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Evidence Guide: SIRWFIN001 - Complete debtor processes

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

 

SIRWFIN001 - Complete debtor processes

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

Confirm trading terms and process payments.

  1. Source and confirm trading terms for purchasers of products or services based on organisational or other records.
  2. Review trading history of purchaser of products or services.
  3. Process routine direct purchases payments according to organisational procedures.
  4. Inform customers of payment requirements using clear and direct communication and verify authority to purchase.
Source and confirm trading terms for purchasers of products or services based on organisational or other records.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review trading history of purchaser of products or services.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process routine direct purchases payments according to organisational procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Inform customers of payment requirements using clear and direct communication and verify authority to purchase.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish customer debt and credit levels.

  1. Determine individual and business customer credit levels, or refer to relevant personnel.
  2. Identify individual and business customer bad debts using business technology or records.
  3. Confirm credit level of customers purchasing specific products or services.
  4. Maintain updated credit status of account customers in organisational database.
  5. Determine acceptable debt levels for individual and business customers and report variances to relevant personnel.
Determine individual and business customer credit levels, or refer to relevant personnel.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify individual and business customer bad debts using business technology or records.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm credit level of customers purchasing specific products or services.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain updated credit status of account customers in organisational database.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine acceptable debt levels for individual and business customers and report variances to relevant personnel.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement debt recovery processes.

  1. Confirm debt payment terms for businesses purchasing products or services.
  2. Confirm payment terms for individual debtors.
  3. Confirm debt repayments procedures.
  4. Process debtors, including debt recovery processes, within set timeframes.
Confirm debt payment terms for businesses purchasing products or services.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm payment terms for individual debtors.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm debt repayments procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process debtors, including debt recovery processes, within set timeframes.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Confirm trading terms and process payments.

1.1.Source and confirm trading terms for purchasers of products or services based on organisational or other records.

1.2.Review trading history of purchaser of products or services.

1.3.Process routine direct purchases payments according to organisational procedures.

1.4.Inform customers of payment requirements using clear and direct communication and verify authority to purchase.

2. Establish customer debt and credit levels.

2.1.Determine individual and business customer credit levels, or refer to relevant personnel.

2.2.Identify individual and business customer bad debts using business technology or records.

2.3.Confirm credit level of customers purchasing specific products or services.

2.4.Maintain updated credit status of account customers in organisational database.

2.5.Determine acceptable debt levels for individual and business customers and report variances to relevant personnel.

3. Implement debt recovery processes.

3.1.Confirm debt payment terms for businesses purchasing products or services.

3.2.Confirm payment terms for individual debtors.

3.3.Confirm debt repayments procedures.

3.4.Process debtors, including debt recovery processes, within set timeframes.

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Confirm trading terms and process payments.

1.1.Source and confirm trading terms for purchasers of products or services based on organisational or other records.

1.2.Review trading history of purchaser of products or services.

1.3.Process routine direct purchases payments according to organisational procedures.

1.4.Inform customers of payment requirements using clear and direct communication and verify authority to purchase.

2. Establish customer debt and credit levels.

2.1.Determine individual and business customer credit levels, or refer to relevant personnel.

2.2.Identify individual and business customer bad debts using business technology or records.

2.3.Confirm credit level of customers purchasing specific products or services.

2.4.Maintain updated credit status of account customers in organisational database.

2.5.Determine acceptable debt levels for individual and business customers and report variances to relevant personnel.

3. Implement debt recovery processes.

3.1.Confirm debt payment terms for businesses purchasing products or services.

3.2.Confirm payment terms for individual debtors.

3.3.Confirm debt repayments procedures.

3.4.Process debtors, including debt recovery processes, within set timeframes.

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

use business technology and systems to:

check and confirm current credit level and trading terms and complete routine debt recovery processing for four different customers

process customer payments in three different forms

follow correct procedure for reporting breaches of customer credit limits and trading terms for three different situations

provide clear and accurate payment information to four different customers.

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

organisational policies and procedures for:

debtor processes:

use and storage of customer account information

establishing customer needs and trading terms

identifying credit levels, trading terms and payment status

checking debit history for a customer

administering and processing debtor accounts

different forms of payment

processing and debt recovery

identifying bad debts

confirming debt payment terms and procedures

debt recovery and financial governance

use of technology:

privacy, confidentiality and security provisions affecting data storage, communication of information and access to technology

internal communication:

management structure and communication relationships

approval processes

referring enquiries to more senior colleagues

external communication:

standards for customer interaction

key aspects of legislation that impact routine debt collection tasks, including:

application of Goods and Services Tax (GST)

Australian Competition and Consumer Commission (ACCC) provisions

Australian Consumer Law

privacy legislation

interpersonal communication techniques:

active listening and questioning

communication methods which convey information clearly and concisely.