 SAR
├── Committed: 75,000 SAR (15%)
├── Spent: 280,000 SAR (56%)
├── Available: 145,000 SAR (29%)
└── Status: 🟡 Warning (71% utilized)

Budget Tracking

Real-Time Updates

Waqti tracks budget impact at each stage:

Event	Budget Impact
PO Created (Draft)	No impact
PO Submitted	Commitment added
PO Approved	Commitment confirmed
PO Rejected/Cancelled	Commitment released
Invoice Matched	Moves from Committed to Spent
Invoice Paid	Recorded in Spent

Viewing Transactions

1. Open a budget
2. Click Transactions tab
3. See all POs affecting this budget:

Date	PO #	Description	Amount	Status
Jan 15	PO-001	Office Supplies	2,500	Committed
Jan 12	PO-002	Printer	8,000	Spent
Jan 10	PO-003	Software	15,000	Spent

Budget Alerts

Alert Types

Alert	Trigger	Recipients
Threshold Warning	Budget hits 50/75/90%	Budget owner, managers
Over Budget	Exceeds 100%	All above + CFO
PO Blocked	New PO would exceed	PO creator
Monthly Summary	1st of month	Budget managers

Managing Alerts

1. Settings → Notifications → Budgets
2. Configure for each alert type:
   • Enable/disable
   • Recipients
   • Frequency

Budget Controls

Automatic PO Blocking

When budget is exceeded:

1. User tries to create PO
2. System calculates impact
3. If would exceed: PO is blocked
4. User sees warning with:
   • Current availability
   • PO amount
   • Shortfall

Override Options

Authorized users can:

• Emergency Override - Create PO with justification
• Budget Transfer - Move funds from another budget
• Budget Increase - Request additional allocation

Budget Transfers

Move funds between budgets:

Creating a Transfer

1. Budgets → Transfers → New
2. Select:
   • Source budget
   • Target budget
   • Amount
   • Reason
3. Submit for approval

Transfer Approval

Requires approval from:

• Source budget owner
• Finance manager (amounts > 10,000 SAR)

Budget Reports

Available Reports

Report	Description
Budget Summary	All budgets with status
Utilization Report	% used by department
Variance Analysis	Actual vs. planned
Trend Report	Spending over time
Forecast Report	Projected end-of-period

Generating Reports

1. Reports → Budget Reports
2. Select report type
3. Set parameters:
   • Date range
   • Departments
   • Budget types
4. Click Generate
5. Export as PDF/Excel

Fiscal Year Management

Setting Up a New Year

1. Budgets → Fiscal Year → New
2. Enter:
   • Start date
   • End date
   • Name (e.g., "FY 2025")
3. Set as active

Year-End Process

1. Review all budgets
2. Close outstanding POs or carry forward
3. Generate annual reports
4. Create new year budgets
5. Close old fiscal year

Carry Forward

Option to carry unused budget:

Option	Description
No carry forward	Unused funds expire
Partial carry	Up to 10% carries over
Full carry	All unused carries over

Best Practices

Plan Ahead

Create budgets before fiscal year starts. This allows:

• Time for review and approval
• Early commitment planning
• Better forecasting

Monitor Regularly

Check budgets weekly:

• Review utilization
• Identify trends
• Adjust forecasts

Use Projects

For major initiatives:

• Create dedicated project budgets
• Track separately from OPEX
• Link POs to project codes

Manager Budgets

Department heads can view consolidated budgets:

Features

• View all department budgets
• See team spending
• Approve budget transfers
• Generate department reports

Accessing Manager View

1. Budgets → Manager Dashboard
2. Select department (if multiple)
3. View summary and drill down

API Reference

This module is also available via the Waqti REST API. See Budgets API for programmatic access.

Related Topics

• Purchase Orders
• Reports
• Settings