This unit describes the performance outcomes, skills and knowledge required to accept and process cash and other payments for products and services, and reconcile takings at the end of the service period or day.

The unit applies to all tourism, travel, hospitality and event sectors.

This unit mainly applies to frontline sales and operations personnel who operate with some level of independence and under limited supervision. It does, however, describe a fundamental operational function and those people who work with very little independence under close supervision would also use this skill.

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

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

process at least six different financial transactions using at least three different types of financial transactions listed in the knowledge evidence to address different types of customer payments

process each of the above financial transactions:

in line with security and other relevant procedures

in a logical sequence

within customer time constraints

so that all customers are served effectively

complete reconciliations of three different work or service periods within designated timelines.

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

types of financial transactions that commonly take place in tourism, travel, hospitality and event organisations:

advance payments

application of goods and services tax (GST)

payments:

cash

cheque

credit card

electronic funds transfer at point of sale (EFTPOS)

deposits

foreign currency

petty cash disbursements

refunds

traveller’s cheques

vouchers

procedures for processing and recording different types of transactions:

completing reconciliation records

complying with financial institution documents and procedures

designated times for completing reconciliations

handling customer claims of short change

how and where large sums of cash should be counted

maintaining low levels of cash in tills

managing petty cash

process for providing receipts and invoices to customers

process for taking cash from customers

securing credit card imprints

securing takings in the event of a hold-up

features and functions of point-of-sale software

role and importance of the reconciliation process to organisational financial management system

security procedures for transporting and securing cash floats, cash and other payments:

obtaining receipts or sign-off for takings handed over to financial personnel

separating and securing cash floats

transporting takings to back office areas and internal cashiers

transporting takings to the bank and obtaining receipts or sign-off

different products and services that attract GST.

Skills must be demonstrated in an operational tourism, travel, hospitality or events environment where financial transactions are processed. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

point-of-sale equipment and software currently used to process and reconcile financial transactions

current commercial procedures and documentation for the processing of financial transactions

cash and other forms of payments

customers from whom the individual can take payments and with whom they can interact; these can be:

customers in an industry workplace who are assisted by the individual during the assessment process; or

individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment operated within a training organisation.

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

Cross-Sector

Finance