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What is Funding Per Child?
This funding method uses a fixed monthly deduction amount. Parents will be able to clearly see the deduction amount on the invoice, similar to how a discount appears.
This system is used in Germany and Ireland but can be applied anywhere where this is the preference of the nursery.
To use this type of funding reach out to support@famly.co. They will enable the feature flag for this and you can then complete the set up detailed below.
How to Use Funding Per Child
Create funding types
Go to Settings → Finances → Public funding → Funding settings
Click new funding type and fill in details as shown below:
Click save
Applying funding to a child
Go to the child's Booking tab and click Add.
Select the funding type, define the funding period, and specify the monthly funding deduction amount.
*Note: The system currently defaults to the year 2021, so be sure to select the correct year when entering first and last month of funding.
Invoicing parents
Go ahead and create invoices as normal. The funding will appear as a separate line item below the plan and purchases.
Similar to how ad hoc purchases work, the invoice will pick up the funding from the current invoicing month, as well as funding from any previous months that have not been invoiced yet.
Adjusting a child’s plan start date will not automatically update the application of funding to the child, so if a child’s start date for their plan is delayed, be sure to update the first month of the funding grant as well.
Reporting
Funding report
To create a report of funding per child, head to Reports in your sidebar → find the Funding report (not the Public funding report!)
The report will show you the Funding name, Funding start, Funding end, Funding monthly rate and Invoice deduction. You can download then export your report by clicking on Download CSV then Export as CSV.
Invoices report
If you would like to see an overview of all of the funding for a given month, you'll need to:
Invoice the parents (see above)
Create a separate invoice from the bill payer account for the funding grant
After you have invoiced the funding grant bill payers, you will be able to see the funding grouped by child when you download the invoice lines.
To download invoice lines go to Finances → Reports → Invoices → Export CSV → Invoice Lines.
Revenue Report
In the Revenue Report, the funding will be included in the total for the Parent Fees (Planned) section, and the deduction amount will appear in the Other section for any months where the funding grant bill payer invoice has not been created.
After you have created the funding grant bill payer invoice, the funding amount no longer appears under Other, and instead appears next to the name of the funding grant in the bottom section.
Notes regarding monthly funding in the UK
Since this funding type shows as a discount on the invoice it is not compliant with the majority of local authority requirements in the UK.
If you're located in the UK but still want to funding as a fixed monthly deduction the best options are as below:
Type of Invoicing | Options |
Annualised | Set funding on plan manually and select a monthly amount (will show hours on invoice) OR Add the funding as a monthly discount (will not show hours on invoices) |
Actuals | Recurring voucher payments |