Lola.com lets you stop overspend before it even happens.
"Before Lola, I just emailed out budgets and hoped everyone could keep track. With Lola, I know they can!"
- Future you
Your budget owners can allocate their budgets by person, category, or vendor. Combined with real time visibility into spend, they finally have the tools they need to manage to budget.
Most department budgets include 2 types of spend: people spend (payroll, commission, benefits), and discretionary spend (invoices and cards). Right now, we track discretionary card spend against budgets. But we have some big plans to help save you time managing the rest of your budget soon 🙂.
When you create a budget, you can associate it with any number of departments, people, and expense categories. Our software checks every transaction against your budget rules in real time. Most transactions fits nicely into a single budget, and our software categorizes it for you. If a transaction could fit multiple budgets, you decide where to put it. We make this easier with smart suggestions, based on your budget set-up.