Monitoring Your Account Balance (ACM Before October 2024)

This article applies to clients with an Academies and Content Marketplace (ACM) license prior to the October 2024 Major Product Release. If you are unsure if this applies to your organization, please contact your CX Representative.

When virtual cards are enabled, Admins must maintain a positive account balance in order to fund user purchases. When user's requests are approved to make purchases, funds will move from the account balance to virtual cards where they can be spent. 

• To Check the Account Balance
• Deciding When to Add Funds
• To Add Funds

To Check the Account Balance

1. Click Admin Settings from the left navigation menu.
   The Virtual Card Funds page displays.
2. Scroll to Virtual Card Balances.
   
   • Current Balance is how much funds are available in the account.
   • Total Approved is how much funds users have been approved to spend.
   • Projected Balance is the Current Balance minus Total Approved. 
   • Total Spent is how much funds have been spent in the current year.

Deciding When to Add Funds

In addition to working with your CSM to set up a monthly cadence for adding funds, it is recommended that you set a minimum threshold for Current Balance, monitor for this threshold daily, and initiate a top-up of funds when Current Balance dips below the minimum threshold. Alternatively, a negative Projected Balance is a good indication that funds should be added to cover approved purchases. Lastly, you can view transaction reports to check for repeated declined transactions. An increased volume in declined transactions could be an indication that the Current Balance is too low to support purchases. 

To Add Funds

1. Email [e-mail] with the amount of funds you'd like added and copy your CSM.
2. If funds run out, contact users to let them know to expect a delay in service. 
   
   Example Template
   
   

   Hi [User] / [Company List Serve],
   
   I'm reaching out to share some news regarding your learning stipend in the Degreed Academies & Benefits platform. It’s been brought to our attention that [Company's] learning stipend account balance was spent faster than it could be replenished. While it's exciting to see so many [Company] employees commit to learning, this unfortunately means that users cannot make any purchases until funds are replenished. This process typically takes about 7 business days to complete.
   
   Thanks so much for your patience, and let me know if you have any questions!
   
   Best,
   [Admin]