Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
TLIP2029 Mapping and Delivery Guide
Prepare and process financial documents
Version 1.0
Issue Date: June 2024
Qualification | - |
Unit of Competency | TLIP2029 - Prepare and process financial documents |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit involves the skills and knowledge required to prepare and process financial documents in compliance with the relevant financial codes of practice and regulations.It includes recording and balancing petty cash transactions, balancing all other transactions, rectifying discrepancies as directed, preparing invoices for debtors, and preparing and processing banking documents.Work is performed under general supervision. No licensing, legislative or certification requirements apply to this unit at the time of publication. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment. As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment. Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions. Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate. Resources for assessment include: a range of relevant exercises, case studies and/or other simulations relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry applicable documentation including workplace procedures, regulations, codes of practice and operation manuals. |
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Prerequisites/co-requisites | |||
Competency Field | P - Administration and Finance |
Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Record and balance petty cash transactions | ||||||||
Element: Petty cash vouchers are prepared in accordance with workplace procedures | ||||||||
Element: Before processing, petty cash claims and vouchers are checked for accuracy and authenticity | ||||||||
Element: Petty cash transactions are recorded | ||||||||
Element: Irregularities are noted and referred to nominated person/section in accordance with workplace procedures | ||||||||
Element: Balance all transactions | ||||||||
Element: Transactions are presented to nominated person/section for checking in accordance with workplace procedures | ||||||||
Element: Invoices for payment to creditors are reconciled in accordance with workplace procedures | ||||||||
Element: Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures | ||||||||
Element: Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures | ||||||||
Element: Rectify discrepancies as directed | ||||||||
Element: Correct and authorised invoices are processed for payment and entered into financial records as required | ||||||||
Element: Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures | ||||||||
Element: Prepare invoices for debtors | ||||||||
Element: Preparatory calculations are performed to produce accurate invoices | ||||||||
Element: Relevant documentation is completed to ensure accuracy of contents | ||||||||
Element: Invoices are distributed to nominated personnel for verification prior to despatch | ||||||||
Element: Verified invoices are despatched within designated timelines | ||||||||
Element: Verified figures are entered into financial journals | ||||||||
Element: Documents are filed for auditing purposes and follow-up action is taken as required | ||||||||
Element: Prepare and process banking documents | ||||||||
Element: Financial transactions are listed on deposit forms in accordance with financial institution requirements | ||||||||
Element: Pay-in documentation is balanced with all financial calculations | ||||||||
Element: Financial institution deposit totals are balanced with internal records | ||||||||
Element: Deposits are lodged with the financial institution |