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Evidence Guide: FNSCRD405 - Manage overdue customer accounts

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

 

FNSCRD405 - Manage overdue customer accounts

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

Identify customers requiring collection activity

  1. Monitor organisational reporting system regularly for possible overdue accounts
  2. Access relevant customer information and retrieve records
  3. Review overdue accounts and customer credit histories in accordance with organisational policy and procedures, and relevant legislation
Monitor organisational reporting system regularly for possible overdue accounts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access relevant customer information and retrieve records

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review overdue accounts and customer credit histories in accordance with organisational policy and procedures, and relevant legislation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish contact with customers and attempt to resolve outstanding payment matters

  1. Determine proposed communication with customers to collect outstanding payments
  2. Obtain approval to initiate communication with customers from authorised personnel in the organisation and inform other relevant external parties
  3. Establish rapport with customers and ensure all communication complies with relevant legislation and organisational policy and procedures
  4. Advise purpose of contact clearly and comprehensively to customers in accordance with legislative requirements
Determine proposed communication with customers to collect outstanding payments

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain approval to initiate communication with customers from authorised personnel in the organisation and inform other relevant external parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish rapport with customers and ensure all communication complies with relevant legislation and organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise purpose of contact clearly and comprehensively to customers in accordance with legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate resolution of outstanding payments

  1. Advise customers of possibility of legal action and any other implications if outstanding payments are not resolved
  2. Use appropriate techniques to achieve resolution and record negotiation outcomes accurately
  3. Schedule further action to be undertaken in relation to outstanding payment matters
Advise customers of possibility of legal action and any other implications if outstanding payments are not resolved

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use appropriate techniques to achieve resolution and record negotiation outcomes accurately

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Schedule further action to be undertaken in relation to outstanding payment matters

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor agreements to ensure adherence

  1. Review accounts regularly to ensure that payments are received in accordance with negotiated arrangements
  2. Address breaches of agreements in accordance with organisational policy and procedures, and legislative requirements
  3. Refer outstanding payment matters to appropriate personnel as required
Review accounts regularly to ensure that payments are received in accordance with negotiated arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Address breaches of agreements in accordance with organisational policy and procedures, and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer outstanding payment matters to appropriate personnel as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Identify customers requiring collection activity

1.1 Monitor organisational reporting system regularly for possible overdue accounts

1.2 Access relevant customer information and retrieve records

1.3 Review overdue accounts and customer credit histories in accordance with organisational policy and procedures, and relevant legislation

2. Establish contact with customers and attempt to resolve outstanding payment matters

2.1 Determine proposed communication with customers to collect outstanding payments

2.2 Obtain approval to initiate communication with customers from authorised personnel in the organisation and inform other relevant external parties

2.3 Establish rapport with customers and ensure all communication complies with relevant legislation and organisational policy and procedures

2.4 Advise purpose of contact clearly and comprehensively to customers in accordance with legislative requirements

3. Negotiate resolution of outstanding payments

3.1 Advise customers of possibility of legal action and any other implications if outstanding payments are not resolved

3.2 Use appropriate techniques to achieve resolution and record negotiation outcomes accurately

3.3 Schedule further action to be undertaken in relation to outstanding payment matters

4. Monitor agreements to ensure adherence

4.1 Review accounts regularly to ensure that payments are received in accordance with negotiated arrangements

4.2 Address breaches of agreements in accordance with organisational policy and procedures, and legislative requirements

4.3 Refer outstanding payment matters to appropriate personnel as required

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Identify customers requiring collection activity

1.1 Monitor organisational reporting system regularly for possible overdue accounts

1.2 Access relevant customer information and retrieve records

1.3 Review overdue accounts and customer credit histories in accordance with organisational policy and procedures, and relevant legislation

2. Establish contact with customers and attempt to resolve outstanding payment matters

2.1 Determine proposed communication with customers to collect outstanding payments

2.2 Obtain approval to initiate communication with customers from authorised personnel in the organisation and inform other relevant external parties

2.3 Establish rapport with customers and ensure all communication complies with relevant legislation and organisational policy and procedures

2.4 Advise purpose of contact clearly and comprehensively to customers in accordance with legislative requirements

3. Negotiate resolution of outstanding payments

3.1 Advise customers of possibility of legal action and any other implications if outstanding payments are not resolved

3.2 Use appropriate techniques to achieve resolution and record negotiation outcomes accurately

3.3 Schedule further action to be undertaken in relation to outstanding payment matters

4. Monitor agreements to ensure adherence

4.1 Review accounts regularly to ensure that payments are received in accordance with negotiated arrangements

4.2 Address breaches of agreements in accordance with organisational policy and procedures, and legislative requirements

4.3 Refer outstanding payment matters to appropriate personnel as required

Evidence of the ability to:

follow organisational procedures and policy for identifying overdue accounts and collecting outstanding payments

communicate effectively with customers, explaining the implications of overdue accounts and alternative payment arrangement options following organisational guidelines and legislative requirements

apply effective negotiation skills to resolve customer outstanding payment matters

use the data entry and reporting system correctly to identify and monitor overdue accounts.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

identify and explain organisational policy changes that reflect current developments in the credit management sector

explain the key steps or actions in legal debt recovery processes

explain relevant legislative requirements of overdue account review and management

outline a range of negotiation techniques that can be used in managing overdue customer accounts.