The Rho application allows you to create budgets to help you manage your organization’s expenses.
For example, let’s say you wanted to set a budget of $100,000 for Advertising expenditures. In the Rho application, you can create a budget called Advertising and specify the Budget Amount as $100,000. Once the budget is created, you can ensure that every time you spend money on Advertising that it is taken out of the appropriate budget. Then from the Budget Reporting page, you can view all of the Advertising expenditures for the month, quarter, and fiscal year.
Once a budget is created you can:
- Assign a Rho Card to a budget, so that all transactions using that card are assigned to the budget.
- Associate existing transactions to a budget to ensure correct management of your finances.
- Specify the appropriate budget to a financial transfer.
Additionally, you can assign specific users to a specific budget.