- FNSICGEN305B - Maintain daily financial/business records
FNSICGEN305B
Maintain daily financial/business records
Application
This unit requires the application of skills and knowledge to process routine documents such as application or claim forms, invoices, banking documents, and petty cash vouchers. It may be applied in any sector of the financial services industry.
This unit requires the application of skills and knowledge to process routine documents such as application or claim forms, invoices, banking documents, and petty cash vouchers. It may be applied in any sector of the financial services industry.
Prerequisites
Not applicable.
Elements and Performance Criteria
Elements and Performance Criteria | |||
Element | Performance Criteria | ||
1 | Process financial forms and applications | 1.1 | Information from documents is identified, checked and recorded |
1.2 | Documents are processed and recorded or transmitted to appropriate personnel | ||
1.3 | All work undertaken is in accordance with organisational procedures, legislation and regulations | ||
2 | Prepare and process banking documents and petty cash documents | 2.1 | Deposits and withdrawals are accurately entered and balanced according to organisational procedures, where applicable |
2.2 | Cheques and card vouchers are checked for validity before processing, where applicable | ||
2.3 | Banking documentation is reconciled with organisation's financial records, where applicable | ||
2.4 | Documentation is completed in accordance with banking guidelines | ||
3 | Process petty cash transactions | 3.1 | Petty cash claims and vouchers are checked, processed and recorded and petty cash book is balanced according to organisation's procedures |
3.2 | Any irregularities are referred to nominated person | ||
4 | Prepare and process invoices for payment to creditors and for debtors | 4.1 | Invoices are prepared in accordance with organisational procedures |
4.2 | Invoices are checked against source documents for accuracy | ||
4.3 | Any errors or inaccuracies are corrected | ||
4.4 | Invoices and related documents are filed for auditing purposes |
Required Skills
REQUIRED KNOWLEDGE&SKILLS |
Knowledge requirements include: the organisation's policies and procedures applying to financial documents relevant legislation and codes, relating to the operation of a business and to the tasks undertaken legislation relating to privacy and confidentiality procedures for handling cheques, vouchers and cash banking procedures and guidelines methods of calculating and presenting financial data the organisation's software and technology used to record and transmit financial information |
Skills requirements include: calculation skills ability to check accuracy of information (words and numbers) attention to detail ability to read and interpret financial data communication skills ability to relate to people from a range of social, cultural and ethnic backgrounds ability to work to set timelines |
Evidence Required
EVIDENCE GUIDE | |
Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace. | |
Overview of assessment requirements | |
To achieve competency in this unit, a person must be able to demonstrate: accurate and timely preparation and processing of financial documents in accordance with the organisation's policies and procedures | |
Critical aspects of evidence | |
Evidence required for demonstration of consistent performance: | Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment. |
Delivery/relationship to other units: | This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge. Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency. |
Assessment requirements | |
Method of assessment: | For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance. Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required. |
Context of assessment: | This unit may be assessed in the workplace or in a simulated environment. |
Resources required for assessment: | Assessment of this unit of competence requires access to company policies and practices and the technology/systems used by the company to provide services to customers. |
Range Statement
The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance. The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement. | |
Information may include: | names addresses amounts of money/figure dates account numbers/card numbers/cheque numbers |
Documents may include: | application forms claim forms petty cash vouchers invoices purchase orders |
receipts credit notes statements deposit books delivery dockets remittance advice | |
Appropriate personnel may include: | supervisor manager account department accounts clerk petty cash officer |
Organisational procedures may include: | legal and organisation policy and guidelines procedures for entering and balancing deposits procedures for checking validity of cheques and card vouchers security procedures cash handling procedures Australian Accounting and Auditing Standards |
Legislation and regulations may include: | award and enterprise agreement occupational health and safety (OH&S) legislation privacy equal employment opportunity (EEO) legislation Anti-discrimination legislation |
Validity may include: | signature dates amounts |
Banking documentation may include: | withdrawal forms deposit slips/books cheques |
Banking guidelines may include: | cash bundled accurate forms banking summary provided banking electronically |
Sectors
Not applicable.
Employability Skills
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
Licensing Information
Not applicable.