Application
This unit of competency specifies the outcomes required to maintain credit control in a waste management organisation. The unit covers monitoring accounts payable to identify clients with overdue accounts, and negotiating payment arrangements with debtors. The unit also covers communicating and reporting the status of overdue accounts, calculating interest charges or fines, and monitoring debtor compliance with agreed payment arrangements. It requires the ability to use a computer and relevant accounting software to maintain financial records.
The unit supports those who work under limited supervision in a waste management team.
No licensing, legislative, regulatory, or certification requirements apply to this unit of competency at the time of endorsement.
Elements and Performance Criteria
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions. | ||
1. | Identify overdue accounts. | 1.1. | Current state of accounts payable is monitored regularly according to organisational requirements. |
1.2. | Clients with overdue accounts are identified according to organisational requirements. | ||
1.3. | Overdue or outstanding accounts are reported to relevant | ||
2. | Notify debtor and negotiate payment. | 2.1. | Debtor is notified of overdue account and associated interest charges or fines according to organisational requirements. |
2.2. | Communication, discussions and negotiations are conducted with debtors according to organisational requirements. | ||
2.3. | Arrangements for payment are agreed and recorded according to organisational and compliance requirements. | ||
2.4. | Compliance with agreed arrangements is monitored and further action is taken as required according to organisational requirements. | ||
Evidence of Performance
A person demonstrating competency in this unit must satisfy the requirements of the elements, performance criteria, foundation skills and range of conditions of this unit.
The person must also maintain credit control for four overdue waste management accounts.
While maintaining above credit control, the person must:
regularly monitor accounts payable to identify clients with overdue accounts
follow organisational procedures and comply with regulatory and legal requirements to:
calculate interest charges and fines
communicate with debtors to negotiate payment of overdue accounts
record and report financial information relating to accounts payable and credit control
receive debtor payments
negotiate account payment with debtors and monitor compliance with agreed payment arrangements
use a computer and relevant accounting software to prepare financial information.
Evidence of Knowledge
A person demonstrating competency in this unit must demonstrate knowledge of:
organisational financial policies and procedures relating to:
accounting and ledger systems
debt collection
double-entry bookkeeping operation of computer and manual systems
invoicing processes
liquidity management
record-keeping requirements for accounts receivable
sources of credit status information
regulatory and legal compliance requirements relating to accounts and credit control
taxes and fees for different waste types.
Assessment Conditions
The following must be present and available to learners during assessment activities:
equipment:
computer and software appropriate for maintaining accounts data
relationships with team members and supervisor:
working under limited supervision.
Timeframe:
as specified by organisational requirements.
Assessor requirements
As a minimum, assessors must satisfy the assessor requirements in the Standards for Registered Training Organisations (RTOs) current at the time of assessment.
Foundation Skills
This section describes the language, literacy, numeracy and employment skills essential to performance in this unit but not explicit in the performance criteria. | |
Skill | Performance feature |
Numeracy skills to: | calculate fees and charges for overdue accounts. |
Oral communication skills to: | ask questions to elicit information from debtors. |
Writing skills to: | complete financial records using organisational proformas. |
Problem-solving skills to: | facilitate agreed payment arrangements and credit control. |
Technology skills to: | record accounts information using computers and spreadsheets. |
Range Statement
This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below. | |
Relevant personnel | client debtor manager supervisor or team leader. |
Compliance requirements | commonwealth, state and territory legislation relating to credit control in waste management, including: anti-discrimination industrial relations taxation trade practices. |
Sectors
Waste management