Learn how to enable the funding management module and create entities following the below steps:
Enable Funding management module
Go to the Options page and navigate to Billing Settings
Click on Fundings settings and toggle on the Enable fundings option.
The "Enable Adding Parent Amount" toggle lets you include the parent's portion of the bill when setting up Funding Charge details.
Create funding entities and manage calculation rules
Go to the Options page and navigate to Funding Management. Make sure that funding is enabled; otherwise, the Funding Management tab won’t appear.
To create a new funding, click the plus sign in the top-right corner of the screen.
Fill in the needed info and tap Create.
Click on the newly created funding to manage its rules by opening the Calculation rules tab.
Customize Your Funding
Easily tailor your subsidy settings by configuring the start date, default method, type, and exception rules for items, charges, sessions, and packages under the "Calculation Rules" tab
Start Date
Specify when the subsidy becomes active. For example, if the start date is set to December 1, 2024, the subsidy will not apply to plans with start dates earlier than this.
Default Method
Automatically apply subsidy settings to a child's schedule. While this provides a default setup, you can still customize the settings for individual schedules to meet specific requirements.
Types of Calculation Methods Available:
Hourly
Percentage-based
Fixed Amount
Supports specifying a parent amount, subsidy amount, or both, applicable for daily, weekly, and monthly rates.
Exception Rule
Define specific items or products to be excluded from the subsidy or assigned an exceptional subsidy calculation method. When adding a subsidy to a child’s profile, you can decide whether the exception rule applies. This ensures it doesn’t automatically affect all plans.
Exceptional Rules support a variety of calculation methods, including:
Hourly rates
Percentage-based calculations
Fixed prices (daily, weekly, or monthly)
Complete exclusion from subsidy calculations
Exceptional subsidy methods cannot be applied when the default subsidy method is set to a fixed parent amount or both amounts. These methods are designed to provide predetermined, fixed payments shared between the parent and the subsidy provider, leaving no room for alternative calculations or variability. Introducing exceptional methods, such as percentage-based or product-specific calculations, would disrupt this structure and risk causing inconsistencies in subsidy applications.
Therefore, if a fixed parent amount or both amounts is selected as the default subsidy method, the Exception Rule configuration tab will no longer be available.
Remember to save your changes after configuring your settings.
Note: You will receive a notification confirming that the system has saved the settings. This message indicates that the changes will apply to invoices issued after the update.
Scheduling Subsidy Calculation Changes
You can schedule a new calculation rule for your selected subsidy entity by following these steps:
Click "Change Schedule" under "Calculation Rules" Tab
Define the upcoming rule's start date, default method, and exceptions for your new subsidy plan.
The new plan will automatically take effect on the specified start date.
The list on the left keeps a record of all past and upcoming subsidy rules. Note that you can schedule multiple subsidy rule changes as needed.
Additional Resources
For a detailed explanation of the various subsidy calculation methods or guidance on setting up available exceptional rule for an individual child's plan, refer to our article: Adding Funding/Subsidy to Billing Plans
Manage and reconcile subsidy transactions with ease.
Once subsidized plans are invoiced, you can track the automatically created funding charges in the designated tab "Funding Charges" located next to the Calculation tab.
At the top, you'll find general information about the selected subsidy, including the subsidy name and the number of children receiving it, located under "Children," along with the subsidy balance. A negative amount means a balance is due on the subsidy, while a green positive amount indicates a credit on file. A zero balance shows that everything is settled and balanced.
To the left, you'll see the "Add" button, which allows you to create a bulk subsidy charge manually for one or more children or process a bulk payment transaction. Next to it, the three dots provide options to edit funding details, such as the subsidy name.
Subsidy Charges Overview
Subsidy charges are displayed with the following key fields:
Charge Date: The date the charge was issued, which is different from the "Service Period."
Child Name: The child who received the charge benefit.
Service Period: this indicates the plan period the subsidy covers.
Child Schedule: The subsidized schedule from which the charge was issued. This links directly to the schedule, allowing you to review the applicable subsidy rate and related calculations for the charge amount. If the charge was created manually, it will not be associated with a schedule.
Trans Ref: The unique document reference number for the invoices, payments, or credits associated with the respective charge.
Amount: The amount of the subsidy charge issued for the respective period.
Statuses:
There are three main statuses for subsidy transactions:
Pending: The charge has been issued in an invoice to the parent but has not yet been invoiced to the subsidy entity.
Invoiced: The charge has been transferred to a verified bill for the entity. To verify and invoice a subsidy charge, click the three dots next to the charge, select Add, then Invoice, fill in the details, and submit.
Paid: Once payment is received for the invoiced subsidy, apply it by clicking the three dots next to the charge, selecting Payment, filling in the details, and submitting.
Note: After a charge is invoiced, you can either cancel it by adding a credit note to reverse it or apply a payment. However, if a charge has been both invoiced and paid, applying a credit note cancels the invoice but retains the payment as a credit on file for the entity. The credit will reflect under the "Balance" and will automatically be applied and deducted from the subsidy’s next payment bill.
Filtering options
The multiple filtering options allow you to break down the list of charges to narrow down your desired data as follows:
The "Charge Date" Filter breaks down the data according to the date the subsidy was issued.
At the top of the charges list, there are three filter buttons for Pending, Invoice, or Paid if you'd like to simplify the list based on these criteria. Additionally, there is a search bar where you can filter charges for a specific child. You can further refine your search using additional filtering options under the purple funnel icon next to the search bar. This allows you to break down the list by children's classes or the service period for the charge. For example, you can filter charges for Class 1 for the period of December 1st to 31st.
Manually create funding charges and track the number of children receiving them.
Sometimes, you may need to manually issue a subsidy invoice for one or more children, especially if no subsidized plan is in place.
Click the Add button in the top-right corner of the screen and select Funding Charges.
Select the children eligible for the subsidy by checking their names on the list, which determines the total number of children receiving funding from this entity and displays their individual subsidy balances.
Click the Add for Selected button at the bottom-right.
Fill in the invoice details and submit.
Note: If the "Enable Adding Parent Amount" option is active (as explained earlier), you can input both the subsidy and parent portions, which will be reflected in the generated invoice.
Similarly, using the Add button, you can create a bulk payment to reconcile multiple due invoices at once by choosing Payment this time.