Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSACM303A Mapping and Delivery Guide
Process payment documentation

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency FNSACM303A - Process payment documentation
Description This unit describes the performance outcomes, skills and knowledge required to identify payments for processing and accurately process financial payment documents.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Employability Skills This unit contains employability skills.
Learning Outcomes and Application This unit applies to any job role with responsibility for processing payment documentation.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Enter data to system
  • Data is entered into systems without error and within time requirements as specified in relevant organisation policy and procedures
  • Data is allocated to correct systems and accounts and related systems are updated
  • System controls are maintained to ensure the integrity and security of client and payee database
       
Element: Create payment facility
  • Payment facility is processed accurately in accordance with organisation policy and procedures
  • Documentation is maintained in a secure manner to protect the privacy and interests of all parties
       
Element: Verify payments against documentation
  • Authorisation for payment is confirmed with information on payment facility matching approved documentation
  • Discrepancies are identified and followed up promptly
       
Element: Effect payments
  • Payments are made within agreed credit arrangements in accordance with organisation policy and procedures and industry and legislative requirements
  • Payment instruments are signed in accordance with relevant authority levels and related systems updated promptly to ensure that the integrity of accounting systems are maintained
  • Primary documentation associated with payment is cancelled or noted to ensure multiple payments are not made
       
Element: File documentation
  • Documentation is filed promptly in accordance with organisation policy and procedures
  • Location of filed documentation is easily accessible and traceable
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range Statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

interpret and apply organisation, industry and legislative requirements for processing payment documentation

accurately enter data in organisation systems

create payment facilities and verify payments against documentation.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to an integrated financial software system and data

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Required skills

communication skills to:

determine and confirm work requirements and interact with customers, using questioning and active listening as required

share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy skills to make financial calculations

information technology skills for accessing and using accounting systems, spreadsheets, databases and internet information

evaluation skills to determine payment status and any discrepancies

literacy skills for data analysis and entry

organisational skills, including the ability to plan and sequence work

Required knowledge

awareness of relevant acts and regulations

industry codes of practice

organisation policy and procedures

relevant legal systems and procedures impacting on payment systems

The range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Organisation policy and procedures may include:

computer system documentation

internal control guidelines

operations manuals.

Related systems may include:

assets system

claims

commissions and fees

holding/suspense accounts

receivables

reinsurance

tax related.

Systems controls:

protect against the corruption of payee:

name

address

bank account details.

Payment facility documentation may include:

authorisation slips

batch records

cheque cancellations

confirmation of receipt

delivery dockets

invoices

payment requests

periodic approvals

signature verifications

stop payments.

Industry and legislative requirements may cover:

Anti-Money Laundering and Counter Terrorism Financing Acts

Consumer Credit Protection (Fees) Act

industry codes of practice

occupational health and safety (OHS) acts and guidelines

Privacy Act

relevant Insurance Act

Stamp Duties Act

Taxation Act.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Data is entered into systems without error and within time requirements as specified in relevant organisation policy and procedures 
Data is allocated to correct systems and accounts and related systems are updated 
System controls are maintained to ensure the integrity and security of client and payee database 
Payment facility is processed accurately in accordance with organisation policy and procedures 
Documentation is maintained in a secure manner to protect the privacy and interests of all parties 
Authorisation for payment is confirmed with information on payment facility matching approved documentation 
Discrepancies are identified and followed up promptly 
Payments are made within agreed credit arrangements in accordance with organisation policy and procedures and industry and legislative requirements 
Payment instruments are signed in accordance with relevant authority levels and related systems updated promptly to ensure that the integrity of accounting systems are maintained 
Primary documentation associated with payment is cancelled or noted to ensure multiple payments are not made 
Documentation is filed promptly in accordance with organisation policy and procedures 
Location of filed documentation is easily accessible and traceable 

Forms

Assessment Cover Sheet

FNSACM303A - Process payment documentation
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSACM303A - Process payment documentation

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: