Funding Claims allows you to forecast the payments you expect to receive for your funded enrolments over a particular period. Funding Claims can also help you identify missed payments by looking at discrepancies between expected payments and what you actually received.
Tip: Funding Claims is an extension to the Auto Contract Reconciliation feature used to import funded payments into the system. If you are on aXcelerate Turbo and would like Contract Reconciliation and Funding Claims enabled, please contact our Customer Success team.
Note: For more information on how Auto Contract Reconciliation works view the linked help guide or check out the Contract Reconciliation SHOT series.
Submit a Funding Claim
Submitting a claim will allow you to forecast the expected amount of money you will receive from your governing body based on your learner's progress over a given period.
The amount of money is calculated based on the payment rules in the Contract Schedule, the student's progress, and how much has previously been claimed.
- Go to the Contract Reconciliation area and select the Funding Claims tab
- Select the relevant Contract
- Select the Schedule
- Select the Enrolment Date Range you want to lodge your claim for
- Click Search
- Select the Learner/s you would like to claim
- Select Lodge Funding Claim
Tip: You can also submit a Funding Claim specifically for the learners in an AVETMISS report to submit a claim for a group of enrolments that you have recently reported. This can be done from the Funding Claims screen or directly after running your AVETMISS report by selecting Lodge Funding Claim button.
Reconcile Funding Claim Payments
Once you have received money from your governing body you can match this against your submitted claims.
Reconciling Funding Claim Payments allows you to bring the payments you have received from your governing body into the system and align them with the enrolments in your system.
- Go to the Contract Reconciliation area and select the Spreadsheets tab
- Upload your payment spreadsheet
- Click on the Auto Reconciliation tab
- Select the Spreadsheet you would like to reconcile
- Once all payment records have been approved, click Reconcile
Tip: Enable the ‘Use Funding Claims’ setting to use previously-lodged funding claims to calculate the current expected value for enrolments instead of a dynamically-calculated value based on the current enrolment status.
Note: You can also reconcile payments from the Spreadsheets menu by selecting the Arrow (when hovered reads “Reconcile this batch”) to the right of the document status.
View past Funding Claims
You can view your past Funding Claims at any time to forecast your upcoming payment or confirm previous payments.
- Go to the Contract Reconciliation area and select the Funding Claims tab
- Select the Claim under the Previous Claims label
Tip: You can also view information about Funding Claims in the report builder, see below.
Viewing Funding Claims in Reports
Reports
Your Funding Claims data can be found in the Class Enrolments report and the Unit of Competency Enrolments reports depending on the funding type.
- Search for the appropriate report
- Add your desired Filters from the dropdown menu
- Select Submit
Tip: Search "claim" when adding filters or display fields to view all Funding Claim related reporting options.
Identifying Missing Funding Claims Payments
After payments have been received and reconciled you may want to check for any payments where there is a discrepancy between what you received and what was expected. These can identified in the report builder by viewing the Total Claimed Amount Outstanding for particular enrolments you expected to receive payments for.
- Search for the Unit of Competency Enrolments or Class Enrolments Warehoused report - depending on whether your funding is paid out at a unit or enrolment level
- Set a filter for Total Claimed Amount Outstanding fields to "Greater than" and "$0.00"
- Set a filter for 'Latest Funding Claim Date' to "N Days Ago or More"
- Select Submit
- This will show the claims that are older than a particular period have a funding claim amount greater than $0.00 - meaning it was expected to be paid, but has not been reconciled