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Monthly: Adjust daily budget based on traffic to reach a budget of $XX,#*$! per calendar month.
Daily: Limit the carryover of your unused budget from low-traffic days. This can reduce your potential traffic for the month.
I noticed a new feature under Budget Options for "Timeframe", but only see it available in one client account - anyone else? [...]
Sounds as if the one account has been made a part of a limited beta test, ppcbuyers. Not much I can add beyond that. :)