This unit is undertaken with some supervision. It requires the team member to demonstrate and apply the knowledge and skills required to process petty cash, cash and non-cash transactions; reconcile and process banking; identify and rectify delivery and document discrepancies; and process invoices for creditors and debtors according to store policy and procedures.

Nil

ELEMENT

PERFORMANCE CRITERIA

1

Process petty cash transactions.

1.1

Check petty cash claims for approval, accuracy and authenticity before processing.

1.2

Check and balance transactions according to store policy and procedures.

1.3

Note irregularities and refer to relevant personnel for resolution.

1.4

Process and record petty cash transactions within designated time limits.

2

Prepare banking documents.

2.1

Balance cashbook entries against record of takings.

2.2

Compile and balance deposit entries.

2.3

List cash and non-cash transactions on banking deposit forms according to the banking institution's guidelines.

2.4

Process in-store credit systems according to store policy.

3

Process non-cash transactions.

3.1

Balance non-cash transactions and present documentation to relevant personnel for checking.

3.2

Note irregularities and refer to relevant personnel for resolution.

4

Reconcile invoices for payment to creditors.

4.1

Identify discrepancies between invoices and delivery notes and report to relevant personnel or section for resolution.

4.2

Identify errors in invoice charges and report to relevant personnel or section for correction or resolution.

4.3

Rectify discrepancies and errors as directed.

4.4

Process corrected and authorised invoices for payment within designated time limits.

4.5

Resolve creditor enquiries or refer to relevant personnel or section for resolution.

5

Prepare invoices for debtors.

5.1

Perform preparatory calculations to produce accurate customer invoices.

5.2

Complete relevant documentation to ensure accuracy of contents.

5.3

Distribute documents to relevant personnel or section for certification prior to being dispatched.

5.4

Dispatch verified documents within designated time limits.

5.5

Copy and file documents for auditing purposes.

This section describes the essential skills and knowledge and their level, required for this unit.

The following skills must be assessed as part of this unit:

completing tasks in a set timeframe

literacy skills in regard to interpreting documentation

numeracy skills in regard to:

processing petty cash transactions

receiving and processing deliveries

performing sales transactions

balancing cashbook entries and takings

generating invoices

interpersonal communication skills to:

refer and report irregularities, discrepancies and errors in transactions to relevant personnel

resolve creditor enquiries or refer to relevant personnel through clear and direct communication

ask questions to identify and confirm requirements

use language and concepts appropriate to cultural differences

use and interpret non-verbal communication.

The following knowledge must be assessed as part of this unit:

store policy and procedures in regard to:

register or terminal balance

security of cash and non-cash transactions

petty cash

cash balances

banking procedures

purchase requisitions or orders

issuing of receipts

delivery dockets

credit notes

statements

remittance advices

cash register rolls

deposit books

change required and denomination of change

operation of equipment used at register or terminal

processing delivery and delivery document discrepancies

invoicing procedures for debtors and creditors

payment and invoice procedures, including GST requirements

cash and non-cash handling procedures, including:

opening and closing point-of-sale terminal

clearance of terminal and transference of tender

maintenance of cash balances

counting cash

calculating non-cash documents

customer credit ratings

balancing point-of-sale terminal

recording takings

change required and denominations of change

EFTPOS

credit cards

processing of cheques

gift vouchers

lay-by

cash on delivery (COD)

lay-by

credits and returns

customer refunds.

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

consistently applies store policy and procedures in regard to petty cash and non-cash transactions, invoicing, banking processes and processing delivery and document discrepancies

consistently applies skills related to the reconciliation and payments of invoices for creditors and debtors, according to store policy and procedures.

Context of and specific resources for assessment

Assessment must ensure access to:

a real or simulated work environment

relevant documentation, such as:

store policy and procedures manuals

financial transaction dockets, slips and invoices

banking deposit forms

EFTPOS facilities and equipment

registers and related equipment

relevant financial management systems.

Methods of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

observation of performance in the workplace

a role play

third-party reports from a supervisor

answers to questions about specific skills and knowledge

review of portfolios of evidence and third-party workplace reports of on-the-job performance.

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

SIRXADM001A Apply retail office procedures

SIRXICT001A Operate retail technology.

Assessing employability skills

Employability skills are integral to effective performance in the workplace and are broadly consistent across industry sectors. How these skills are applied varies between occupations and qualifications due to the different work functions and contexts.

Employability skills embedded in this unit should be assessed holistically in the context of the job role and with other relevant units that make up the skill set or qualification.

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 in the Performance Criteria is detailed below.

Store policy and procedures in regard to:

store financial systems.

Relevant personnel may include:

manager

supervisor

team leader

specialist staff.

Non-cash transactions may include:

EFTPOS and credit cards

customer credit ratings

cheques

hire-purchase

lay-by

cash on delivery (COD)

customer refunds.

Documentation may include:

purchase requisitions

purchase orders

invoices

receipts

delivery dockets and receipts

credit notes

statements

remittance advices

cash register rolls

deposit books.

Preparatory calculations may include:

application of prior credit

discounting

quantity

calculation of GST.

Methods used to file documents may include:

manual

electronic.

Sector

Cross-Sector

Finance

The required outcomes described in this unit contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit is packaged will assist in identifying employability skills requirements.