FNSACM303
Process payment documentation


Application

This unit describes the skills and knowledge required when processing payment facilities.

It applies to individuals who may work under supervision but have responsibility in ensuring the prompt and accurate processing of customer requests.

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. Enter data to system

1.1 Enter data into systems without error and within time requirements in accordance with organisational policy and procedures

1.2 Allocate data to correct systems and accounts, and update related systems

1.3 Maintain system controls to ensure integrity and security of customer and payee database

2. Create payment facility

2.1 Process payment facility accurately in accordance with organisational policy and procedures

2.2 Maintain documentation in secure manner to protect privacy and interests of all parties

3. Verify payments against documentation

3.1 Confirm payment authorisation, with information on payment facility matching approved documentation

3.2 Identify discrepancies and follow up promptly

4. Effect payments

4.1 Make payments within agreed credit arrangements in accordance with organisational policy and procedures, and industry and legislative requirements

4.2 Ensure payment instruments are signed in accordance with relevant authority levels, and related systems updated promptly to ensure that integrity of accounting systems is maintained

4.3 Cancel or note primary documentation associated with payment to ensure multiple payments are not made

5. File documentation

5.1 File documentation promptly in accordance with organisational policy and procedures

5.2 File documentation in location that is accessible and easily traceable

Evidence of Performance

Evidence of the ability to:

accurately enter data in organisational systems

create payment facilities and verify payments against documentation

make payments following organisational procedures and legislative requirements

file documents accurately and promptly in the correct location.

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 and industry codes of practice relevant to payment systems

describe organisational policy and procedures relating to processing payment documentation

describe organisational system controls used in processing payments.


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

2.1, 3.1, 3.2, 4.2

Interprets and analyses information from a range of sources to confirm accuracy and determine required actions

Writing

1.1, 1.2, 3.2, 4.2

Uses clear and specialised language to accurately document requirements and outcomes

Oral Communication

3.2, 4.2

Uses appropriate vocabulary to provide or gather information

Uses questioning and active listening to confirm requirements

Numeracy

1.1, 3.2

Makes estimates relating to timeframes

Performs mathematical calculations to check accuracy of data

Navigate the world of work

1.1, 1.3, 2.1, 2.2, 4.1, 4.2, 5.1

Recognises and follows organisational protocols, policy and procedures, and industry and legislative requirements, relevant to own role

Get the work done

1.1-1.3, 2.1, 2.2, 3.1, 3.2, 4.1-4.3, 5.1, 5.2

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