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TLIQ707C

Prepare and process financial documents

Unit Descriptor This unit involves the skills and knowledge required to prepare and process financial documents, including recording and balancing petty cash transactions, balancing all other transactions, rectifying discrepancies as directed, preparing invoices for debtors, and preparing and process banking documents.

ELEMENTPERFORMANCE CRITERIA
1 . 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

2 . 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

3 . 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

4 . 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

5 . 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





Key CompetencyExamples of ApplicationPerformance
Level
How can information be collected, analysed and organised?
How are ideas and information communicated within this competency?
How are activities planned and organised?
How are problem solving skills applied?
How are mathematical ideas and techniques used?
How is use of technology applied?
How is team work used within this competency?

Range Statement

Work may be conducted in:

Customers may be:

Requirements for work may include:

Processing of financial documents may include:

Lodgement of transactions with financial institutions may include:

Preparation of documentation is undertaken:

Business source documents may include:

Communications systems may involve:

Consultative processes may involve:

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

Documentation/records may include:

Applicable regulations and legislation may include:


Evidence Guide

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

Context of, and specific resources for assessment

Method of assessment