Assessor Resource

FNSRTS308A
Balance cash holdings

Assessment tool

Version 1.0
Issue Date: May 2024


This unit may apply to a range of job roles and is particularly relevant to small financial and other organisations where manual cash balances are conducted.

This unit describes the performance outcomes, skills and knowledge required to clear registers, count money, calculate non-cash transactions and reconcile takings and balance cash holdings.

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Employability Skills

This unit contains employability skills.



Evidence Required

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.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

accurately balance cash holdings in accordance with the organisation's requirements and procedures and precisely check cash and non-cash transactions.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to a financial cash and non-cash transaction system and consumables.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

accessing and validating third party reports.

Guidance information for assessment

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

make basic cash and non-cash balancing calculations

access and use computer-based transaction systems

problem solving skills to address balance errors and issues

literacy skills to read documents and complete forms and transaction records accurately

organisational skills, including the ability to plan and sequence work

teamwork skills to work cooperatively with others

self-management skills for complying with procedural requirements

Required knowledge

relevant legislation and statutory requirements including:

Consumer Credit Code

Privacy Act

Industry codes of practice

security checking procedures

the operation and maintenance of equipment which may include:

security equipment

transaction terminals

numerical display boards

calculators

scanners

organisational policies and procedures in regard to:

terminal balancing

cash and non-cash transaction security

cash float handling

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Cash in drawer includes:

notes and coins held in manual cash handling devices.

Terminal includes:

a range of manual or electronic equipment used for the deposit and withdrawal of cash and non-cash documents.

Organisation policies and procedures include policies and procedures relating to:

neatness and tidiness of cash in drawer

terminal balancing and security

time frames for:

processing transactions

periodic and end of day balances

recording of discrepancies.

Security policies and procedures includes:

organisational policies and procedures that specifically refer to the securing and safe handling and transport of money and non-cash transactions.

Non-cash documents or transactions may include

cheques

credit cards

EFTPOS.

Accurate recording of information may require recording on:

duplicate or triplicate copies

permanent hard copy

proformas.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Cash in drawer is maintained in accordance with organisation's policies and procedures 
Regular cash transaction processing and proofings are conducted within specified timeframes and recorded appropriately with cash withdrawn and deposited checked for accuracy 
Cash at close of business is counted in accordance with organisation's policies and procedures and discrepancies are investigated and corrected in order to balance float 
Cash within organisation budget is maintained within set limits 
Terminal balances are performed in line with organisation's policies and procedures and cash supplied to terminal according to organisation policies and procedures with float separated from takings prior to balancing procedures 
Terminal information is recorded appropriately after accurate checking 
Security policies and procedures are followed in the removal and transportation of cash, cash float and non-cash documents 
Cash and non-cash documents are correctly counted and calculated with terminal reading and sum of cash and non-cash transactions compared appropriately to achieve balance 
Records of individual takings are recorded accurately and in accordance with organisation's policies and procedures 

Forms

Assessment Cover Sheet

FNSRTS308A - Balance cash holdings
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSRTS308A - Balance cash holdings

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: