This unit applies to any job role with responsibility for processing payment documentation. |
ELEMENT | PERFORMANCE CRITERIA |
1. Enter data to system | 1.1. Data is entered into systems without error and within time requirements as specified in relevant organisation policy and procedures 1.2. Data is allocated to correct systems and accounts and related systems are updated 1.3. System controls are maintained to ensure the integrity and security of client and payee database |
2. Create payment facility | 2.1. Payment facility is processed accurately in accordance with organisation policy and procedures 2.2. Documentation is maintained in a secure manner to protect the privacy and interests of all parties |
3. Verify payments against documentation | 3.1. Authorisation for payment is confirmed with information on payment facility matching approved documentation 3.2. Discrepancies are identified and followed up promptly |
4. Effect payments | 4.1. Payments are made within agreed credit arrangements in accordance with organisation policy and procedures and industry and legislative requirements 4.2. Payment instruments are signed in accordance with relevant authority levels and related systems updated promptly to ensure that the integrity of accounting systems are maintained 4.3. Primary documentation associated with payment is cancelled or noted to ensure multiple payments are not made |
5. File documentation | 5.1. Documentation is filed promptly in accordance with organisation policy and procedures 5.2. Location of filed documentation is easily accessible and traceable |
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Required skills |
communication skills to: determine and confirm work requirements and interact with customers, using questioning and active listening as required share information, listen and understand use language and concepts appropriate to cultural differences numeracy skills to make financial calculations information technology skills for accessing and using accounting systems, spreadsheets, databases and internet information evaluation skills to determine payment status and any discrepancies literacy skills for data analysis and entry organisational skills, including the ability to plan and sequence work |
Required knowledge |
awareness of relevant acts and regulations industry codes of practice organisation policy and procedures relevant legal systems and procedures impacting on payment systems |
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range Statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the ability to: interpret and apply organisation, industry and legislative requirements for processing payment documentation accurately enter data in organisation systems create payment facilities and verify payments against documentation. |
Context of and specific resources for assessment | Assessment must ensure: competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment access to and the use of a range of common office equipment, technology, software and consumables access to an integrated financial software system and data |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit: evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency verbal or written questioning on underpinning knowledge and skills evaluating samples of work accessing and validating third party reports. |
Guidance information for assessment | |
The range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Organisation policy and procedures may include: | computer system documentation internal control guidelines operations manuals. |
Related systems may include: | assets system claims commissions and fees holding/suspense accounts receivables reinsurance tax related. |
Systems controls: | protect against the corruption of payee: name address bank account details. |
Payment facility documentation may include: | authorisation slips batch records cheque cancellations confirmation of receipt delivery dockets invoices payment requests periodic approvals signature verifications stop payments. |
Industry and legislative requirements may cover: | Anti-Money Laundering and Counter Terrorism Financing Acts Consumer Credit Protection (Fees) Act industry codes of practice occupational health and safety (OHS) acts and guidelines Privacy Act relevant Insurance Act Stamp Duties Act Taxation Act. |
Unit sector | Account management |
This unit contains employability skills. |
Not applicable.