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Coupa Success Portal

Spend Wisely: Track Budgets in Real-Time

Spending more than you planned on? Well there’s only one real way to know if you are spending what you’d intended. Create budgets and track spend using Coupa Budgets.

Check out all these benefits you get with Coupa Budgets:

  • Give budget owners real-time insight into approved and pending approved spend against their budgets, right from their Coupa home screen.
  • Pull in budget owners on all requisitions against the budget, or only those that would exceed it.
  • Enforce hard stops on budget lines that you absolutely cannot exceed.
  • Give end users insight into the budget impact of their purchases, before they even click submit.
  • Set up budget alerts to notify key stakeholders when budgets start to fill up.
  • Report on spend against your budgets.

 

Coupa Budgets are directly tied to your account structure, as defined by your COA settings. In other words, you set up budget lines for specific accounts.

Setting Up a Budget

There’s a couple of steps to getting started with budgets:

  1. Create your budget periods under Setup > Budget Periods. You’ll notice right away that you must specify which COA and account segments this period applies to. Coupa recommends defining your periods to go down to the deepest level in your COA structure that you think you’ll need, since it’s easy to combine reports from multiple periods.
    Note: You can define custom time periods, but accounts included in one budget period cannot be attached to any other period.

  2. At the top of the Budget Periods table, decide on your global budget settings For example, whether or not you want end users to see specific budget details or select different budget periods for an account.

  3. Create budget lines for your budget periods. This is also where you can define budget owners and other key settings.
    Note: You can create budget periods from the past and then create budget lines for them, but you Coupa does not go back and look at all of your past transactions that apply to that budget line. You must set up your budget lines before you start posting any transactions to them.

  4. Once your budget lines are created, you can start creating alerts for them. Just click on the add alert icon on the Budget Lines table.

That’s it. You’re good to go! If you want more details on all of the types of transactions that Coupa tracks for budgets, or if you run into any trouble in the setup, check the Coupa online help for more details.

Like what you see? Want to know what others think?

Join in the Coupa Community and share your thoughts about budgets and the success you’ve realized so far.

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