FNSACM301
Administer financial accounts


Application

This unit describes the skills and knowledge required to correctly allocate payments, reconcile accounts and maintain customer details.

It applies to individuals who may work as part of a finance or accounting team in organisations.

No licensing, legislative or certification requirements apply to this unit at the time of publication.


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Allocate customer payments

1.1 Allocate payments correctly to appropriate customer accounts and bank receipts according to organisational policy and procedures

1.2 Serve customers promptly and complete and process documentation quickly and accurately to maximise customer satisfaction

2. Reconcile accounts

2.1 Respond to customer billing or account queries and apply billing adjustments accurately, if required

2.2 Respond to customer complaints promptly in accordance with organisational policy

3. Maintain customer details

3.1 Maintain accurate and up-to-date details on customer account files

3.2 Check sources of customer details for reliability and verify where necessary

Evidence of Performance

Evidence of the ability to:

validate account details and verify customer information

allocate and reconcile customer payments accurately following organisational procedures

serve customers promptly and efficiently, including handling complaints and responding to billing and account queries

maintain accurate customer details

accurately use data entry and recording systems.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.


Evidence of Knowledge

To complete the unit requirements safely and effectively, the individual must:

outline basic financial transaction processes and procedures

identify the relevant organisational policy and procedures on account management

identify key legislative requirements covered in organisational policy and procedures relating to administering financial accounts

describe how to handle customer queries and complaints following organisational procedures

identify workplace health and safety (WHS) requirements relating to data entry and administrative work undertaken.


Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the account management field of work and include access to and use of:

common office equipment, technology, software and consumables

an integrated financial software system and data.

Assessors must satisfy NVR/AQTF assessor requirements.


Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance

Skill

Performance Criteria

Description

Reading

1.1, 2.1, 2.2, 3.1, 3.2

Interprets and analyses textual information to gather detailed information and confirm requirements

Writing

1.1, 1.2, 2.1, 2.2, 3.1

Records key information relevant to requirements using basic punctuation, text and correct spelling

Oral Communication

1.2, 2.1, 2.2, 3.2

Uses listening and questioning techniques to confirm understanding of requirements

Uses clear, specific and culturally sensitive language to convey information

Numeracy

1.1, 2.1, 3.1

Accesses and checks numerical information embedded in a range of texts

Navigate the world of work

1.1, 2.2

Recognises and follows organisational protocols, policy and procedures relevant to own role

Interact with others

1.2, 2.2, 3.2

Follows accepted communication practices and protocols, adjusting personal communication style in response to the values, beliefs and cultural expectations of different customers

Get the work done

1.1, 1.2, 2.1, 2.2, 3.1, 3.2

Plans, organises and implements tasks according to organisational requirements

Uses the main features and functions of digital tools to complete work tasks


Sectors

Account management