Application
This unit describes the skills and knowledge required when processing and storing accounts documentation.
It applies to individuals who may be required to work as part of a finance or accounting team.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Receive, identify and record receipts | 1.1 Check receipts against remittance documentation in accordance with established procedures 1.2 Record and allocate receipts accurately in accordance with organisational policy and procedures 1.3 Complete batching in accordance with organisational systems and operating procedures, and advise relevant departments of total daily receipts |
2. Match receipts to documentation | 2.1 Check and match receipts to documentation accurately and promptly, and maintain documentation securely to protect interests of all parties to transaction 2.2 Note unmatched receipts for follow up or referral in accordance with organisational, industry and legislative requirements |
3. Enter data to systems | 3.1 Record and allocate receipts to appropriate chart of accounts in timely and accurate manner in accordance with organisational policy and procedures 3.2 Match receipts accurately to system debit, and promptly identify data and allocation discrepancies for follow up 3.3 Seek advice on source of and solution to discrepancies, where necessary, to solve outstanding problems 3.4 Update related systems, complete reconciliations and resolve discrepancies between general ledger and sub-systems |
4. File documentation | 4.1 File documentation promptly in accordance with organisational policy and procedures 4.2 File documentation in location that is accessible and easily traceable |
Evidence of Performance
Evidence of the ability to:
check, batch and match receipts accurately to relevant documentation following organisational policy and procedures for processing receipts
follow up discrepancies with appropriate personnel to solve outstanding issues
enter data into the organisational systems and correctly file documentation.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
Evidence of Knowledge
To complete the unit requirements safely and effectively, the individual must:
identify the key requirements of legislation relevant to payment systems
outline organisational policy and procedures relating to receipting payments
identify possible areas of discrepancy when processing receipts.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the account management field of work and include access to:
common office equipment, technology, software and consumables
an integrated financial software system and data.
Assessors must satisfy NVR/AQTF assessor requirements.
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill | Performance Criteria | Description |
Reading | 1.1, 1.2, 2.1, 2.2, 3.1, 3.2, 3.4 | Interprets and analyses information to confirm accuracy and determine required actions |
Writing | 1.2, 2.2, 3.1, 3.2, 3.3 | Records information accurately in accordance with requirements |
Oral Communication | 1.3, 2.2, 3.3 | Uses clear, specific and culturally sensitive language to convey information Uses listening and questioning techniques to confirm understanding of requirements |
Numeracy | 1.1, 2.1, 3.1, 3.2, 3.4 | Performs mathematical calculations to check accuracy and completeness, and reconcile numerical and financial data Makes estimates relating to timeframes Uses numerically based coding system |
Navigate the world of work | 1.1-1.3, 2.1, 2.2, 3.1, 4.1 | Recognises and follows organisational protocols, policy and procedures relevant to own role |
Interact with others | 3.3 | Follows accepted organisational practices and protocols for communicating information or seeking advice |
Get the work done | 1.1-1.3, 2.1, 2.2, 3.1-3.4, 4.1, 4.2 | Plans, organises and implements tasks according to organisational requirements Follows structured processes to make routine decisions relevant to own role Uses the main features and functions of digital tools to complete work tasks |
Sectors
Account management