Stay on top of your company's financial health with proactive alerts from your Volopay platform. By setting up custom alerts for low balances in your various accounts, you can ensure that you never run into unwelcome surprises.
This guide will walk you through the process of adding company alerts for bill pay currency wallet accounts, credit accounts, and payroll accounts.
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
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
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.