Elements and Performance Criteria
- Maintain financial journal systems
- Check source documents for accuracy and appropriate authorisation
- Refer errors and discrepancies in source documents for resolution in accordance with organisational policy and procedures
- Enter transactions into cash and credit journal system in accordance with organisational policy and procedures and relevant legislation and compliance requirements
- Total credit journals in accordance with organisational policy and procedures
- Prepare bank reconciliations
- Check cash journals against bank statements to identify differences
- Update cash journals with relevant data from bank statement/s
- Identify discrepancies and refer to appropriate staff member, organisation or agency
- Total cash journals in accordance with organisational policy and procedures
- Prepare regular reconciliation reports within designated timelines
- Maintain accounts payable and accounts receivable systems
- Enter transactions into individual accounts payable and accounts receivable in accordance with organisational policy and procedures and accounting requirements
- Prepare schedules of accounts payable and accounts receivable for reconciliation purposes and in accordance with organisational requirements
- Reconcile accounts payable and accounts receivable schedules with journal data or general ledger and in accordance with organisational requirements
- Process payments for accounts payable
- Prepare statements for accounts receivable
- Follow up outstanding accounts
- Maintain accounts receivable ledger system in accordance with organisational requirements and to reflect current credit situation
- Conduct aged-analysis of accounts receivable to identify outstanding accounts and to determine collection procedures in accordance with organisational requirements
- Report or follow up outstanding accounts in accordance with organisational policy and procedures
- Monitor and review credit terms in accordance with credit policy and procedures