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Evidence Guide: FNSRTS303A - Balance retail transactions

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

 

FNSRTS303A - Balance retail transactions

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

Maintain terminal balances

  1. Cash drawers or teller cash dispensers are maintained in accordance with organisation's policies and procedures
  2. Paid out cash is manually checked for accuracy and transactions at close of business are balanced in accordance with organisation policies and procedures with any discrepancies investigated and corrected in order to balance terminal
Cash drawers or teller cash dispensers are maintained in accordance with organisation's policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Paid out cash is manually checked for accuracy and transactions at close of business are balanced in accordance with organisation policies and procedures with any discrepancies investigated and corrected in order to balance terminal

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Remove receipts from terminal

  1. Terminal balances are performed in line with organisation's policies and procedures
  2. Cash is supplied to terminal or drawer according to organisation's policies and procedures and terminal information is recorded appropriately after accurate checking
  3. Security policies and procedures are followed in the removal and transportation of cash and non-cash documents
Terminal balances are performed in line with organisation's policies and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Cash is supplied to terminal or drawer according to organisation's policies and procedures and terminal information is recorded appropriately after accurate checking

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Security policies and procedures are followed in the removal and transportation of cash and non-cash documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile receipts

  1. Cash and non-cash documents are correctly counted and calculated
  2. Terminal reading and sum of cash and non-cash transactions are compared appropriately to achieve balance
  3. Records of individual takings are recorded accurately and in accordance with organisation's policies and procedures
Cash and non-cash documents are correctly counted and calculated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Terminal reading and sum of cash and non-cash transactions are compared appropriately to achieve balance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Records of individual takings are recorded accurately and in accordance with organisation's policies and procedures

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:

accurately balance daily management of cash holdings in accordance with the organisation's requirements and procedures

precisely check cash and non-cash transactions

effectively use relevant data entry, terminal and office equipment.

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 transaction 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

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

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

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

well-developed numeracy and IT skills to:

make financial transaction calculations and balance transaction systems

handle and balance cash

access and use computer-based transaction systems

problem solving skills to address balance irregularity issues

literacy skills to read documents and complete forms and transaction records accurately

organisational skills, including the ability to plan and sequence work

teamwork skills to work cooperatively with others

self-management skills for complying with organisational procedures and requirements

Required knowledge

industry codes of practice including:

Consumer Credit Code

Privacy Act

Credit Act

relevant legislation and statutory requirements

cash and non-cash security checking procedures

the operation and maintenance of equipment which may include:

security equipment

transaction terminals

numerical display boards

calculators

scanners

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.

Transactions include:

deposits of cash or cheques

transfers between accounts

withdrawals of cash.

Organisation's policies and procedures relate to:

neatness and tidiness of cash in drawer

terminal balancing and security

timeframes for:

processing transactions

periodic and end of day balances

recording of discrepancies.

Appropriate recording of information may include recording on:

duplicate or triplicate copies

permanent hard copy

proformas.

Security policies and procedures includes:

organisational policies and procedures that specifically refer to the securing and safe handling and transport of money and non-cash transactions.

Non-cash documents or transactions may include:

cheques

credit cards

EFTPOS.