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Elements and Performance Criteria

1. Maintain financial journal systems
   • Check source documents for accuracy and appropriate authorisation
   • Refer errors and discrepancies in source documents for resolution in accordance with organisational policy and procedures
   • Enter transactions into cash and credit journal system in accordance with organisational policy and procedures and relevant legislation and compliance requirements
   • Total credit journals in accordance with organisational policy and procedures
2. Prepare bank reconciliations
   • Check cash journals against bank statements to identify differences
   • Update cash journals with relevant data from bank statement/s
   • Identify discrepancies and refer to appropriate staff member, organisation or agency
   • Total cash journals in accordance with organisational policy and procedures
   • Prepare regular reconciliation reports within designated timelines
3. Maintain accounts payable and accounts receivable systems
   • Enter transactions into individual accounts payable and accounts receivable in accordance with organisational policy and procedures and accounting requirements
   • Prepare schedules of accounts payable and accounts receivable for reconciliation purposes and in accordance with organisational requirements
   • Reconcile accounts payable and accounts receivable schedules with journal data or general ledger and in accordance with organisational requirements
4. Process payments for accounts payable
   • Reconcile accounts payable statements with accounting records and in accordance with organisational policy and procedures
   • Check payment documentation for accuracy of information and discrepancies and rectify errors in accordance with organisational requirements
5. Prepare statements for accounts receivable
   • Produce and check accounts receivable statements for accuracy in accordance with organisational policy and procedures
   • Rectify discrepancies and statements despatched within designated timelines
6. Follow up outstanding accounts
   • Maintain accounts receivable ledger system in accordance with organisational requirements and to reflect current credit situation
   • Conduct aged-analysis of accounts receivable to identify outstanding accounts and to determine collection procedures in accordance with organisational requirements
   • Report or follow up outstanding accounts in accordance with organisational policy and procedures
   • Monitor and review credit terms in accordance with credit policy and procedures