Monthly calculations

For children who have Equally Spread (Annualised) invoices, a button called Monthly Calculations will appear in the top right of the Invoices screen on their profile. Clicking on it brings up a window that shows how Equally Spread invoices are calculated for each month. 

With Equally Spread invoices, the cost of all sessions is equally spread out over a year, so parents are charged the same amount in each invoice.  Invoices are calculated using a Calculation Factor, which is (Number of Weeks the Nursery is Open in a Year)/(Number of Months the Nursery is Open in a Year), or 52/12 by default. This value is multiplied by the weekly total from a sample week, and used to determine the average monthly cost across the whole year.

If the Funding Calculation on the child's Funding Settings is set to As per weekly funding hours, this screen will also include a column called Funding Calculation Factor, which is the calculation factor used to determine monthly funding reduction. This calculation factor is determined by (Number of Funded Weeks in a Year)/(Number of Months the Nursery is Open in a Year).

On the Monthly Calculations screen, click on one of the  icons on the right to calculate the amount for that month. Clicking on the  icon next to that will copy this amount to all subsequent months. You can also override the Monthly Total and Funding Reduction values by clicking on their respective fields. 

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