The Contract Reconciliation feature allows you to reconcile contract values once you receive payment from your governing body. This feature is utilised in conjunction with invoices and payments.
System requirements for using this feature
- The invoicing system has been configured
- Contracts have been applied to enrolments for government funding
- A contact exists in your system for your government body to raise invoices
Note: The aXcelerate Contract Reconciliation will need to be enabled within your account before you will be able to use this area of the system. If this feature is not enabled in your account, please contact our Customer Success team. There is no additional cost for enabling this feature.
Search for due contracts
- Select the Contract
- Select the applicable Schedule/s
- Enter the Date/s the payment is due
- Click Submit
- To only see due contracts, click Hide not due
Tip: It is recommended that you complete Contract Reconciliation when you receive payment from the government. When searching for contracts due, this will usually be the previous month if following the recommended practice.
Note: Contract Schedules rules stipulate when a contract value is due. Please refer to our Contracts help article for further information.
Create invoices for due contracts
- Select the due contracts
- Click Search Payment, if you have previously recorded the received payment against the contact
- Enter the Contact or Invoice No.
- Click Search
- Click Select on the correct Payment
- Select the Contracts the payment applies to
- Click Lock and Apply Payment, if you are applying the payment from step 2
- Click Create Invoice
Tip: You can utilise the checkbox at the bottom of the student contract list to select all due contracts for the student.
Note: You can also lock invoice line items and finalise the invoice by selecting the checkboxes above the Create Invoice button.
Assign payments to an invoice raised for a contract
It is important to mark the invoices created as paid to ensure that there is no outstanding contract value for the student. Please refer to our Invoices & Payments help article for further information.
Tip: You can record the payment received by the government against their contact record prior to raising the invoice. Please refer to our Contact Finance Summary help article for further information.
Amend Reconciled Contracts
There may be situations where you receive payment for a student who has commenced training but later withdraws or is deemed not competent. At this point, your next payment may have this amount deducted and you need to re-reconcile the contract. On the Contract Reconciliation page, a warning will appear next to the unit that has a different value assigned but a higher invoiced amount.
- Utilise the Contract Reconciliation filters to locate the unit to amend
- Click Submit
- Hover over the warning sign next to the value
- Search for the invoice
- Raise a credit note
- If required, raise a different invoice for the line item
Tip: The warning sign will inform you of any issues with the contract value.
Note: Please refer to our Credit Notes & Refunds help article for further information.
Reconcile from a Students Unit Status & Enrolment Page
- Locate an Enrolment who has a contract applied
- Click Finance Details
- Click Reconcile
Tip: After completing these steps, you will be redirected to the contract reconciliation page to continue.
Export Contract Reconciliation Data
- Utilise the Contract Reconciliation filters to find the correct data
- Click Submit
- Click Export.xls or Export.pdf
Contract Reconciliation Webinar
This webinar demonstrates:
- Creating Schedules
- Reconciling Schedules under a Contract
- Reconciling Contracts for a particular student
- Configuring a Government Funding Default Finance Code
- Setting a Funding Body Contact
- Steps to take when an outcome changes (e.g. if someone withdraws)