This article will run you through how to set up the financial side of your Famly platform - from creating your invoicing profiles to sending out invoices to parents.
Please note, Famly Free does not include access to all finance features on Famly. To find our more about the financial features on our paid packages, check out these articles on creating invoices and batch invoicing.
The first step to setting up your invoicing profiles is to create attendance schedules. These will communicate to the system which days children attend. You'll be able to choose between Full year care and Specific dates. If you select Specific dates (to create a Term Time Only schedule, for example), be sure to highlight the term dates in purple and leave the other dates white.
You will come back to this schedule at the end of each year to add new dates. It's important to add future dates to an existing attendance schedule rather than creating new ones to avoid any extra manual effort. This article discusses some common troubleshooting for attendance schedules.
Next, you will select the type of invoicing you use. We recommend Actuals since managers have shared that they think this makes invoices easy for parents to understand. It is also adaptable to last-minute changes in care, increasing flexibility for you.
Annualised invoicing can be used if you'd like the invoices to average out over the year, thereby making charges for parents the same every month. This consistency can be beneficial for parents but do keep in mind that mid-month changes to annualised plans can lead to variation anyway.
Please note, closure days must be subtracted from the number of weeks that you'll invoice for. Closure days cannot be added as one-offs later on!
Pricing Age Bands
Now you'll set up your pricing groups. These are generally based on children's ages. For example:
Babies 0-12 months
Toddlers 12-36 months
Preschool 36+ months
N.B. You cannot schedule automatic pricing advance rules based on pricing bands on Famly Free
The last step is to enter pricing for all care and extras that you offer. If you're setting up sessions from Get Started, check out this article for guidance.
For maximum flexibility, it's useful to create at least one standard session that is charged hourly, particularly if you offer funding. These will have a standard booking time but can be expanded or shortened if needed.
You will also need to enter details about when you charge for your sessions. If you don't charge for closure days at all, leave all the boxes unticked. It's important that this information is entered correctly as it will impact invoices when you send them out.
You can come back to these sessions or make amendments by going to Get Started → Pricing. Read more about making changes here.
N.B. Famly Free does not offer the ability to create packages of sessions or ad hoc purchases
Finally, it's time to add the extra charges that you have in place your setting. These can be for ad-hoc purchases such as meals or uniform items, or for late collection fees.
Invoices can be sent from the child's profile, or from the Invoices tab in your Finances section.
To send invoices from the Invoicing tab, select the invoice you'd like to send and click on the Create and send 1 invoice button.
N.B. Invoices cannot be sent in batch on Famly Free
You can edit your invoice layout by going to Settings then Finance. For more information, check out this article.
Parents can now make payments using Famly Pay on Famly Free. Famly Pay offers parents the opportunity to make payments by debit card, credit card, and direct debit directly in the app. To read more about Famly Pay, check out this article.
Please note, Famly Free does not offer access to financial reports, but you will be able to see an overview of your payouts in Famly Pay. Payouts will show as 'Famly' on your bank statement.