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Evidence Guide: FNSACM302A - Prepare, match and process receipts

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSACM302A - Prepare, match and process receipts

What evidence can you provide to prove your understanding of each of the following citeria?

Receive, identify and record receipts

  1. Established procedures are followed and receipts are checked for accuracy against remittance documents
  2. All receipts are recorded with remittance types accurately identified to ensure correct allocation in accordance with organisation policy and procedures
  3. Batching is completed in accordance with organisation systems and operating procedures and relevant departments advised of total daily receipts
Established procedures are followed and receipts are checked for accuracy against remittance documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All receipts are recorded with remittance types accurately identified to ensure correct allocation in accordance with organisation policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Batching is completed in accordance with organisation systems and operating procedures and relevant departments advised of total daily receipts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Match receipts to documentation

  1. Receipts are checked and matched to documentation accurately and promptly and documentation security maintained to protect interests of all parties to transaction
  2. Unmatched receipts are noted for follow-up or referral in accordance with organisation, industry and legislative requirements
Receipts are checked and matched to documentation accurately and promptly and documentation security maintained to protect interests of all parties to transaction

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Unmatched receipts are noted for follow-up or referral in accordance with organisation, industry and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enter data to systems

  1. All receipts are accurately allocated to appropriate chart of account areas and data entered onto receipt systems without error and within time requirements specified in relevant organisation policy and procedures
  2. All receipts are accurately matched to system debit with any data and allocation discrepancies identified promptly to enable early follow-up
  3. Advice on source and solution to discrepancies is sought, where necessary, to solve outstanding problems
  4. Related systems are updated, reconciliations completed and discrepancies between general ledger and sub-systems resolved
All receipts are accurately allocated to appropriate chart of account areas and data entered onto receipt systems without error and within time requirements specified in relevant organisation policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

All receipts are accurately matched to system debit with any data and allocation discrepancies identified promptly to enable early follow-up

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advice on source and solution to discrepancies is sought, where necessary, to solve outstanding problems

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Related systems are updated, reconciliations completed and discrepancies between general ledger and sub-systems resolved

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File documentation

  1. Documentation is filed promptly in accordance with organisation policy and procedures
  2. Location of filed documentation is accessible and easily traceable when required
Documentation is filed promptly in accordance with organisation policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Location of filed documentation is accessible and easily traceable when required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range Statement and the Assessment Guidelines for the Training Package.

Overview of assessment

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

Evidence of the ability to:

interpret and apply organisation policies and procedures for preparing, matching and processing receipts

comply with legislative requirements for processing receipts

accurately match receipts to relevant documentation

enter data into organisation systems and correctly file documentation.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to an integrated financial software system and data

Method of assessment

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

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

determine and confirm work requirements and interact with customers, using questioning and active listening as required

share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy skills to make financial calculations

information technology skills for accessing and using accounting systems, spreadsheets, databases and internet information

evaluation skills to determine payment status and any discrepancies

literacy skills for data analysis and entry

organisational skills, including the ability to plan and sequence work

Required knowledge

industry codes of practice

awareness of relevant acts and regulations

relevant legal systems and procedures impacting on payment systems

organisation policy and procedures

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, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Receipts may include:

bankers orders

cash

cash journal entry

cheques

credit cards:

direct

mail

telephone

direct debits

direct drawing

payroll deduction

postal money order.

Organisation policy and procedures may include:

computer systems documentation

internal control guidelines

operations manuals.

Industry and legislative requirements may cover:

Cash Transaction Act

consumer credit legislation

industry codes of practice

occupational health and safety (OHS) acts and guidelines

Privacy Act

relevant Insurance Act

Stamp Duties Act

Taxation Act.

Receipt systems may include:

assets

cash receipts debiting

commissions

investment

loans

receipting system may take account of optimising legislative requirements including Financial Institutions Duty (FID).

Systems may be:

computer based

manual.

Data and allocation discrepancies may include:

incorrect account allocation

keystroke error.