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Process: Creating (and using) a new Funding Model!

A Funding Model is an efficient way in VETtrak to formulate a pricing template for your Enrolments, including details such as Course FeesTuition Fees and additional costs. You can then utilise these items to create Invoices based on the amount you have designated.

Creating a Funding Model

To set up a new funding model, you will need to start by going to the Configuration Manager. To do this choose Manage > Configuration from the menu, or click themceclip0.pngicon on the toolbar or from the Dashboard.


In here, you will have a heading for 'Funding Models', and if you expand this heading, you will see a list of states. Right click on the state your training takes place to add a new 'Funding Model'

This first items you will need to enter is a name, and a code for your funding model. This can be whatever you like, most people will name it something that communicates it's purpose - such as the course/qualification it is for:mceclip0.png

It is then optional, but you can choose a specific Course/Qualification that this funding model applies to. Doing this will allow you to set it as the default funding model for this Course/Qualification, meaning it will automatically apply to new enrolments in that course/qualification:


You can now choose how this pricing item will calculate - Your first field is determining what 'kind' of fee is being used. As it is a unit cost, it is recommended to be reported as a tuition fee shown here:mceclip2.png

The next step is determining how this pricing item is applied to the enrolment - the option '$ /Unit' will apply your amount a single time to each unit - So in this example, it will add the dollar amount to each unit.mceclip3.png

The 'start date' area is used to determine when this fee is relevant, so if you change your fees in a particular year you can actually set this in here:mceclip4.png

This date will determine when a particular fee should be applied, depending on the Enrolment Start Date or Unit date within a Students Enrolment.

This is most useful for when a fee amount will change at a future date, as you can enter an additional Date item with the increased cost, and this increased amount will be applied at that time.

Finally you enter your specific dollar amounts, where you can enter both a whole amount and a reduced concession amount if required (do be aware, if you enter no concession amount, it will put '$0.00' against someone with a concession, so if they amount does not change for someone with a concession we recommend entering the whole amount in both fields)

The triggers that can cause the reduced concession amount to be applied to a tuition fee pricing item are either:
  • The enrolment has a fee exemption that has a “Tuition fee calculation method” of “Reduce tuition fee to the concession amount (use concession amount from funding model)”
  • In VIC and QLD only, the enrolled client has an indigenous status of “Aboriginal”, “Torres Strait Islander” or “Aboriginal AND Torres Strait Islander”


When this is done, press 'Next' and 'Finish' to save your new Funding Model.

Using your new Funding Model

To then utilise the funding model, this is done within a persons Enrolment. Your first step is to locate a particular enrolment that requires this funding model to be applied to, and start by editing the enrolment:

You will then need to navigate to the Pricing Items page, where you can select your Funding Model in the top right hand side, and select the Funding model you have created:

Once you have selected your Funding Model, press the 'Calc' button in the top right to calculate the amounts against your units:mceclip8.png

This will then add the monetary amounts as specified:mceclip9.png


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