A budget consists of a number of smaller budgets that are linked to different categories, for example "Phones" and "Computers". The budget is used to determine the sum for how much an employee can buy equipment for within a certain category. In case purchases exceed the budget, the overage amount will be paid by card, if that is available for your company, or it will be reported to the company as a foundation for salary deduction.
Each budget has a payment option, such as monthly or one off, as well as a renewal period. As an example, a budget for the category "Phones" could be 250 SEK per month for 36 months for an employee.
Budgets make it possible to gain control over the company's costs while at the same time giving the employee the opportunity to get the device they want and pay for overage costs themselves. All this without making it complicated administratively, neither for the company nor for the employee.
Budget for employees
If your company has the store available for employees you as an employee can see if you have a budget assigned to you under Your details in the navigation bar, then under the tab Budget.If you click on the arrow to expand the row you see more information about a category, either if there is no equipment there yet or it states what device is added. If you have any questions about your budget, talk to your company's Velory admin.
This article includes the following topics aimed for admins:
- How to create a budget
- Add a budget to an employee
- How to set a company default budget
- How to enable store filtered by budget category
How to create a budget
- Go to Asset Management in the navigation bar, click on Budgets and then Add budget.
- Name your budget, try to make it descriptive to make it easy to understand when you need to allocate a budget for an employee.
- Name your budget, try to make it descriptive to make it easy to understand when you need to allocate a budget for an employee.
- Then it is time to build your budget with the categories you want to include. When you click on Add category you will see a list of the available categories in your store.
- Per budget category you can make settings like payment option, renewal period, allowance and limited purchases.
- Limited allowance for a category means you set a budget for this category that the employee with this budget assigned to will get to buy devices for. Any exceeding amount over budget will be paid by the employee. With the setting disabled, your employees will have an unlimited budget for products within that category. Prices in the store will then not be visible for the employees.
- Limited purchases for a category means you set an amount of purchases within the renewal period the employee can do. For example: a budget for phones is set with a renewal period of 24 months and limited purchase amount of 1, then that employee who has purchased a phone will not be able to order another one until the renewal period has ended. With this setting disabled, your employees will be able to purchase an item within this category at any time.
- When you are done adding the categories and budgets you click on Create budget to finalize your new budget.
- You can at any time click on the budget name and see an overview and edit the budget if necessary. Note that if you make any changes to a budget that are allocated to employees and the employees have made orders the changes will affect the employees current allowance for that budget and salary deduction.
Add a budget to an employee
Your company might want to have different budgets for different employees depending on their roles and responsibilities. You then need to allocate the budget to the specific employee following the steps below:
- Go to Asset management in the navigation bar and click on Employees.
- Add the employee or find the employee in the list if the profile is already added, click on the three dots to the right and choose Edit.
- In the section Assign budget you can pick from your available budgets in the drop-down list.
- Then click on Update Employee. Be aware that changes in budgets may affect the employees current orders.
How to set a company default budget
You can create or set an already existing budget to be your company's default budget. A good option if you for example have only one budget that you want all your employees to be allocated to. When the default budget is enabled all new employees added to Velory will be allocated this budget automatically if no budget is specified. Enable this setting by following these steps:
- Click on your profile in the navigation bar, click on Settings then Budget & attestation.
- Under Budgets you have a drop-down list where you can choose from existing budgets to add as your company default budget.
- Then click on Update in the bottom of the page to save your settings.
How to enable store filtered by budget category
As an admin you can enable a setting for your store to filter the devices showing there depending on the employees assigned budget. For example, if an employee has an assigned budget that includes phones and computers, those are the only two categories the employee will see in their store.
Admins will always see all categories within the store regardless of what budget is assigned to them. Enable this setting following these steps:
- Click on your profile in the navigation bar, click on Settings then Budget & attestation.
- Under the section Filter store by budget category you find a check box that you should mark.
- Click on Update in the bottom of the page to save your settings.