Payments & Invoicing

Steps for Setting Up a Budget

• Define the Project Scope and Objectives  
  Outline the main goals and deliverables of the project to establish a realistic budget. This foundational understanding helps you allocate resources and set a financial boundary that aligns with the project’s scope.
• Set the Initial Budget  
  Use Loxala’s budget-setting feature to enter your project's budget limit. This will act as a guideline for spending and will be visible throughout the project for easy reference.
• Budget Adjustments  
  You can adjust the budget at any point, which updates the overall financial target and helps manage any additional requirements that may arise.

Tracking and Managing Spending

• Real-Time Tracking  
  Loxala’s budget tracking provides real-time insights into expenses against the set budget, helping you monitor spending as the project progresses.
• Over-Budget Notifications  
  Automated alerts notify you if expenses approach or exceed the set budget, allowing you to manage spending before it escalates.
• Visual Budget Progress  
  A chart displays budget utilization with green bars for allocated funds, blue for actual expenses, and red for over-budget amounts, offering a clear financial overview at a glance.

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