Funders represent different payors which fund your agency's services. A funder is principally characterized by its invoicing model - that is, the method by which the funder desires to be billed.
Once a funder is created, bill codes can be configured to set rates for the funder. These bill codes will then be added to service codes according to how the funder is to be billed for different services.
Set up a Funder
- You can access configured Funders through Accounting>Accounting Settings>Funders.
- Click on the Filter icon to search and filter. Funders can be filtered by whether they are Enabled or Disabled, and searched by Code or Name.
- Click +Add Funder.
- In the resulting dialogue, enter a Code. Choose accounts for GL Bank and GL Receivables and a Funder Type.
Code is the short-hand that will be displayed in dropdowns throughout the application.
Name is internal and will not appear on any invoice.
Holiday Multiplier: this is defaulted to 1. For days which are set as holidays, any rates for this client will be multiplied by the Holiday Multiplier. Alternatively, if you wish to determine specific holiday rates for individual bill codes of the funder, leave this set to 1 and see Time-Specific Rules.
Taxes: if you have defined any taxes, they can be set here so they will be applied to any bill codes of the funder.
GL Bank: If payments are received and processed automatically for the funder, the account of type Bank set here will be used for relevant subledger entries.
GL Receivables: Whenever subledger entries are posted requiring an account of type Receivables, the account set here will be used.
Funder Type: The funder type determines invoicing behaviour for the funder. Each funder type requires specific fields. Learn more about different funder types.
- Click Save.
Edit a Funder
Click Edit to edit a Funder.
Disable a Funder
Click the arrow of the Edit dropdown and then click Disable to disable a Funder.
- Time-Specific Rules
- Chart of Accounts
- Funder Types
- Bill Codes
- The Relationship between Service Codes, Pay Codes, Bill Codes, and Funders