Assessor Resource

TLIQ707C
Prepare and process financial documents

Assessment tool

Version 1.0
Issue Date: March 2024


Work must be must be carried out in compliance with the relevant financial codes of practice and regulations.

Work is performed under general supervision. It involves the application of routine principles and procedures to prepare and process financial documents.

This unit involves the skills and knowledge required to prepare and process financial documents, including recording and balancing petty cash transactions, balancing all other transactions, rectifying discrepancies as directed, preparing invoices for debtors, and preparing and process banking documents.

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

Prerequisites

Not applicable.


Employability Skills

The required outcomes described in this unit of competency contain applicable facets of Employability Skills. The Employability Skills Summary of the qualification in which this competency is packaged will assist in identifying employability skill requirements.




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 knowledge and skills, the range statement and the assessment guidelines for this Training Package.

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

The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying:

the underpinning knowledge and skills

relevant legislation and workplace procedures

other relevant aspects of the range statement

Context of and specific resources for assessment

Performance is demonstrated consistently over a period of time and in a suitable range of contexts

Resources for assessment include:

a range of relevant exercises, case studies and other simulated practical and knowledge assessment, and/or

access to an appropriate range of relevant operational situations in the workplace

In both real and simulated environments, access is required to:

relevant and appropriate materials and/or equipment, and/or

applicable documentation including workplace procedures, regulations, codes of practice and operation manuals

Method of assessment

Assessment of this unit must be undertaken by a registered training organisation

As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests

Practical assessment must occur:

through appropriately simulated activities at the registered training organisation, and/or

in an appropriate range of situations in the workplace


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 KNOWLEDGE AND SKILLS

This describes the essential knowledge and skills and their level required for this unit.

Required knowledge:

Relevant financial regulations, codes and procedures including pertinent taxation documentation requirements

Relevant OH&S and environmental procedures and regulations

Workplace procedures for the preparing and processing of financial documents

Contacts and sources of information/documentation needed for the preparation and processing of financial documents

Customer service policies and procedures

Documentation requirements of banking institutions, governments and other relevant agencies

Typical problems that can occur when preparing and processing financial documents and appropriate action that can be taken to prevent or solve them

Required skills:

Communicate effectively with others when preparing and processing financial documents

Read and interpret instructions, procedure and information relevant to the preparation and processing of financial documents

Interpret and follow operational instructions and prioritise work

Complete documentation related to the preparation and processing of financial documents

Operate electronic communication equipment to required protocol

Perform required calculations both manually and with the aid of relevant equipment and calculators

Work collaboratively with others when preparing and processing financial documents

Adapt appropriately to cultural differences in the workplace, including modes of behaviour and interactions with others

Promptly report and/or rectify any identified problems that may arise when preparing and processing financial documents in accordance with regulatory requirements and workplace procedures

Implement contingency plans for unanticipated situations that may occur when preparing and processing financial documents

Monitor work activities in terms of planned schedule

Modify activities depending on differing operational contingencies, risk situations and environments

Work systematically with required attention to detail

Select and use relevant equipment when preparing and processing financial documents, including the use of an appropriate range of office equipment, computer systems and financial software packages

Adapt to differences in equipment in accordance with standard operating procedures

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance.

Work may be conducted in:

a range of organisations in the transport, warehousing, distribution and/or storage industries and may be conducted by day or night

Customers may be:

internal or external

Requirements for work may include:

site restrictions and procedures

use of safety and personal protective equipment

specified loading operations

communications equipment

hours of operation

authorities and permits

financial regulations and processes

privacy and security procedures

Processing of financial documents may include:

recording and balancing petty cash transactions

balancing all transactions

rectifying discrepancies as directed

preparing invoices for debtors

preparing and processing banking documents

Lodgement of transactions with financial institutions may include:

electronic banking

manual processes including the use of third parties

Preparation of documentation is undertaken:

within scope of authority

Business source documents may include:

electronic banking

requisitions

orders

service statements

invoices and receipts

despatch and receival notes

credit notes

statements

sales tax statements

consignment notes

Communications systems may involve:

telephone

fax

email

electronic data transfer of information (EDI)

mail

Consultative processes may involve:

other employees and supervisors

suppliers, potential customers and existing clients

relevant authorities

banking institutions

other agencies

management and union representatives

OH&S specialists

other maintenance, professional or technical staff

Depending on the type of organisation concerned and the local terminology used, workplace procedures may include:

company procedures

workplace procedures

organisational procedures

established procedures

Documentation/records may include:

operations manuals, job specifications and procedures and induction documentation

guidelines concerning relevant financial regulations, codes and procedures including relevant taxation requirements

competency standards and training materials

manufacturers/client specifications, instructions and labelling advice including material safety data sheets

workplace operating procedures and policies

supplier and/or client instructions

Australian and international standards, criteria and certification requirements

communications technology equipment, oral, aural or signed communications

OH&S procedures

quality assurance procedures

security procedures

Applicable regulations and legislation may include:

relevant financial regulations, codes and procedures including relevant taxation requirements

Australian and international standards and certification requirements

relevant state/territory OH&S legislation

relevant state/territory environmental protection legislation

international transport regulations, codes and procedures

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
Petty cash vouchers are prepared in accordance with workplace procedures 
Petty cash claims and vouchers are checked for accuracy and authenticity before processing 
Petty cash transactions are recorded 
Irregularities are noted and referred to nominated person/section in accordance with workplace procedures 
Transactions are presented to nominated person/section for checking in accordance with workplace procedures 
Invoices for payment to creditors are reconciled in accordance with workplace procedures 
Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures 
Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures 
Correct and authorised invoices are processed for payment and, where required, entered into financial records 
Creditor enquiries are resolved within scope of authority or referred to other personnel in accordance with workplace procedures 
Preparatory calculations are performed to produce accurate invoices 
Relevant documentation is completed to ensure accuracy of contents 
Invoices are distributed to nominated personnel for verification prior to despatch 
Verified invoices are despatched within designated timelines 
Verified figures are entered into financial journals 
Documents are filed for auditing purposes and, if required, follow-up action 
Financial transactions are listed on deposit forms in accordance with financial institution's requirements 
Pay-in documentation is balanced with all financial calculations 
Financial institution deposit totals are balanced with internal records 
Deposits are lodged with the financial institution 

Forms

Assessment Cover Sheet

TLIQ707C - Prepare and process financial documents
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

TLIQ707C - Prepare and process financial documents

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: