List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Verify validity and accuracy of payment request | 1.1 Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements 1.2 Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay 1.3 Obtain confirmation of goods or services supply where required to validate request for payment |
2. Prepare payment documentation | 2.1 Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts 2.2 Complete documentation in accordance with organisational policy and procedures |
3. Authorise payment | 3.1 Check all payments are authorised accurately and according to organisational policy and procedures 3.2 Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures 3.3 Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements |
Evidence of the ability to:
verify and validate the accuracy of payment requests and accurately prepare payment documentation
check and authorise payment requests following organisational policy and procedures, and legislative requirements
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
identify the key requirements of legislation and industry codes of practice relevant to payment systems
describe organisational procedures for evaluating and authorising payment requests
describe the types of payment requests and associated documentation handled by the organisation
describe how payments are coded and allocated in the organisational system.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the account management field of work and include access to:
common office equipment, technology, software and consumables
an integrated financial software system and data.
Assessors must satisfy NVR/AQTF assessor requirements.