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Elements and Performance Criteria

1. Record and balance petty cash transactions
2. Petty cash vouchers are prepared in accordance with workplace procedures
3. Before processing, petty cash claims and vouchers are checked for accuracy and authenticity
4. Petty cash transactions are recorded
5. Irregularities are noted and referred to nominated person/section in accordance with workplace procedures
6. Balance all transactions
7. Transactions are presented to nominated person/section for checking in accordance with workplace procedures
8. Invoices for payment to creditors are reconciled in accordance with workplace procedures
9. Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures
10. Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures
11. Rectify discrepancies as directed
12. Correct and authorised invoices are processed for payment and entered into financial records as required
13. Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures
14. Prepare invoices for debtors
15. Preparatory calculations are performed to produce accurate invoices
16. Relevant documentation is completed to ensure accuracy of contents
17. Invoices are distributed to nominated personnel for verification prior to despatch
18. Verified invoices are despatched within designated timelines
19. Verified figures are entered into financial journals
20. Documents are filed for auditing purposes and follow-up action is taken as required
21. Prepare and process banking documents
22. Financial transactions are listed on deposit forms in accordance with financial institution requirements
23. Pay-in documentation is balanced with all financial calculations
24. Financial institution deposit totals are balanced with internal records
25. Deposits are lodged with the financial institution

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions can be found in the Companion Volume Implementation Guide.

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Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

adapting to differences in equipment in accordance with standard operating procedures applying relevant legislation and workplace procedures communicating effectively with others when preparing and processing financial documents completing documentation related to preparing, processing and recording financial transactions implementing contingency plans interpreting and following operational instructions and prioritising work monitoring work activities in terms of planned schedule operating electronic communications equipment to required protocol performing required calculations both manually and with the aid of relevant equipment and calculators reading and interpreting instructions, procedures and information relevant to preparing and processing financial documents reporting and/or rectifying identified problems promptly, in accordance with regulatory requirements and workplace procedures selecting and using relevant equipment when preparing and processing financial documents, including the use of an appropriate range of office equipment, computer systems and financial software packages working collaboratively with others when preparing and processing financial documents working systematically with required attention to detail.

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Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

contacts and sources of information/documentation needed for preparing and processing financial documents customer service policies and procedures documentation requirements of banking institutions, governments and other relevant agencies relevant financial regulations, codes and procedures including pertinent taxation documentation requirements scope of authority when preparing documents typical problems that can occur when preparing and processing financial documents and appropriate action that can be taken to prevent or solve these problems workplace procedures for preparing and processing financial documents.

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