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

FNSRTS308 Mapping and Delivery Guide
Balance cash holdings

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSRTS308 - Balance cash holdings
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to clear registers, count money, calculate non-cash transactions and reconcile takings, and balance cash holdings.It applies to individuals who use numeracy skills to undertake financial duties, including checks for accuracy of transactions, and closely adhere to organisational requirements and 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

equipment relevant to balancing cash holdings

financial cash and non-cash transaction system and consumables.

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 accurate cash floats
  • Maintain cash in drawer in accordance with organisational policy and procedures
  • Conduct regular cash transaction processing and proofings within specified timeframes, and appropriately record and check accuracy with cash withdrawn and deposited
  • Count cash at close of business in accordance with organisational policy and procedures, and investigate and correct discrepancies to balance float
  • Maintain cash within set limits in compliance with organisational budget
       
Element: Remove receipts from terminal
  • Follow organisational policy and procedures to perform terminal balances, ensuring float is separated from takings prior to balancing, and supply cash to terminal
  • Record terminal information appropriately after accurate checking
  • Follow security policy and procedures in removal and transportation of cash, cash float and non-cash documents
       
Element: Reconcile takings
  • Correctly count and calculate cash and non-cash documents with terminal reading, and compare sum of cash and non-cash transactions appropriately to achieve balance
  • Accurately document records of individual takings in accordance with organisational policy and procedures
       


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 accurate cash floats

1.1 Maintain cash in drawer in accordance with organisational policy and procedures

1.2 Conduct regular cash transaction processing and proofings within specified timeframes, and appropriately record and check accuracy with cash withdrawn and deposited

1.3 Count cash at close of business in accordance with organisational policy and procedures, and investigate and correct discrepancies to balance float

1.4 Maintain cash within set limits in compliance with organisational budget

2. Remove receipts from terminal

2.1 Follow organisational policy and procedures to perform terminal balances, ensuring float is separated from takings prior to balancing, and supply cash to terminal

2.2 Record terminal information appropriately after accurate checking

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

3. Reconcile takings

3.1 Correctly count and calculate cash and non-cash documents with terminal reading, and compare sum of cash and non-cash transactions appropriately to achieve balance

3.2 Accurately document records of individual takings in accordance with organisational policy and procedures

Evidence of the ability to:

maintain cash float limit in accordance with cash requirements

conduct regular checks of cash transaction processing in a timely and efficient manner

check the system for discrepancies and perform cashier daily balance processes

accurately count and reconcile cash holdings in accordance with organisational requirements and procedures

accurately check cash and non-cash transactions, and complete required documentation.

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:

outline the key steps and reasons for maintaining cash float and reconciliation of cash holdings

describe the key features of organisational policy and procedures relating to:

terminal balancing

cash and non-cash transaction security

cash float handling

processing timeframes.

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 accurate cash floats

1.1 Maintain cash in drawer in accordance with organisational policy and procedures

1.2 Conduct regular cash transaction processing and proofings within specified timeframes, and appropriately record and check accuracy with cash withdrawn and deposited

1.3 Count cash at close of business in accordance with organisational policy and procedures, and investigate and correct discrepancies to balance float

1.4 Maintain cash within set limits in compliance with organisational budget

2. Remove receipts from terminal

2.1 Follow organisational policy and procedures to perform terminal balances, ensuring float is separated from takings prior to balancing, and supply cash to terminal

2.2 Record terminal information appropriately after accurate checking

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

3. Reconcile takings

3.1 Correctly count and calculate cash and non-cash documents with terminal reading, and compare sum of cash and non-cash transactions appropriately to achieve balance

3.2 Accurately document records of individual takings in accordance with organisational policy and procedures

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 in drawer in accordance with organisational policy and procedures 
Conduct regular cash transaction processing and proofings within specified timeframes, and appropriately record and check accuracy with cash withdrawn and deposited 
Count cash at close of business in accordance with organisational policy and procedures, and investigate and correct discrepancies to balance float 
Maintain cash within set limits in compliance with organisational budget 
Follow organisational policy and procedures to perform terminal balances, ensuring float is separated from takings prior to balancing, and supply cash to terminal 
Record terminal information appropriately after accurate checking 
Follow security policy and procedures in removal and transportation of cash, cash float and non-cash documents 
Correctly count and calculate cash and non-cash documents with terminal reading, and compare sum of cash and non-cash transactions appropriately to achieve balance 
Accurately document records of individual takings in accordance with organisational policy and procedures 

Forms

Assessment Cover Sheet

FNSRTS308 - Balance cash holdings
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

FNSRTS308 - Balance cash holdings

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: