Google Links

Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Implement integrated accounting system
   • Implement general ledger, chart of accounts and subsidiary accounts in accordance with organisational requirements, procedures and policy
   • Set up customers, suppliers and inventory items in system to meet organisational requirements and reporting requirements of goods and services tax (GST)
   • Use appropriate technical help to solve any operational problems
2. Process transactions within system
   • Collate, code and classify input data before processing
   • Process wide range of cash and credit transactions in service and trading environment
   • Use general journal to make any balance day adjustments for prepayments and accruals
   • Regularly review system output to verify accuracy of data input and make adjustments for any detected processing errors
   • Perform end of financial year rollover
3. Maintain system
   • Add any new general ledger accounts, customer, supplier, inventory and fixed asset records as required
   • Maintain and update existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts
   • Customise chart of accounts to meet reporting requirements of organisation
4. Produce reports
   • Generate reports to indicate financial performance and financial position of organisation and for GST purposes as required or requested
   • Generate reports to ensure that subsidiary ledgers and accounts reconcile with general ledger
   • Generate reports, which ensure that bank account reconciles with bank statement, over at least two reporting periods
5. Ensure system integrity
   • Regularly back-up system to ensure against loss or corruption of data
   • Restore data from back-ups in event of loss or corruption of current data
   • Maintain secure record of all processed transactions for audit purposes