How do I create or update a budget?

 

Budgets are a useful way to keep your finances organized and control spending across teams, projects, clients, or other expense categories. Account owners can create budgets with set controls. Budgets can then be sent to other team members, giving them the ability to create virtual cards for their expense needs while eliminating the risk of overspending. You can even create a budget for yourself to keep spending on track!

Extend currently offers three types of budgets: Standard, Recurring, and Unlimited. To learn more, check out the “What are the different types of budgets?” article.

 

Creating a budget

Head to the Create New button at the top right corner of the page and select Create a budget. Pick the type of budget you’d like to create, and follow the instructions based on the budget type you selected: Standard Budget, Recurring Budget, Unlimited Budget

 

 

Standard Budget

1. Select Standard Budget
2. Enter the recipient’s email address or select from dropdown
3. Select the primary funding source for the budget (Registered Account or Card).
4. Enter a set budget Limit 
5. Choose an Active Until date or select Never Ends.
6. Click Create a Budget

 

Recurring Budget

1. Select Recurring Budget
2. Enter the recipient’s email address or select from dropdown
3. Select the primary funding source for the budget (Registered Account or Card).
4. Enter a set budget Limit 
5. Choose the frequency of the budget Reset: Daily, Weekly, or Monthly 
6. Enter the number of days, weeks, or months for the reset frequency
7. Choose the day of the week for the reset to take place
8. Choose Never Ends, On Date, or After Number of Resets
   • If "On Date" selected, enter the Active Until date
   • If "After Number of Resets" selected, enter the number of times the budget should reset
9. Confirm the recurring schedule shown under "Summary"
10. Click Create a Budget.

 

Unlimited Budget

1. Select Standard Budget
2. Enter the recipient’s email address or select from dropdown
3. Select the primary funding source for the budget (Registered Account or Card).
4. Choose the Unlimited option underneath the budget Limit input
5. Choose an Active Until date or select Never Ends.
6. Click Create a Budget.

Note: The Unlimited Budget is technically limited by the funding source it is tied to so the budget users do not exceed the bank-issued card limit.

 

 

Update a budget

Navigate to the Budget overview page, select Budget Options, and click on Update Budget. To finish, click on the blue Update Budget button at the bottom of the screen.

Note: The account source funding the budget cannot be edited.

 

 

 

Deleting a budget

Navigate to the Budget overview page, select Budget Options, and click on Delete Budget.

Note: Any active virtual cards created from that budget will be reassigned to the main registered account.