Expense Commitment and Budget Validation SuiteApp
The new Expense Commitment and Budget Validation feature allows businesses to create a budget for a specific account, segment, or period combination and then validate purchase requests, purchase orders, and vendor bills against the budget. This is beneficial especially to not-for-profit company customers for which accountability is more important than profitability. It prevents overspending by issuing warnings when a transaction exceeds the budget. When a budget is not available, it allows for traversal to the parent account or segment to find available funds. With this feature, businesses have the capability to budget and report both revenue and expenses by accounts and segments, such as programs, departments, and grant and revenue types.