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Elements and Performance Criteria

1. Process customer payments.
   • Receive, check and record cash float.
   • Check customer payments against sale value.
   • Provide correct change for cash payments.
   • Process and record transactions according to organisational procedures.
   • Prepare and issue accurate receipts including all relevant tax details.
   • Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.
2. Reconcile takings.
   • Balance customer payments at designated time according to organisational policy.
   • Separate cash floats from takings prior to balancing.
   • Determine point-of-sale records of customer payments.
   • Accurately count and calculate customer payments.
   • Balance cash and other payments with point-of-sale records.
   • Investigate or report discrepancies in the reconciliation.
   • Record takings according to organisational procedures.
   • Transport and secure cash floats, cash and other payments according to organisational security procedures.

Performance Evidence

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

process at least six different financial transactions using at least three different types of financial transactions listed in the knowledge evidence to address different types of customer payments

process each of the above financial transactions:

in line with security and other relevant procedures

in a logical sequence

within customer time constraints

so that all customers are served effectively

complete reconciliations of three different work or service periods within designated timelines.

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Knowledge Evidence

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

types of financial transactions that commonly take place in tourism, travel, hospitality and event organisations:

advance payments

application of goods and services tax (GST)

payments:

cash

cheque

credit card

electronic funds transfer at point of sale (EFTPOS)

deposits

foreign currency

petty cash disbursements

refunds

traveller’s cheques

vouchers

procedures for processing and recording different types of transactions:

completing reconciliation records

complying with financial institution documents and procedures

designated times for completing reconciliations

handling customer claims of short change

how and where large sums of cash should be counted

maintaining low levels of cash in tills

managing petty cash

process for providing receipts and invoices to customers

process for taking cash from customers

securing credit card imprints

securing takings in the event of a hold-up

features and functions of point-of-sale software

role and importance of the reconciliation process to organisational financial management system

security procedures for transporting and securing cash floats, cash and other payments:

obtaining receipts or sign-off for takings handed over to financial personnel

separating and securing cash floats

transporting takings to back office areas and internal cashiers

transporting takings to the bank and obtaining receipts or sign-off

different products and services that attract GST.

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