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Evidence Guide: SISXFIN002 - Process financial 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

 

SISXFIN002 - Process financial transactions

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

Process customer payments.

  1. Receive, check and record cash float.
  2. Check customer payments against sale value.
  3. Provide correct change for cash payments.
  4. Process and record transactions according to organisational procedures.
  5. Prepare and issue accurate receipts including all relevant tax details.
  6. Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.
Receive, check and record cash float.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check customer payments against sale value.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide correct change for cash payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process and record transactions according to organisational procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and issue accurate receipts including all relevant tax details.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile takings.

  1. Balance customer payments at the designated time according to organisational policy.
  2. Separate cash floats from takings prior to balancing.
  3. Determine point-of-sale records of customer payments.
  4. Accurately count and calculate customer payments.
  5. Balance cash and other payments with point-of-sale records.
  6. Investigate or report discrepancies in the reconciliation.
  7. Record takings according to organisational procedures.
  8. Transport and secure cash floats, cash and other payments according to organisational security procedures.
Balance customer payments at the designated time according to organisational policy.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Separate cash floats from takings prior to balancing.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine point-of-sale records of customer payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately count and calculate customer payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Balance cash and other payments with point-of-sale records.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Investigate or report discrepancies in the reconciliation.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record takings according to organisational procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Transport and secure cash floats, cash and other payments according to organisational security procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process customer payments.

  1. Receive, check and record cash float.
  2. Check customer payments against sale value.
  3. Provide correct change for cash payments.
  4. Process and record transactions according to organisational procedures.
  5. Prepare and issue accurate receipts including all relevant tax details.
  6. Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.
Receive, check and record cash float.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check customer payments against sale value.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide correct change for cash payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process and record transactions according to organisational procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and issue accurate receipts including all relevant tax details.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reconcile takings.

  1. Balance customer payments at the designated time according to organisational policy.
  2. Separate cash floats from takings prior to balancing.
  3. Determine point-of-sale records of customer payments.
  4. Accurately count and calculate customer payments.
  5. Balance cash and other payments with point-of-sale records.
  6. Investigate or report discrepancies in the reconciliation.
  7. Record takings according to organisational procedures.
  8. Transport and secure cash floats, cash and other payments according to organisational security procedures.
Balance customer payments at the designated time according to organisational policy.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Separate cash floats from takings prior to balancing.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine point-of-sale records of customer payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately count and calculate customer payments.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Balance cash and other payments with point-of-sale records.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Investigate or report discrepancies in the reconciliation.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record takings according to organisational procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Transport and secure cash floats, cash and other payments according to organisational security procedures.

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. Process customer payments.

1.1 Receive, check and record cash float.

1.2 Check customer payments against sale value.

1.3 Provide correct change for cash payments.

1.4 Process and record transactions according to organisational procedures.

1.5 Prepare and issue accurate receipts including all relevant tax details.

1.6 Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.

2. Reconcile takings.

2.1 Balance customer payments at the designated time according to organisational policy.

2.2 Separate cash floats from takings prior to balancing.

2.3 Determine point-of-sale records of customer payments.

2.4 Accurately count and calculate customer payments.

2.5 Balance cash and other payments with point-of-sale records.

2.6 Investigate or report discrepancies in the reconciliation.

2.7 Record takings according to organisational procedures.

2.8 Transport and secure cash floats, cash and other payments according to organisational security procedures.

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. Process customer payments.

1.1 Receive, check and record cash float.

1.2 Check customer payments against sale value.

1.3 Provide correct change for cash payments.

1.4 Process and record transactions according to organisational procedures.

1.5 Prepare and issue accurate receipts including all relevant tax details.

1.6 Complete transactions using appropriate software applications in line with organisational speed and customer service requirements.

2. Reconcile takings.

2.1 Balance customer payments at the designated time according to organisational policy.

2.2 Separate cash floats from takings prior to balancing.

2.3 Determine point-of-sale records of customer payments.

2.4 Accurately count and calculate customer payments.

2.5 Balance cash and other payments with point-of-sale records.

2.6 Investigate or report discrepancies in the reconciliation.

2.7 Record takings according to organisational procedures.

2.8 Transport and secure cash floats, cash and other payments according to organisational security procedures.

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

process at least six of the following financial transactions to address different types of customer payments in line with security and other relevant procedures:

advance payments

application of Goods and Services Tax (GST)

cash

cheques

credit cards

deposits

electronic funds transfer at point-of-sale (EFTPOS)

petty cash for internal customers

refunds

vouchers

process above customer payments in a logical and fair sequence within customer time constraints so that all customers are served effectively

complete reconciliations of three different work or service periods within designated timelines.

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

organisational proceduresfor processing and recording financial transactions:

completing reconciliation records

complying with financial institution documents and procedures

designated times for completing reconciliations

handling customer claims of short change

how and where large sums of cash should be counted

maintaining low levels of cash in tills

managing petty cash

process for providing receipts and invoices to customers

process for taking cash from customers

securing credit card imprints

securing takings in the event of a hold-up

features and functions of point-of-sale equipment and software

role and importance of the reconciliation process to organisational financial management system

security procedures for transporting and securing cash floats, cash and other payments:

obtaining receipts or sign-off for takings handed over to financial personnel

separating and securing cash floats

transporting takings to back office areas and internal cashiers

transporting takings to the bank and obtaining receipts or sign-off

different products and services that attract GST

services provided by the facility and related transaction types.