Reconcile Subsidy Payments

Purpose

The purpose of this page is to reconcile the subsidy payments that you've received for each child.  If you receive a monthly summary statement from the government, which details the payments made to your centre, reconcile that statement with the subsidy payments you were expecting to receive, according to Timesavr.

Generating Your List

The reconciliation page generates a list of expected subsidy, according to the approvals you've entered on each child's "Subsidy & Grants" page.   A separate list is generated for each month, for each program.  If you don't yet have a list for the month and program you want to reconcile, click "Recalculate List".  This button generates the list and saves it in a static form.  The list is not automatically updated if you enter subsidy for another child after the list has been generated.  In such a case, you can manually add that child to the list by clicking "Add a child not listed here" at the bottom of the list.

Reconciling Payments

Once your list is complete, you can begin to reconcile your payments.  Clicking Paid in Full automatically reconciles the payment.  If you want to make changes to a reconciled payment, you must click Undo.

If the expected subsidy amount was not paid in full, then you can manually enter in the amount you actually received.  When you tab out of that field, Timesavr calculates and displays a balance.  If you received less than expected, this will be a balance owed to you.  If you received more than expected this will be a balance you can refund to the family, or keep as an overpayment.  You choose what to do with this balance by selecting an option from the action field.

After you've selected an action, click Resolve

When you click resolve in a case like this, the charge panel will be revealed where you can confirm some of the details of the charge and save it.  The balance amount is now added to the family's transaction register as a charge and it will be included on their next invoice as an outstanding balance.

Leaving Items Unreconciled

As each item is saved automatically, you do not need to resolve every single item before leaving this page.  If you have an unresolved payment because you're waiting on a subsidy confirmation, or you're waiting to make a decision on something, you can leave it unresolved for as long as you need to.  Timesavr will remind you of your unresolved payments on your dashboard, so you can come back to it whenever you're ready.

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