Pricing items allow you to record the financial value of a client’s contract or enrolment which can then be used to create invoices within VETtrak. VETtrak has a number of default pricing items, however items can be created to tailor for an RTO’s specific invoicing requirements. Once pricing items have been set in the Configuration Manager, they can be allocated to contracts or enrolments either directly, or by including them in funding models.
The total value of an enrolment may be made up of several different pricing items. It can include contributions made by the student, the employer, the government and other parties.
- Adding a new pricing item
- Editing an existing pricing item
- Deleting a pricing item
- Viewing the pricing item report
Adding a new pricing item
Open the Configuration Manager by choosing Manage > Configuration from the menu. The Configuration Manager displays an alphabetically ordered explorer tree.
- Right-click Pricing item and choose Add new pricing item.
This will open the Pricing Item Wizard:
- Enter a Item name.
- Optionally, enter a Code for the pricing item.
- There are certain types of fees that must be reported for some states. Select an option within the This item is used to represent/calculate drop-down menu to indicate how the item should be reported:
- Nothing special
- Tuition/Course Fee (This is a required item in WA, Vic and Qld).
- Resource Fee (Required in WA).
- Loan Liability (Required in WA).
- Government Contribution (Optional use in Qld).
- The Nothing special option can be chosen for any item that does not fall into the other categories.
- Optionally, select the Ledger, or click the
icon to create a new Ledger code entry. - This item should no longer be used (it is in-active) indicates if the pricing item should be archived. If ticked, the pricing item will be added/moved to the Archived pricing items branch.
- The Include this item by default when creating invoices will automatically add the item when an invoice is created for an enrolment that has this pricing item. This should not be ticked for items not normally included on invoices, such as the government contribution or loan liability portion of an enrolment fee.
- Surcharge percentage allows you to enter a surcharge percentage (which can be negative for a discount). When the pricing item is added to an enrolment, a surcharge tickbox will appear - If ticked, the surcharge percentage will be applied to the amount and GST, and the surcharge portion of the amount will be shown. This can be used to increase or decrease a pricing item by a percentage.
- The Default invoice item merge template per context table allows you to specify how this item appears on an invoice.
- Select a default template for each applicable Context - These items can be edited in the Configuration Manager as Invoice Item templates.
- Optionally provide a Description for the pricing item.
- Click Next and then Finish.
Editing an existing pricing item
- Expand Pricing items.
- Right-click the pricing item and choose Edit pricing item.
This will open the Pricing Item Wizard, where you can make changes.
Deleting a pricing item
- Expand Pricing items.
- Right-click the type and choose Delete pricing item.
- Click Yes when asked to confirm the delete.
If an error occurs, the pricing item has likely been used previously and is included in historical data. In this case, you will need to archive the code to remove it from active use.
Viewing the pricing item report
- Right-click Pricing items and choose Show pricing item report.
The report will be displayed in a new tab/window.
- RELATED:
- Finance (Section)
- Invoicing (Process)
- Funding models (Configuration)
- Ledger codes (Configuration)