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Evidence Guide: FNSICACC303B - Prepare, match and process receipts

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

 

FNSICACC303B - Prepare, match and process receipts

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

Receive, identify and record receipt

  1. Established procedures are followed
  2. All receipts are checked for accuracy against remittance document
  3. All receipts are accurately recorded in accordance with company procedures
  4. Remittance types are accurately identified to ensure correct allocation
  5. Batching is completed in accordance with company systems and operating procedures
  6. Relevant departments are advised of total daily receipts according to company operating procedures
Established procedures are followed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All receipts are checked for accuracy against remittance document

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All receipts are accurately recorded in accordance with company procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Remittance types are accurately identified to ensure correct allocation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Batching is completed in accordance with company systems and operating procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Relevant departments are advised of total daily receipts according to company operating procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Match receipts to documentation

  1. Receipts are checked and matched to documentation accurately and promptly in accordance with company procedures
  2. Security of documentation is maintained to protect interests of all parties to transaction
  3. Unmatched receipts are noted for follow-up and/or referral in accordance with company, industry and legislative requirements
Receipts are checked and matched to documentation accurately and promptly in accordance with company procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Security of documentation is maintained to protect interests of all parties to transaction

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Unmatched receipts are noted for follow-up and/or referral in accordance with company, industry and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enter data to systems

  1. All receipts are accurately allocated to appropriate chart of account areas
  2. Data is entered to systems without error and within time requirements, as specified in relevant company policy and procedures
  3. All receipts are accurately matched to system debit
  4. Data and allocation discrepancies are identified promptly to enable early follow-up
  5. Advice on source and solution to discrepancies is sought, where necessary, to solve outstanding problems
  6. Related systems are updated
  7. Reconciliations are completed and discrepancies between general ledger and sub systems are resolved
All receipts are accurately allocated to appropriate chart of account areas

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Data is entered to systems without error and within time requirements, as specified in relevant company policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All receipts are accurately matched to system debit

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Data and allocation discrepancies are identified promptly to enable early follow-up

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advice on source and solution to discrepancies is sought, where necessary, to solve outstanding problems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Related systems are updated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconciliations are completed and discrepancies between general ledger and sub systems are resolved

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File documentation

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Location of filed documentation is traceable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.

Overview of assessment requirements

To achieve competency in this unit, a person must be able to demonstrate:

knowledge of company organisational policies and procedures for preparing, matching and processing receipts

knowledge of industry and legislative requirements for processing receipts

ability to receive, identify and record receipts

ability to match receipts to relevant documentation

ability to enter data into organisational systems

ability to file documentation

Critical aspects of evidence

Evidence required for demonstration of consistent performance:

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery/relationship to other units:

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.

Evidence is most relevant when provided through an integrated activity, which combines the elements of competency for the unit, or a cluster of units of competency.

Assessment requirements

Method of assessment:

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.

Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.

Resources required for assessment:

Unless otherwise specified, there are no significant resource implications for assessment of this unit, apart from access to a relevant workplace or closely simulated office environment and the use of a range of office equipment, technology and consumables. These may include standard commercial computer hardware, software, telephones, facsimiles, and other relevant office equipment.

Required Skills and Knowledge

REQUIRED KNOWLEDGE&SKILLS

Knowledge requirements include:

company policy and procedures

knowledge or awareness of relevant acts and regulations

legal systems and procedures

industry codes of practice

computer systems

procedure writing

Skills requirements include:

computerised spreadsheet and database

data analysis and interpretation

evaluative and general analytical skills

negotiation and interpersonal skills

Range Statement

The Range Statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.

The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.

Receipts may include:

cheques

cash

bankers orders

postal money order

cash journal entry

direct debits

credit cards (direct, mail and telephone)

direct drawing

payroll deduction

Receipt system may include:

investment

loans

cash receipts debiting

assets

commissions

receipting system may take account of optimising legislative requirements including Financial Institutions Duty (FID)

Industry and legislative requirements may cover:

Australian Accounting Standards

relevant Insurance Act

Consumer Credit legislation

Privacy Act

Taxation Act

Cash Transaction Act

industry codes of practice

Australian Securities and Investments Commission (ASIC) code

Trade Practices Act

Stamp Duties Act

occupational health and safety (OH&S) acts and guidelines

Systems may be:

manual

computer based

Data and allocation discrepancies may include:

key stroke error

incorrect account allocation

Company policy and procedures may include:

operations manuals

internal control guidelines

computer systems documentation