Budget Tracking

Overview

SKOOR Budgets gives finance teams and budget owners real-time visibility into spending across every payment method. Import your budget, assign owners, set thresholds, and let SKOOR surface variances automatically. No more end-of-month surprises.

Available on all plans. Admin, Owner, and Accounting roles can view and manage budgets. Budget owners see their assigned portions.

Who Is Budget Tracking For?

• Finance leaders who need real-time spending visibility across the organization
• Budget owners (department heads, project managers) who want to make informed spending decisions within their allocation
• Operations teams looking to streamline approval workflows tied to remaining budget
• Accounting firms managing multiple client budgets from one portal

Automated Budget vs. Actuals Analysis

Track budgets in real time. SKOOR surfaces over- and underspend as it happens so you can act during the month, not after close. The dashboard shows clear visualizations of spending patterns, budget utilization, committed expenses, and potential overruns.

Assign and Track Budget Owners

Assign team members as budget owners for departments, projects, or expense categories. Each owner gets their own dashboard showing allocated budget, spent-to-date, remaining balance, and burn rate projection. Owners see only their portion — no access to company-wide financials unless granted.

Tailored Insights for Budget Owners

Budget owners receive AI-generated insights specific to their allocation. SKOOR highlights unusual spending patterns, projects trending toward overspend, and categories with unused budget. Insights are actionable: “Marketing is at 87% of Q2 budget with 6 weeks remaining. Consider pausing discretionary spend.”

Budget Approval Workflows

Connect approval workflows to budget status. When a purchase request comes in, SKOOR checks remaining budget and routes accordingly:

• Under 50% utilized — auto-approve within policy
• 50-80% utilized — route to budget owner
• Over 80% utilized — escalate to finance
• Over budget — block with override option

Approval screens show remaining budget context so approvers make informed decisions, not blind ones.

Budget Notifications

Set threshold alerts at any percentage: 50%, 75%, 90%, or custom. GABRIEL delivers alerts via email, Slack, or in-app notification the moment spending crosses a threshold. Alerts include:

• Current spend vs. budget amount
• Percentage utilized and days remaining in period
• Top spending categories driving the variance
• Projected month-end spend at current run rate

How to Set Up Budgets

Step 1: Access Budgets

Navigate to Manage Spend > Budgets in your SKOOR dashboard. The budgets module is available to Admin, Owner, and Accounting roles.

Step 2: Define Your Budget Structure

Choose your dimensions: department, project, GL account, or custom categories. Set your period (monthly, quarterly, or annual) and upload your budget via CSV or enter amounts directly. SKOOR auto-maps your categories to its chart of accounts.

Step 3: Map and Validate

After upload, SKOOR highlights any mismatches between your categories and its system. Use the mapping interface to resolve discrepancies. Common issues: category names that don't match your ERP, date formats, or non-numeric amounts.

Step 4: Assign Owners and Configure Alerts

Assign team members to budget lines. Set notification thresholds (we recommend 75% and 90%). Configure approval workflow triggers based on budget utilization. You're live.

Editing and Maintenance

• Small edits: Use the inline editor to add rows or change amounts. All changes are logged in the activity trail.
• Structural changes:Re-upload a new CSV via Settings > Re-upload. The previous budget stays in your activity log.
• One active budget: SKOOR tracks one active budget at a time. For multiple scenarios, manage versions externally and upload the one you want tracked.

Troubleshooting

Frequently Asked Questions

Can I have multiple budgets?

SKOOR supports one active uploaded budget at a time. That budget can include multiple dimensions (department, location, project), so you can track many budget lines within the same hierarchy.

What if my GL accounts are too granular?

Use parent roll-up categories above the detailed GL dimension. For example, group multiple T&E categories under one “Travel & Entertainment” budget line.

What happens when I upload a new budget file?

The new file replaces the active budget. The previous version stays in your activity log for reference.

Can I keep multiple budget scenarios active?

Not simultaneously. Manage scenarios (base case, best case, worst case) externally and upload the version you want SKOOR to track.

Does budget data sync to QuickBooks or Xero?

Budget definitions stay in SKOOR. Actuals (transactions) sync bi-directionally with QBO and Xero. Budget variance reports export as CSV for import into your ERP.

Key Capabilities

• Real-time plan vs. actuals across cards, bill pay, and reimbursements
• Budget owner dashboards with role-based visibility
• AI-generated variance insights and burn rate projections
• Configurable threshold alerts via email, Slack, and in-app
• Budget-aware approval workflows with automatic routing
• CSV upload/download for budget import and export
• Activity log for all budget changes and uploads
• Integrated with Business Skoor score for financial planning