Permission Required: Users with the Admin Profile can access this feature
Regional Availability: Australia, India, Indonesia, Singapore, United States
Overview
Maintain a strong grasp on your company’s financial health by utilizing proactive alerts through your Volopay platform. Custom alerts for low balances in your various accounts can help you avoid unexpected financial issues and ensure smooth operations. By setting these alerts, you will be promptly notified when account balances fall below predetermined thresholds, allowing you to take timely action and prevent any potential disruptions.
This guide will provide you with step-by-step instructions on how to configure alerts for your bill pay currency wallet accounts, credit accounts, and payroll accounts, enabling you to manage your financial resources more effectively and maintain control over your company's finances.
Where can we set company alerts
Navigate to the 'Manage' menu > and select Company settings.
Under Company settings, hover to the Alerts section and Enable company alerts for your financial spending.
Types of company alerts
Company alerts are notifications designed to keep businesses informed about critical financial thresholds and account statuses. These alerts help companies manage their finances effectively by providing timely warnings that allow for prompt action.
Low account balance alerts
Enable notifications for admins when different currency account balance breaches a particular amount. For each currency account you wish to monitor (e.g., USD, AUD), enter the threshold amount that will trigger an alert. Ensure you input a minimum balance amount that makes sense for your business operations, so that your company spends do not get declined because of low account balance.
Low credit account balance alerts
Scroll to the 'Low credit account balance' section.
Enable the toggle to activate these notifications.
Enter the balance threshold for the credit account. This should be an amount below which you need to be notified to avoid card declines or overdrafts
Note: This step and feature is only applicable to old accounts with Credit. New accounts no longer have Credit feature as we no longer offer credit services.
Low Payroll Account Balance Alerts
Locate the 'Low payroll account balance' section.
Switch on the notifications, by enabling the toggle.
Input the minimum balance for the payroll account, below which an alert should be sent out. This ensures you have sufficient funds for payroll.
With these alerts in place, you'll be better equipped to manage your company's funds effectively. You'll avoid the risks associated with low balances and ensure that your business can continue to operate without financial interruptions.