Once you have input your Rooms, Staff and Children, the financial settings will unlock. See this on the right hand side of your Setup menu. As a quick overview:
- Invoicing profiles is where you set up the ways in which you can bill your bill payers.
- Pricing is where you input the sessions and products you offer.
- Plans are your children’s booking patterns.
- Invoice layout is where you can customise the invoices that go out to your bill payers.
Follow the detailed steps for each section below.
Here, you can create the ways in which you bill your children’s bill payers. Firstly, head to Attendance schedules, we will come back to the Overview at the end.
This is where you will set up different attendance schedules - full year or specific days (used for term time or holiday club). If you have term time children, create a 'specific dates' schedule. Click ‘new’ and enter a title for this schedule, then select specific dates. You will be taken to a calendar, where you can mark dates to be included in the attendance schedule. Click the start and then the end date of this term, and this will highlight all dates in between in purple. Then in the same way, mark out of term dates so that they show up in white. You can add future terms by returning to this attendance schedule, there is no need to create additional schedules for future terms. You also have the option to change the month the year starts in by clicking the 3 dots in the top right corner. Once you have done this, click create.
Now for full year children, if you have them. Click ‘new’ again and this time, pick a suitable title e.g. full year, and select ‘full year attendance’. It’s as easy as that!
Now for funding grants, as you can see, there are some default grants entered - if you receive these, click on one and press add rate period, and enter your rate that you get.
You don’t need to put an end date, unless you know the rate is due to change. Click create. You can add any other grants you receive by clicking ‘new’.. , and feel free to delete any grants you don’t receive by clicking on the three dots.
If we go back to the overview, we can create an overall invoicing profile. An invoicing profile is made up of, an attendance schedule, your method of invoicing and the funding grants that can be received. Click ‘new’, and choose the suitable attendance schedule, this will generate a title for you. You can change this if you wish. Then choose the invoicing scheme these children are on, whether that is annualised or actuals.
Annualised invoices are calculated by taking the weekly booking pattern x the number of weeks of attendance ÷ by the number of monthly invoices, choose this if you wish for bill payers to receive the same invoice each month. *Upon selecting annualised, you will be prompted to choose how many weeks children on this profile attend, and how many months they are invoiced over.
Actuals, on the other hand, will take into account the exact sessions a child has done in a given period, therefore producing different invoices every month.
You can create as many invoicing profiles as you need - please watch the video showing on the right hand side for further explanation. The typical setup would be to have one full year invoicing profile and one term time:
Once we have invoicing profiles created, we can head back to the main setup menu.
Here is where we create everything that you charge for. Firstly, you need to make sure your pricing groups are correct. You may just charge one price for all children (in which case you only need 1), or you may have different rates for different aged children. Please note, this is not where you set up the different sessions you offer e.g. AM/PM session. In this nursery we have two pricing groups - 0-3 years and 3+ years. In this case, when creating a full day session for example, we can charge one price for under 3’s and another for the over 3’s. Famly also offers that your children can transition automatically up the pricing groups as they age. This is not essential to use but it should save you time and will ensure revenue projections are accurate. As you can see, we have 3 rules set up so children start in under 3’s, and move to over 3’s when they turn 36 months, and leave the nursery when they turn 60 months. Please click on the blue question mark for further explanation on how to set up your own automatic rules.
Using the breadcrumb trail at the top, click back to Pricing. As you will see, it is split into Sessions (which are what booking patterns are built from), Products (any extra charges) and Packages (bundles of sessions that have a fixed weekly or monthly amount). Start with adding a new session. You can have as many sessions as you wish. Typical sessions would be AM session, PM session, Full day session, Hourly rate session, Holiday club session.
Click ‘new item’ and then ‘session’.
You first need to decide on a title - bear in mind that this will show on the invoices. Then you choose whether this session is priced hourly or per session. Next, you need a price in both the price column, and also the Adhoc column. Putting a charge for Adhoc will allow you to add this session as a single purchase, a one-off that isn’t part of a child’s regular plan. If you do not enter an adhoc price, this session will only ever be able to part of a child’s plan.
If children can get funding off this session, make sure you select ‘allow funding’, it will be set by default.
Unlike the pricing which determines the invoices, availability is reflected in your registers. You need to choose whether this session can be flexible. Then you set the times - just note that it works on a 24 hour clock. Lastly, you need to decide which days this session is charged on.
If you are annualising invoices, this doesn’t matter so much unless you have a plan change mid month and the invoice swaps to actuals. So it’s still worth bearing in mind.
A closing day would be a day that you perhaps didn’t expect, a bad weather day for example. A bank holiday and training day should be pretty self-explanatory! Lastly choose whether you’d charge for this session if a child is off sick. Each nursery is different, but a common set up would be to charge for bank holidays and sick days, but not for closing days or training days. Make sure to click save.
Although the set up looks very similar, Products are used for extra charges for example meals, late payment or collection fees, registration fees or an extra-curricular activity. Products do not have a time frame so do not reflect in your register, and funding cannot be applied to them. Click new item and product to set up breakfast. Famly will by default select per product, and this is the normal way to charge. Enter your prices and availability in the same way, and again, select the type of days that this product would be charged on. Click save.
Lastly we have Packages - these are handy if you have children that attend five full days a week (at a fixed discounted weekly or monthly price).
At the top you will find Volume pricing and Discount settings. Volume pricing can be used to discount sessions as more of them are added to a child’s plan. Discount settings are for any discounts you may offer e.g. staff, sibling or NHS.
If you want to know more about these ways to discount, head to our Help Centre - this is how you find it:
Let’s head back to the setup menu to get started on your Plans.
When you click here, you’ll get a list of all your children entered so far. This list is an overview of all plans created, and will update when you add a plan or make changes. Click a child’s name and this will take you to the profile. Head over to the bookings tab, and this is where we can also click ‘add plan’.
The first thing we need to decide is when we want this plan to start. Famly will automatically select the registration date of the child, but let’s bring that forward. The end date will stop the plan on a certain date - leave this end date blank if you want this plan to repeat week by week indefinitely. You can come in and change the plan or stop it, at a later date. Then we need to select the pricing group, if you set up automatic pricing groups here, you won’t need to specify as Famly can judge this based on the child’s DOB. Otherwise select the suitable pricing group.
Below the child’s name, you can select which invoicing profile their plan adheres to. Again, if you only have one of these, it will set automatically.
Next, we can start adding sessions and products to the plan. If we click here (top right), you can select a package. If you click add next to a day, you can find your sessions and your products. Make sure to click ‘make changes’!
On the right hand side you will either see the weekly amount (if charging by actuals) or monthly amount (if charging by annualised). Below there, you can add public funding. Click add public funding and you can enter the amount of hours here.
If you stretch your funding, it can often be a decimal number - click add as decimal number to be able to add this. You will see two figures, your deduction from invoice and claimable from local authority. The top box shows what you’re giving, and the bottom what you’re getting. You may get a discrepancy if the hourly rate you charge, is different to the rate you get from your local authority. You can always click ‘set manually’ under deduction from invoice to choose the monetary value of the hours you’re giving away. Click set. Public funding has been applied to the plan shown below, and as you can see, the sessions that are shaded are covered by funding.
Lastly, in the bottom right hand corner, you can add any discounts applicable to the plan.
Click save in the top right hand corner. You can edit this plan until you invoice for it, and then it locks. To change the plan for the future, you can use schedule change and create the new plan in the same way.
On the right hand side, you can see where you can add an AdHoc session or product.
This bit is nice and straight forward. Here you can choose what you show and hide on your invoices to the bill payers, as well as customise them with your logo and bank details. Remember to click save at the bottom.
Once all the above steps are complete, you are now ready to create all your children’s plans and let Famly know the details for calculating the invoices, generating your registers and projecting revenue and occupancy going forward.
The last part of this article will go through how to create invoices and add the payments you receive. Head to Apps under the overview on the left hand side, and we’re going to take a look at the Revenue & Debt app.
This app monitors revenue, manages debt and allows for easy batch invoicing. Upon entering plans, the Revenue report will update and upon sending invoices, your debt report will show accurately. Batch invoice can be found n the top right hand corner.
Normally, nurseries invoice monthly, in which case you would select the month you wished to invoice for. If you want to invoice weekly, 4 weekly or termly, you will need to select custom invoice. Firstly, you will see unresolved issues, and that’s just because these children do not have plans in place and/or a bill payer.
You can add bill payers from here - click add bill payer and then click in the search box and you will see your previously added contacts appear. Select one, and providing there is a name and email, click add.
Then this child and their bill payer will appear in the table at the bottom, with the invoice-able amount showing on the right. You can click on this to see the draft invoice. At the top of the invoice, you can toggle between PDF and details - details will show you the breakdown of that invoice. Please note that parents do not have access to this, but if they have any queries, you could perhaps show them this page.
To send out invoices in bulk, just click the checkbox next to your nursery name in the table and you will be able to click ‘create and send x amount of invoices’(the green button in the top right of the page).
Now if you head back one step to the Revenue and Debt app, you can click on all invoicing activity. On the right you can see where it says ‘apply payment’. If you search for a child, contact, or invoice number you can find what you are looking for. When you click on the name, it will bring up the box where you apply a payment.
If we choose to show bill payers rather than payments, you will get an alphabetical list of all your bill payers. Here, you can click on one which will bring up an account overview. Click new item. Until you send invoices, you have the option of doing balance adjustments if a bill payer is carrying over an existing balance from a previous system. When you get to the point of sending invoices, you can also log payments here. Press new item and payment to log when the bill payer paid, how, which invoice for and the amount. Payments you log will then reflect on the bill payers balance in Famly.