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There are two ways to apply subsidies on Famly. These can be added as a:
Fixed monthly subsidy, or a
Daily or weekly subsidy
Adding a monthly subsidy applies a fixed deduction amount to the monthly invoice. Parents will be able to clearly see the deduction amount on the invoice, similar to how a discount appears.
Daily or Weekly Subsidy Amounts can be added to a child’s plan as a discount. They can break the discount down to daily/weekly which then will be deducted from the invoice for the parents to see.
To use either type of subsidy reach out to support@famly.co. They will enable this on your account and you can then complete the set-up detailed below.
Setting up funding for monthly subsidies
Once enabled, you'll be able to add a new monthly subsidy by going to Settings → Finances → Funding settings
From here, click on New funding type and fill in the relevant details. Remember to click Save once you're ready.
Once set up, you can add this subsidy to the child's profile by:
Navigating to the Billing tab on their profile
Click Add in the Funding section
Select the type, define the subsidy period, and specify the monthly deduction amount
Review and click Save when you're ready
Reporting monthly subsidies
To get an overview of your subsidies, head to Finances → Reports → Funding:
This report allows you to see each child's Monthly funding rate and their Invoice deduction:
Setting up daily or weekly subsidies
Applying a daily or weekly subsidy can be added directly to a child's plan as a discount. This can be renamed so it shows as a subsidy on the parent's invoice. Please note, the daily/weekly subsidy option is only for children on a calendar with an Actuals billing scheme enabled. This won’t work on the Monthly billing scheme.
Once this has been enabled for you:
Head to a child's profile and navigate to their Billing tab.
From here, click on the plan to edit it and find the Discount section in the sidebar on the right
Enter their subsidy amount in the form of a discount, and select whether this discount should be applied daily or weekly, using the drop-down:
You can rename the discount so its shows as an actual subsidy on the invoice for the parents
Remember to save and close the billing plan when you're ready!
Please note, the daily/weekly subsidy option is only for children on a calendar with an Actuals billing scheme enabled. This won’t work on the Monthly billing scheme.
Billing the parents
Go ahead and create invoices as normal. The subsidies you've added 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 subsidy from the current invoicing month, as well as subsidies from any previous months that have not been invoiced yet.
Adjusting a child’s plan start date will not automatically update the application of subsidies to the child, so if a child’s start date for their plan is delayed, be sure to update the first month of the subsidy grant as well.
Exporting
If you would like to have a detailed report of daily or weekly subsidy amounts, you can export a CSV file of invoice items. To do so:
Head to the Finances section in your sidebar
Click on Reports
Select Invoices
Click on Export CSV and select Invoice items
Once exported, you can open up your CSV file and filter for subsidy names. You'll then be able to use this data to reconcile subsidy amounts against state, county or other subsidizing entities.