Funding models allow you to set up a template for the types of pricing items you charge for in relation to your enrolments. Funding models can be selected in the Enrolment Wizard to automatically populate the pricing grid with relevant pricing items.
Open the Configuration Manager by choosing Manage > Configuration from the menu. The Configuration Manager displays an alphabetically ordered explorer tree.
- Adding a new Funding model
- Editing an existing Funding model
- Duplicating a Funding model
- Deleting a Funding model
- Viewing the Funding model report
Adding a new Funding model
- Right-click Funding models and choose Add new Funding model.
OR - Expand Funding models, right-click the appropriate state and choose Add new Funding model.
This will open the Funding Model Wizard:
- The State for the Funding model will be pre-set to the state indicated on the toolbar. Alternatively, if you chose to add the new exemption by right-clicking a state previously, that state will be preselected. A different state can still be selected.
- Enter a Name for the Funding model.
- Optionally, enter a Code for the Funding model.
- You can set the Training package qualification to which the funding model applies. If this is left blank, the funding model can be used for enrolments in any qualification and for enrolments that are not linked to any qualification (module-only enrolments).
- This funding model is the default for this qualification allows the model to be set as the default when an course/qualification is chosen, meaning it will automatically apply to new enrolments in that course/qualification.
- This funding model is not active indicates if the model should be archived. If enabled, the Funding model will be added/moved to the Archived Funding models branch for the selected state.
- Enter the Pricing information that applies to the funding model.
- Use the
button to add a pricing item to the funding model.
- Use the
button to add a new row for a different date.
Note: This date will determine when a particular fee should be applied, depending on the Enrolment Start Date or Unit date within a Students Enrolment.
- The
button will remove the associated row. You will be prompted to confirm the delete for header rows as deleting will also remove all entries under that row.
- In the Schedule Rule drop down you can specific the schedule calculation rule for each pricing item in funding models. This rule will be applied when the funding model is applied to an enrolment.
The available calculation options are:
- Fixed date, for the traditional manual entry of an issue date. If the issue date is empty, the pricing item is not scheduled.
- Enrolment start date. For contracts, this will use the contract start date.
- Enrolment finish date. For contracts, this will use the contract finish date.
- Unit start date, when started. For enrolments, this will use the earliest start date of all the units in the enrolment.
- Unit finish date when complete. For enrolments, this will use the latest finish date of all the units in the enrolment, when they are all complete.
- Use the
Note: For calculation purposes, amounts can be entered to four decimal places. This will be rounded to two decimal places when the final calculation is done in the pricing grid.
- Optionally, provide a Description for the Funding model.
- Click Next and then Finish.
The Amount and Concession fields in this area are designed to represent the full amount that is to be charged, and a reduced amount should a concession be required. The calculation rules for these items can be configured via the Pricing Items section of the VETtrak configuration manager.
Editing an existing Funding model
- Expand Funding models and also the relevant state.
- Right-click the model and choose Edit Funding model.
This will open the Funding Model Wizard, where you can make changes.
Duplicating a Funding model
- Expand Funding models and also the relevant state.
- Right-click the Funding model and choose Duplicate Funding model.
This will open the Duplicate funding model wizette:
- State will be pre-set to the state to which the original model belongs. This can be changed.
- Enter the New funding model name.
- Click Finish.
The duplicated model will be added to the explorer tree.
Deleting a Funding model
- Expand Funding models and also the relevant state.
- Right-click the Funding model and choose Delete Funding model.
- Click Yes when asked to confirm the delete.
If an error occurs, the Funding model has likely been used previously and is included in historical data. In this case, you will need to archive the Funding model to remove it from active use.
Viewing the Funding model report
This report lists all the funding models by state.
To show the report for all states:
- Right-click Funding models and choose Show Funding model report.
To show only a single state in the report:
- Expand Funding models.
- Right-click the relevant state and choose Show Funding model report.
The report will be displayed in a new tab/window.
- RELATED:
- Finance (section)
- Pricing items (Configuration)