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Evidence Guide: FNSACM303A - Process payment documentation

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSACM303A - Process payment documentation

What evidence can you provide to prove your understanding of each of the following citeria?

Enter data to system

  1. Data is entered into systems without error and within time requirements as specified in relevant organisation policy and procedures
  2. Data is allocated to correct systems and accounts and related systems are updated
  3. System controls are maintained to ensure the integrity and security of client and payee database
Data is entered into systems without error and within time requirements as specified in relevant organisation policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Data is allocated to correct systems and accounts and related systems are updated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

System controls are maintained to ensure the integrity and security of client and payee database

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Create payment facility

  1. Payment facility is processed accurately in accordance with organisation policy and procedures
  2. Documentation is maintained in a secure manner to protect the privacy and interests of all parties
Payment facility is processed accurately in accordance with organisation policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documentation is maintained in a secure manner to protect the privacy and interests of all parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify payments against documentation

  1. Authorisation for payment is confirmed with information on payment facility matching approved documentation
  2. Discrepancies are identified and followed up promptly
Authorisation for payment is confirmed with information on payment facility matching approved documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discrepancies are identified and followed up promptly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Effect payments

  1. Payments are made within agreed credit arrangements in accordance with organisation policy and procedures and industry and legislative requirements
  2. Payment instruments are signed in accordance with relevant authority levels and related systems updated promptly to ensure that the integrity of accounting systems are maintained
  3. Primary documentation associated with payment is cancelled or noted to ensure multiple payments are not made
Payments are made within agreed credit arrangements in accordance with organisation policy and procedures and industry and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Payment instruments are signed in accordance with relevant authority levels and related systems updated promptly to ensure that the integrity of accounting systems are maintained

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Primary documentation associated with payment is cancelled or noted to ensure multiple payments are not made

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File documentation

  1. Documentation is filed promptly in accordance with organisation policy and procedures
  2. Location of filed documentation is easily accessible and traceable
Documentation is filed promptly in accordance with organisation policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Location of filed documentation is easily accessible and traceable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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:

interpret and apply organisation, industry and legislative requirements for processing payment documentation

accurately enter data in organisation systems

create payment facilities and verify payments against documentation.

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 an integrated financial software system and data

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

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

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

share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy skills to make financial calculations

information technology skills for accessing and using accounting systems, spreadsheets, databases and internet information

evaluation skills to determine payment status and any discrepancies

literacy skills for data analysis and entry

organisational skills, including the ability to plan and sequence work

Required knowledge

awareness of relevant acts and regulations

industry codes of practice

organisation policy and procedures

relevant legal systems and procedures impacting on payment systems

Range Statement

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.

Organisation policy and procedures may include:

computer system documentation

internal control guidelines

operations manuals.

Related systems may include:

assets system

claims

commissions and fees

holding/suspense accounts

receivables

reinsurance

tax related.

Systems controls:

protect against the corruption of payee:

name

address

bank account details.

Payment facility documentation may include:

authorisation slips

batch records

cheque cancellations

confirmation of receipt

delivery dockets

invoices

payment requests

periodic approvals

signature verifications

stop payments.

Industry and legislative requirements may cover:

Anti-Money Laundering and Counter Terrorism Financing Acts

Consumer Credit Protection (Fees) Act

industry codes of practice

occupational health and safety (OHS) acts and guidelines

Privacy Act

relevant Insurance Act

Stamp Duties Act

Taxation Act.