NDIS PACE Funding Components and Periods - Create new Funding Components and Funding Periods

To create a new Funding Component, follow these steps

📢 PLEASE NOTE - In the INTERIM period that development was occurring, we advised customers to proceed with standard process and to setup category budgets for the FULL plan length. By following the steps outlined below, Funding Period amounts will automatically adjust based on services that have already been delivered during the period. 📢

For customers WITH SyncPro, please refer to Knowledge Base Article - Create new PACE Service Contract and related Funding Components 

For customers who DON'T have SyncPro, follow these steps. 

1.  On Plan Budget table, click on  next to the Category name to open Create Funding Component dialogue

2.  Fill in the required fields:

1. Plan Budget
   
1. Auto-filled based on the Category Name.
   
2. Read-only – you cannot edit this field.
   
   
2. Plan Period
   
1. Auto-filled based on the Service Contract Start and End Dates.
   
2. Read-only.
   

1. Funding Component Amount (Required)
   
1. Auto-filled with the Category Budget Amount.
   
2. You can update it, but it must not exceed the Category Budget Amount.
   

1. Number of Funding Periods (Required)
   
1. Enter the number of funding periods as shown in the PACE system.
   

1. Start Date and End Date (Required)
   
1. Enter the dates for the Funding Period as shown in PACE
   
2. The dates must fall within the Contract duration.
   

1. Amount (Required)
   
1. Enter the amount allocated for the current Funding Period.
   

1. Add More Funding Periods (if needed):
   
1. Click [+ Add another Funding Period] to add more entries and fill in the details as above.
   

Tip: For faster data entry, use the Tab key on your keyboard to quickly move to the next field and enter data without using your mouse.

3. When all information is entered, click [Create] to save the Funding Component.

4. What Happens Next

• After creation, a new icon appears next to the Plan Budget.
  This icon indicates that a Funding Component has been successfully created.

• The Available amount now shows how much funding the participant can access for the current Funding Period.

• The newly created Funding Component and its associated Funding Periods will now appear in the Funding Component table for review and tracking.

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