.png)
Some of Astalty's users work under a brokerage agreement for their NDIA-managed participants.
Generally, these agreements are worked out with the broker receiving a % of the income in return for the user to operate under their registration.
Whilst there are many different ways in which providers choose to handle brokerage arrangements, we believe that the following structure is the most effective in ensuring full transparency for Astalty users and ensuring that data is accurate when it comes to the utilisation of Participant funding.
The following steps will assist you in understanding our recommended process.
In order to complete the following; you will need to set-up participants as NDIS managed inorder to create the bulk-upload file.
Create a batch for the charges for the participants who are NDIA managed to be able to generate the Bulk Upload File. For more on how to generate the bulk upload file click here
Now that you have generated the bulk upload file you can email the bulk upload file to the broker so that they can upload this to the NDIA portal and once they have done this you can request the receipt file once completed.
If you do not know how to access the receipt file we have a user guide that outlines this process you can find that here
Upload the receipt file into Astalty to reconcile the payment within your Astalty account. This will also capture any errors that might have happened so that you can fix and reissue the upload file. More on the reconciliation process here.
We recommend that you use your accounting software to (e.g., Xero) to create and send the invoice to the broker that incorporates the brokerage fee. You can calculate the brokerage fee based on the receipt file. For example, if the total payment is $2,000 and the brokerage fee is 10%, create an invoice for $1,800.
By completing the following steps, Astalty becomes your source of truth for what has and hasn't been paid concerning your NDIS participants who are under the brokerage arrangement. Then your accounting software becomes your source of truth of what has and hasn't been paid with regard to the brokerage arrangement.