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I think so, but I don't use the reports usually, I just calculate it, it's really quick.
Full price * 0.8 = x (on programme payments)
x / planned months duration (being careful to include the last month if the Planned End Date was the last day of the month) = y
y * months completed (again, make sure you include the month if their AED was the last day of the month) = z
z is how much income you should have received by the end date, whether it be levy, ESFA 95% or employer 5%.
Full price - z = how much you're not getting. Divide that by 20 to get the refund. Always round the refund down to the nearest pound, not up, or it'll look like you claimed slightly too little. Not a big issue for a withdrawal since there's no completion payment, but it's still annoying on the co-investment report.
One of my previous team members made a spreadsheet that does the calculations for withdrawals and change of employer, and it takes into account month ends and rounds new prices and refunds appropriately, it's really useful!
The only time I go back and look at the apps monthly payment reports, is if there's been a break or an employer change that can complicate things a bit.
Dan Hodgetts
Co-Investment Refund Calcuation
Edited
Morning all
Just checking I've got this right
In this example say the apprentice started in Jan-24, we collected full 5% of co-investment up front. They lasted 3 months and withdrew in Mar-24
Report shows:
So in this case very simply...... £1012 - (3 x £27) = £931 refund (recorded as PMR3 in ILR)
If they actually started in Aug-22 and withdrew in Mar-24, you just repeat this process using the R14 period end / co investment report and add the two together?
Thanks