SIRRRTF001
Balance and secure point-of-sale terminal


Application

This unit describes the performance outcomes, skills and knowledge required to balance and reconcile a register or terminal in a retail environment, clear registers, count money, calculate non cash transactions, and reconcile and record takings.

It applies to individuals working in frontline operational roles in a diverse range retail industry sectors and business contexts. They operate with some independence under general supervision and guidance from others, and within established organisational policies and procedures.

No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.


Elements and Performance Criteria

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Balance and secure takings.

1.1.Perform register or terminal balance at designated times.

1.2.Separate cash float from takings prior to balancing and secure takings.

1.3.Supply change to register or terminal and accurately record.

1.4.Obtain and interpret register or terminal reading or print-out.

1.5.Secure cash and non cash documents according to organisational procedures.

2. Reconcile takings.

2.1.Count cash accurately.

2.2.Calculate non cash documents accurately.

2.3.Determine balance between register or terminal reading and sum of cash and non cash transactions.

2.4.Investigate or report discrepancies between register or terminal reading and sum of cash and non cash transactions to relevant personnel.

2.5.Record takings and file records according to organisational procedures.

Evidence of Performance

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

consistently apply organisational policies and procedures to:

balance a register or terminal on three occasions with complete accuracy

reconcile three different sets of takings comprising both cash and non-cash with complete accuracy

identify and resolve three different types of balancing discrepancies

process three different types of takings according to organisational policies and procedures.


Evidence of Knowledge

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

role and importance of the balancing process

techniques for identifying and resolving discrepancies

functions and procedures for operating point-of-sale equipment:

opening and closing

balancing

clearance of terminal and transference of tender

recording takings

consumables required by system

security

cash handling procedures:

counting cash

handling cash floats

change required, denominations of change and tendering change

security

organisational policies and procedures for non-cash transactions:

credit cards

EFTPOS

vouchers

organisational policies and procedures for:

exchanges

refunds

lay-by

cash handling

cash float

operation of point-of-sale equipment

register or terminal balance

security of cash and non cash transactions.


Assessment Conditions

Skills must be demonstrated in a retail environment. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

organisational policies and procedures related to point-of-sale

point-of-sale equipment and consumables

financial transaction documentation for non-cash sales

cash

assessment activities that allow the individual to work with commercial speed, timing and productivity.

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.


Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.


Sectors

Retail


Competency Field

Retail Financials