Reconcile subsidy payments

When a funder covers part of a family's tuition, what they were supposed to pay and what actually arrives don't always match. Subsidy reconciliation lines the two up for each agreement and billing period, so you can see where you're short, where you've been overpaid, and what you decided to do about it. This is for directors and school admins, and it's on the web only.

Open Billing and choose Subsidy reconciliation.

Read the table

There's one row for each subsidy agreement and billing period:

• Agreement: the agreement's ID number, like #1042.
• Period: the billing month.
• Expected: what the funder should have paid.
• Received: what landed.
• Variance: the gap, tagged Reconciled when they match, Shortfall when the funder paid less, or Over-receipt when they paid more.

Use the month picker at the top to narrow the table to one period. It starts on All periods. Until you've recorded a receipt, the table is empty.

Record a receipt

When a funder payment arrives, choose Record receipt and fill in:

1. Subsidy agreement ID.
2. Billing period.
3. Amount received.
4. Expected (optional). Leave it blank and Clear Day uses the agreement's monthly amount.
5. Date received, and a Note if it helps, like an EFT batch number.

Choose Record. The new receipt shows in the table with its variance worked out. If the agreement ID is wrong, or you've already recorded that period, you'll get an error instead of a duplicate.

Resolve a gap

On a row that doesn't reconcile, the Actions column offers a next step:

• Shortfall: Write off (you absorb the difference) or Bill difference.
• Over-receipt: Record refund.

Each one opens a confirmation, titled Write off shortfall, Bill family the difference or Record refund, where you can add a note and choose Confirm. Clear Day may ask you to Verify it's you first.

Resolving a gap records your decision, and nothing more. Bill difference doesn't create a charge, so add that charge through the family's billing. Record refund doesn't send money back to the funder. Every decision is saved with your note, so there's a record of what you chose and why.