At Cobee, we offer a low balance alert feature that allows company administrators to receive a notification when they are running low on funds. This feature lets you set a fixed amount based on your employees' usual spending, helping you know when your funds are running low and receive an alert.
To set up this functionality, follow these steps:
1. Access the dashboard and go to the "My Account" section.
2. Select the "Set alert" button.
3. Specify the amount at which you want to be notified of the low balance.
4. Add the email addresses of the users who will receive the alert.
5. Save the changes.
When determining the amount to set as the limit, we recommend considering the following factors:
- Estimated consumption and recurring payments: This data can be found in the analytics section.
- Estimated disbursements and accruals: This includes the money the company gives directly to employees (subsidies) and the funds employees don’t use from their monthly limit for meal and transportation expenses.
- Cobee Fee Estimate: This is the amount the company will need to pay during the current payroll cycle.
| 💡 We usually recommend setting the alert at 35% of the total of these factors. For example, if your monthly expenses are €1,000 and your Cobee fee is €100, we suggest setting the alert at €385 (€1,100 * 0.35 = €385). |
In summary, the low balance alert is a highly useful feature that helps company administrators anticipate future company spending and make informed decisions accordingly. If you have any further questions, feel free to contact our support team.