Elements and Performance Criteria
- Receive, identify and record receipt
- Established procedures are followed
- All receipts are checked for accuracy against remittance document
- All receipts are accurately recorded in accordance with company procedures
- Remittance types are accurately identified to ensure correct allocation
- Batching is completed in accordance with company systems and operating procedures
- Relevant departments are advised of total daily receipts according to company operating procedures
- Match receipts to documentation
- Receipts are checked and matched to documentation accurately and promptly in accordance with company procedures
- Security of documentation is maintained to protect interests of all parties to transaction
- Unmatched receipts are noted for follow-up and/or referral in accordance with company, industry and legislative requirements
- Enter data to systems
- All receipts are accurately allocated to appropriate chart of account areas
- Data is entered to systems without error and within time requirements, as specified in relevant company policy and procedures
- All receipts are accurately matched to system debit
- Data and allocation discrepancies are identified promptly to enable early follow-up
- Advice on source and solution to discrepancies is sought, where necessary, to solve outstanding problems
- Related systems are updated
- Reconciliations are completed and discrepancies between general ledger and sub systems are resolved
- File documentation