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Evidence Guide: TLIP2029 - Prepare and process financial documents

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

 

TLIP2029 - Prepare and process financial documents

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

Record and balance petty cash transactions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Petty cash vouchers are prepared in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Before processing, petty cash claims and vouchers are checked for accuracy and authenticity

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Petty cash transactions are recorded

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Irregularities are noted and referred to nominated person/section in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Balance all transactions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Transactions are presented to nominated person/section for checking in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Invoices for payment to creditors are reconciled in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Rectify discrepancies as directed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Correct and authorised invoices are processed for payment and entered into financial records as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare invoices for debtors

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Preparatory calculations are performed to produce accurate invoices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Relevant documentation is completed to ensure accuracy of contents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Invoices are distributed to nominated personnel for verification prior to despatch

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verified invoices are despatched within designated timelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verified figures are entered into financial journals

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documents are filed for auditing purposes and follow-up action is taken as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and process banking documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Financial transactions are listed on deposit forms in accordance with financial institution requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Pay-in documentation is balanced with all financial calculations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Financial institution deposit totals are balanced with internal records

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Deposits are lodged with the financial institution

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

Record and balance petty cash transactions

1.1

Petty cash vouchers are prepared in accordance with workplace procedures

1.2

Before processing, petty cash claims and vouchers are checked for accuracy and authenticity

1.3

Petty cash transactions are recorded

1.4

Irregularities are noted and referred to nominated person/section in accordance with workplace procedures

2

Balance all transactions

2.1

Transactions are presented to nominated person/section for checking in accordance with workplace procedures

2.2

Invoices for payment to creditors are reconciled in accordance with workplace procedures

2.3

Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures

2.4

Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures

3

Rectify discrepancies as directed

3.1

Correct and authorised invoices are processed for payment and entered into financial records as required

3.2

Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures

4

Prepare invoices for debtors

4.1

Preparatory calculations are performed to produce accurate invoices

4.2

Relevant documentation is completed to ensure accuracy of contents

4.3

Invoices are distributed to nominated personnel for verification prior to despatch

4.4

Verified invoices are despatched within designated timelines

4.5

Verified figures are entered into financial journals

4.6

Documents are filed for auditing purposes and follow-up action is taken as required

5

Prepare and process banking documents

5.1

Financial transactions are listed on deposit forms in accordance with financial institution requirements

5.2

Pay-in documentation is balanced with all financial calculations

5.3

Financial institution deposit totals are balanced with internal records

5.4

Deposits are lodged with the financial institution

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

Record and balance petty cash transactions

1.1

Petty cash vouchers are prepared in accordance with workplace procedures

1.2

Before processing, petty cash claims and vouchers are checked for accuracy and authenticity

1.3

Petty cash transactions are recorded

1.4

Irregularities are noted and referred to nominated person/section in accordance with workplace procedures

2

Balance all transactions

2.1

Transactions are presented to nominated person/section for checking in accordance with workplace procedures

2.2

Invoices for payment to creditors are reconciled in accordance with workplace procedures

2.3

Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures

2.4

Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures

3

Rectify discrepancies as directed

3.1

Correct and authorised invoices are processed for payment and entered into financial records as required

3.2

Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures

4

Prepare invoices for debtors

4.1

Preparatory calculations are performed to produce accurate invoices

4.2

Relevant documentation is completed to ensure accuracy of contents

4.3

Invoices are distributed to nominated personnel for verification prior to despatch

4.4

Verified invoices are despatched within designated timelines

4.5

Verified figures are entered into financial journals

4.6

Documents are filed for auditing purposes and follow-up action is taken as required

5

Prepare and process banking documents

5.1

Financial transactions are listed on deposit forms in accordance with financial institution requirements

5.2

Pay-in documentation is balanced with all financial calculations

5.3

Financial institution deposit totals are balanced with internal records

5.4

Deposits are lodged with the financial institution

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

adapting to differences in equipment in accordance with standard operating procedures

applying relevant legislation and workplace procedures

communicating effectively with others when preparing and processing financial documents

completing documentation related to preparing, processing and recording financial transactions

implementing contingency plans interpreting and following operational instructions and prioritising work

monitoring work activities in terms of planned schedule

operating electronic communications equipment to required protocol

performing required calculations both manually and with the aid of relevant equipment and calculators

reading and interpreting instructions, procedures and information relevant to preparing and processing financial documents

reporting and/or rectifying identified problems promptly, in accordance with regulatory requirements and workplace procedures

selecting and using relevant equipment when preparing and processing financial documents, including the use of an appropriate range of office equipment, computer systems and financial software packages

working collaboratively with others when preparing and processing financial documents

working systematically with required attention to detail.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

contacts and sources of information/documentation needed for preparing and processing financial documents

customer service policies and procedures

documentation requirements of banking institutions, governments and other relevant agencies

relevant financial regulations, codes and procedures including pertinent taxation documentation requirements

scope of authority when preparing documents

typical problems that can occur when preparing and processing financial documents and appropriate action that can be taken to prevent or solve these problems

workplace procedures for preparing and processing financial documents.

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions can be found in the Companion Volume Implementation Guide.