This unit may apply to a range of job roles and is particularly relevant to small financial and other organisations where manual cash balances are conducted.

ELEMENT

PERFORMANCE CRITERIA

1. Maintain accurate cash floats

1.1. Cash in drawer is maintained in accordance with organisation's policies and procedures

1.2. Regular cash transaction processing and proofings are conducted within specified timeframes and recorded appropriately with cash withdrawn and deposited checked for accuracy

1.3. Cash at close of business is counted in accordance with organisation's policies and procedures and discrepancies are investigated and corrected in order to balance float

1.4. Cash within organisation budget is maintained within set limits

2. Remove receipts from terminal

2.1. Terminal balances are performed in line with organisation's policies and procedures and cash supplied to terminal according to organisation policies and procedures with float separated from takings prior to balancing procedures

2.2. Terminal information is recorded appropriately after accurate checking

2.3. Security policies and procedures are followed in the removal and transportation of cash, cash float and non-cash documents

3. Reconcile takings

3.1. Cash and non-cash documents are correctly counted and calculated with terminal reading and sum of cash and non-cash transactions compared appropriately to achieve balance

3.2. Records of individual takings are recorded accurately and in accordance with organisation's policies and procedures

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

make basic cash and non-cash balancing calculations

access and use computer-based transaction systems

problem solving skills to address balance errors and issues

literacy skills to read documents and complete forms and transaction records accurately

organisational skills, including the ability to plan and sequence work

teamwork skills to work cooperatively with others

self-management skills for complying with procedural requirements

Required knowledge

relevant legislation and statutory requirements including:

Consumer Credit Code

Privacy Act

Industry codes of practice

security checking procedures

the operation and maintenance of equipment which may include:

security equipment

transaction terminals

numerical display boards

calculators

scanners

organisational policies and procedures in regard to:

terminal balancing

cash and non-cash transaction security

cash float handling

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:

accurately balance cash holdings in accordance with the organisation's requirements and procedures and precisely check cash and non-cash transactions.

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 a financial cash and non-cash transaction system and consumables.

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

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.

Cash in drawer includes:

notes and coins held in manual cash handling devices.

Terminal includes:

a range of manual or electronic equipment used for the deposit and withdrawal of cash and non-cash documents.

Organisation policies and procedures include policies and procedures relating to:

neatness and tidiness of cash in drawer

terminal balancing and security

time frames for:

processing transactions

periodic and end of day balances

recording of discrepancies.

Security policies and procedures includes:

organisational policies and procedures that specifically refer to the securing and safe handling and transport of money and non-cash transactions.

Non-cash documents or transactions may include

cheques

credit cards

EFTPOS.

Accurate recording of information may require recording on:

duplicate or triplicate copies

permanent hard copy

proformas.

Unit sector

Financial retail services

This unit contains employability skills.