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How do I set up a budget?

Simply go to the “budget” tab in your company’s Coverflex Dashboard, select the option “create your first budget” or "add new budget" and follow the steps below:

  • Indicate the budget general information. You can name your budget, assign it a specific icon, and leave a description for your employees on how to use it (e.g., where they can spend it, how they should submit their reimbursements);
  • Select its periodicity:
    • You can define how often your employees’ budgets are refreshed.
    • You can attribute it one time only or you can set it to renew every month or year.
    • If you want your budget to renew every month or year, you can also choose if your employees can accumulate their balance between renewals or if the budget will reset. You can pick its start and end dates as well.
      Note that the day of the month you chose for the start date will be the renewal day (meaning if the start date of a monthly budget is April 28th, its first renewal will be on May 28th);
  • Choose if the amount you want to provide is the same for everyone or set up different amounts for your employees. You have all the flexibility you need!
  • Confirm the budget creation ⇒ You’re all set!


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