Application
This unit describes the skills and knowledge required to balance cash holdings, including clearing registers, counting money, calculating non-cash transactions and reconciling takings within institutions where teller cash dispensers automate a significant proportion of the cash balancing function.
It applies to individuals who have well-developed numeracy skills, accurately perform and check financial calculations, and closely follow organisational procedures.
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. Maintain terminal balances | 1.1 Maintain cash drawers or teller cash dispensers in accordance with organisational policy and procedures 1.2 Manually check paid out cash for accuracy and balance transactions at close of business in accordance with organisational policy and procedures, with any discrepancies investigated and corrected to balance terminal |
2. Remove receipts from terminal | 2.1 Perform terminal balances in line with organisational policy and procedures 2.2 Supply cash to terminal or drawer according to organisational policy and procedures and record information appropriately after accurate checking 2.3 Follow security policy and procedures in removal and transportation of cash and non-cash documents |
3. Reconcile receipts | 3.1 Correctly count and calculate cash and non-cash documents 3.2 Compare terminal reading and sum of cash and non-cash transactions appropriately to achieve balance 3.3 Accurately record, in accordance with organisational policy and procedures, records of individual takings |
Evidence of Performance
Evidence of the ability to:
maintain cash drawers and relevant cash dispensers
undertake all tasks related to cash and non-cash documents in accordance with organisational procedures and security requirements
accurately balance daily management of cash holdings and record in accordance with organisational requirements and procedures
precisely check cash and non-cash transactions
effectively use relevant data entry, terminal and office equipment.
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:
describe the key features of industry codes of practice and legislation including:
National Credit Code
Privacy Act
Credit Act
describe the key features of organisational policy and procedures relating to balancing transactions, including security policy and procedures
describe the steps involved in cash and non-cash security checking procedures
identify the key operational features and maintenance requirements of equipment and cash stocks.
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial retail services field of work and include access to:
common office equipment, technology, software and consumables
integrated transaction 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 | 2.1-2.3, 3.1, 3.2 | Accesses information from a range of sources and interprets financial documents to confirm and determine requirements |
Writing | 2.2, 3.3 | Correctly records information and completes transaction records, checking for accuracy of information and data |
Numeracy | 1.1, 1.2, 2.1, 3.1, 3.2 | Uses mathematical equations and organisational tools to calculate and balance cash and financial transactions |
Navigate the world of work | 1.1, 1.2, 2.1, 2.3, 3.3 | Takes responsibility for transaction balances, cash and non-cash handling and documentation requirements that comply with organisational policy and procedures |
Get the work done | 1.2, 2.2, 2.3, 3.2, 3.3 | Takes responsibility for the sequence and priority of tasks within own workload to achieve required outcomes efficiently and accurately Responds to predictable routine problems and implements standard or logical solutions Uses familiar digital tools and systems to complete job tasks |
Sectors
Financial retail services