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Elements and Performance Criteria

  1. Enter payment summaries into journals.
  2. Reconcile accounts to balance.
  3. Prepare bank reconciliations.
  4. Receive and document payments and takings.
  5. Dispatch statements to debtors and follow up outstanding accounts.
  6. Dispatch payments to creditors.
  7. Generate financial documents.

Required Skills

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

Required skills

literacy skills to

interpret documentation

write reports

numeracy skills to

reconcile accounts

count cash

calculate noncash transactions

calculate noncash transactions

report on takings

interpersonal skills to

verify cheque and credit card payments with relevant personnel or department prior to acceptance

clarify purpose of report with relevant personnel

identify and obtain relevant data through clear and direct communication

ask questions to identify and confirm requirements

use language and concepts appropriate to cultural differences

use and interpret nonverbal communication

Required knowledge

store policy and procedures in regard to

register or terminal balance

cash and noncash transactions security

cash and noncash transactions security

cash balances

banking procedures

purchase requisitions and orders

issuing of receipts

delivery dockets

credit notes


remittance advices

cash register rolls

deposit books

change required and denomination of change

operation of equipment used at register or terminal

processing delivery document discrepancies

invoicing procedures for debtors and creditors

payment and invoice procedures including GST requirements

relevant legislation and statutory requirements

cash and noncash handling procedures including

cash and noncash handling procedures, including:

balancing pointofsale terminal

balancing pointofsale terminal

recording takings

security of cash and noncash transactions

security of cash and noncash transactions

change required and denominations of change


credit cards

gift vouchers


credits and returns

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge the range statement and the Assessment Guidelines for this TrainingPackage

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

Evidence of the following is essential

consistently applies store policy and procedures when producing financial reports

consistently applies store policy and procedures in regard to handling cash

consistently applies store policy and procedures in regard to the accurate and effective recording of data for reporting and processing document discrepancies and the reconciliation of reports for preparation of trial balances

consistently applies store policy and procedures in regard to receiving recording and dispatching to debtors and creditors

applies followup procedures for outstanding accounts

Context of and specific resources for assessment

Assessment must ensure access to

a retail work environment

relevant documentation such as

financial transaction dockets slips and invoices

recording and tally sheets

store policy and procedures manuals

recording documenting and filing systems

registers and related equipment including EFTPOS facilities and equipment

Methods of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

observation of performance in the workplace

thirdparty reports from a supervisor

customer feedback

answers to questions about specific skills and knowledge

review of portfolios of evidence and thirdparty workplace reports of onthejob performance

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended

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 in the performance criteria is detailed below.

Transactions may include:



credit card


store card

internet payments


gift vouchers


Nominated system may include:



reporting systems


Relevant personnel may include:


team leader


Store policy and procedures in regard to:

financial systems

cash handling

reconciling accounts.

Records may be:



Sources may include:

staff members

formal or informal reports

written or verbal data

formal or informal meetings

quantitative and qualitative data.