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

FNSRTS303 Mapping and Delivery Guide
Balance retail transactions

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSRTS303 - Balance retail transactions
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to balance cash holdings, including clearing registers, counting money, calculating non-cash transactions and reconciling takings within institutions where teller cash dispensers automate a significant proportion of the cash balancing function.It applies to individuals who have well-developed numeracy skills, accurately perform and check financial calculations, and closely follow organisational procedures.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial retail services field of work and include access to:

common office equipment, technology, software and consumables

integrated transaction system and data.

Assessors must satisfy NVR/AQTF assessor requirements.
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: Maintain terminal balances
  • Maintain cash drawers or teller cash dispensers in accordance with organisational policy and procedures
  • Manually check paid out cash for accuracy and balance transactions at close of business in accordance with organisational policy and procedures, with any discrepancies investigated and corrected to balance terminal
       
Element: Remove receipts from terminal
  • Perform terminal balances in line with organisational policy and procedures
  • Supply cash to terminal or drawer according to organisational policy and procedures and record information appropriately after accurate checking
  • Follow security policy and procedures in removal and transportation of cash and non-cash documents
       
Element: Reconcile receipts
  • Correctly count and calculate cash and non-cash documents
  • Compare terminal reading and sum of cash and non-cash transactions appropriately to achieve balance
  • Accurately record, in accordance with organisational policy and procedures, records of individual takings
       


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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Maintain terminal balances

1.1 Maintain cash drawers or teller cash dispensers in accordance with organisational policy and procedures

1.2 Manually check paid out cash for accuracy and balance transactions at close of business in accordance with organisational policy and procedures, with any discrepancies investigated and corrected to balance terminal

2. Remove receipts from terminal

2.1 Perform terminal balances in line with organisational policy and procedures

2.2 Supply cash to terminal or drawer according to organisational policy and procedures and record information appropriately after accurate checking

2.3 Follow security policy and procedures in removal and transportation of cash and non-cash documents

3. Reconcile receipts

3.1 Correctly count and calculate cash and non-cash documents

3.2 Compare terminal reading and sum of cash and non-cash transactions appropriately to achieve balance

3.3 Accurately record, in accordance with organisational policy and procedures, records of individual takings

Evidence of the ability to:

maintain cash drawers and relevant cash dispensers

undertake all tasks related to cash and non-cash documents in accordance with organisational procedures and security requirements

accurately balance daily management of cash holdings and record in accordance with organisational requirements and procedures

precisely check cash and non-cash transactions

effectively use relevant data entry, terminal and office equipment.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe the key features of industry codes of practice and legislation including:

National Credit Code

Privacy Act

Credit Act

describe the key features of organisational policy and procedures relating to balancing transactions, including security policy and procedures

describe the steps involved in cash and non-cash security checking procedures

identify the key operational features and maintenance requirements of equipment and cash stocks.

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.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Maintain terminal balances

1.1 Maintain cash drawers or teller cash dispensers in accordance with organisational policy and procedures

1.2 Manually check paid out cash for accuracy and balance transactions at close of business in accordance with organisational policy and procedures, with any discrepancies investigated and corrected to balance terminal

2. Remove receipts from terminal

2.1 Perform terminal balances in line with organisational policy and procedures

2.2 Supply cash to terminal or drawer according to organisational policy and procedures and record information appropriately after accurate checking

2.3 Follow security policy and procedures in removal and transportation of cash and non-cash documents

3. Reconcile receipts

3.1 Correctly count and calculate cash and non-cash documents

3.2 Compare terminal reading and sum of cash and non-cash transactions appropriately to achieve balance

3.3 Accurately record, in accordance with organisational policy and procedures, records of individual takings

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
Maintain cash drawers or teller cash dispensers in accordance with organisational policy and procedures 
Manually check paid out cash for accuracy and balance transactions at close of business in accordance with organisational policy and procedures, with any discrepancies investigated and corrected to balance terminal 
Perform terminal balances in line with organisational policy and procedures 
Supply cash to terminal or drawer according to organisational policy and procedures and record information appropriately after accurate checking 
Follow security policy and procedures in removal and transportation of cash and non-cash documents 
Correctly count and calculate cash and non-cash documents 
Compare terminal reading and sum of cash and non-cash transactions appropriately to achieve balance 
Accurately record, in accordance with organisational policy and procedures, records of individual takings 

Forms

Assessment Cover Sheet

FNSRTS303 - Balance retail transactions
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

FNSRTS303 - Balance retail transactions

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: