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Evidence Guide: TLIQ707C - 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

 

TLIQ707C - 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

  1. Petty cash vouchers are prepared in accordance with workplace procedures
  2. Petty cash claims and vouchers are checked for accuracy and authenticity before processing
  3. Petty cash transactions are recorded
  4. Irregularities are noted and referred to nominated person/section in accordance with workplace procedures
Petty cash vouchers are prepared in accordance with workplace procedures

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Petty cash claims and vouchers are checked for accuracy and authenticity before processing

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

  1. Transactions are presented to nominated person/section for checking in accordance with workplace procedures
  2. Invoices for payment to creditors are reconciled in accordance with workplace procedures
  3. Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures
  4. Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures
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

  1. Correct and authorised invoices are processed for payment and, where required, entered into financial records
  2. Creditor enquiries are resolved within scope of authority or referred to other personnel in accordance with workplace procedures
Correct and authorised invoices are processed for payment and, where required, entered into financial records

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare invoices for debtors

  1. Preparatory calculations are performed to produce accurate invoices
  2. Relevant documentation is completed to ensure accuracy of contents
  3. Invoices are distributed to nominated personnel for verification prior to despatch
  4. Verified invoices are despatched within designated timelines
  5. Verified figures are entered into financial journals
  6. Documents are filed for auditing purposes and, if required, follow-up action
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, if required, follow-up action

Completed
Date:

Teacher:
Evidence:

 

 

 

 

 

 

 

Prepare and process banking documents

  1. Financial transactions are listed on deposit forms in accordance with financial institution's requirements
  2. Pay-in documentation is balanced with all financial calculations
  3. Financial institution deposit totals are balanced with internal records
  4. Deposits are lodged with the financial institution
Financial transactions are listed on deposit forms in accordance with financial institution's 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

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required knowledge and skills, the range statement and the assessment guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying:

the underpinning knowledge and skills

relevant legislation and workplace procedures

other relevant aspects of the range statement

Context of and specific resources for assessment

Performance is demonstrated consistently over a period of time and in a suitable range of contexts

Resources for assessment include:

a range of relevant exercises, case studies and other simulated practical and knowledge assessment, and/or

access to an appropriate range of relevant operational situations in the workplace

In both real and simulated environments, access is required to:

relevant and appropriate materials and/or equipment, and/or

applicable documentation including workplace procedures, regulations, codes of practice and operation manuals

Method of assessment

Assessment of this unit must be undertaken by a registered training organisation

As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests

Practical assessment must occur:

through appropriately simulated activities at the registered training organisation, and/or

in an appropriate range of situations in the workplace

Required Skills and Knowledge

REQUIRED KNOWLEDGE AND SKILLS

This describes the essential knowledge and skills and their level required for this unit.

Required knowledge:

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

Relevant OH&S and environmental procedures and regulations

Workplace procedures for the preparing and processing of financial documents

Contacts and sources of information/documentation needed for the preparation and processing of financial documents

Customer service policies and procedures

Documentation requirements of banking institutions, governments and other relevant agencies

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

Required skills:

Communicate effectively with others when preparing and processing financial documents

Read and interpret instructions, procedure and information relevant to the preparation and processing of financial documents

Interpret and follow operational instructions and prioritise work

Complete documentation related to the preparation and processing of financial documents

Operate electronic communication equipment to required protocol

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

Work collaboratively with others when preparing and processing financial documents

Adapt appropriately to cultural differences in the workplace, including modes of behaviour and interactions with others

Promptly report and/or rectify any identified problems that may arise when preparing and processing financial documents in accordance with regulatory requirements and workplace procedures

Implement contingency plans for unanticipated situations that may occur when preparing and processing financial documents

Monitor work activities in terms of planned schedule

Modify activities depending on differing operational contingencies, risk situations and environments

Work systematically with required attention to detail

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

Adapt to differences in equipment in accordance with standard operating procedures

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.

Work may be conducted in:

a range of organisations in the transport, warehousing, distribution and/or storage industries and may be conducted by day or night

Customers may be:

internal or external

Requirements for work may include:

site restrictions and procedures

use of safety and personal protective equipment

specified loading operations

communications equipment

hours of operation

authorities and permits

financial regulations and processes

privacy and security procedures

Processing of financial documents may include:

recording and balancing petty cash transactions

balancing all transactions

rectifying discrepancies as directed

preparing invoices for debtors

preparing and processing banking documents

Lodgement of transactions with financial institutions may include:

electronic banking

manual processes including the use of third parties

Preparation of documentation is undertaken:

within scope of authority

Business source documents may include:

electronic banking

requisitions

orders

service statements

invoices and receipts

despatch and receival notes

credit notes

statements

sales tax statements

consignment notes

Communications systems may involve:

telephone

fax

email

electronic data transfer of information (EDI)

mail

Consultative processes may involve:

other employees and supervisors

suppliers, potential customers and existing clients

relevant authorities

banking institutions

other agencies

management and union representatives

OH&S specialists

other maintenance, professional or technical staff

Depending on the type of organisation concerned and the local terminology used, workplace procedures may include:

company procedures

workplace procedures

organisational procedures

established procedures

Documentation/records may include:

operations manuals, job specifications and procedures and induction documentation

guidelines concerning relevant financial regulations, codes and procedures including relevant taxation requirements

competency standards and training materials

manufacturers/client specifications, instructions and labelling advice including material safety data sheets

workplace operating procedures and policies

supplier and/or client instructions

Australian and international standards, criteria and certification requirements

communications technology equipment, oral, aural or signed communications

OH&S procedures

quality assurance procedures

security procedures

Applicable regulations and legislation may include:

relevant financial regulations, codes and procedures including relevant taxation requirements

Australian and international standards and certification requirements

relevant state/territory OH&S legislation

relevant state/territory environmental protection legislation

international transport regulations, codes and procedures