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Evidence Guide: FNSACM401 - Evaluate and authorise payment requests

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

 

FNSACM401 - Evaluate and authorise payment requests

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

Verify validity and accuracy of payment request

  1. Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements
  2. Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay
  3. Obtain confirmation of goods or services supply where required to validate request for payment
Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain confirmation of goods or services supply where required to validate request for payment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare payment documentation

  1. Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts
  2. Complete documentation in accordance with organisational policy and procedures
Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete documentation in accordance with organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Authorise payment

  1. Check all payments are authorised accurately and according to organisational policy and procedures
  2. Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures
  3. Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements
Check all payments are authorised accurately and according to organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Verify validity and accuracy of payment request

1.1 Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements

1.2 Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay

1.3 Obtain confirmation of goods or services supply where required to validate request for payment

2. Prepare payment documentation

2.1 Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts

2.2 Complete documentation in accordance with organisational policy and procedures

3. Authorise payment

3.1 Check all payments are authorised accurately and according to organisational policy and procedures

3.2 Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures

3.3 Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Verify validity and accuracy of payment request

1.1 Match payment requests with order or other supporting information to ensure validity of payment and comply with internal control requirements

1.2 Check supporting documentation to ensure it is correct and complete, confirm authorisation of request and follow up any discrepancies without delay

1.3 Obtain confirmation of goods or services supply where required to validate request for payment

2. Prepare payment documentation

2.1 Match payments with invoice or other relevant documentation, and code and allocate payments to correct accounts

2.2 Complete documentation in accordance with organisational policy and procedures

3. Authorise payment

3.1 Check all payments are authorised accurately and according to organisational policy and procedures

3.2 Ensure funds are not released prior to authorisation of payment in accordance with organisational procedures

3.3 Confirm authorisation of payment from delegated authority following relevant organisational policy and procedures, and industry and legislative requirements

Evidence of the ability to:

verify and validate the accuracy of payment requests and accurately prepare payment documentation

check and authorise payment requests following organisational policy and procedures, and legislative requirements

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

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

identify the key requirements of legislation and industry codes of practice relevant to payment systems

describe organisational procedures for evaluating and authorising payment requests

describe the types of payment requests and associated documentation handled by the organisation

describe how payments are coded and allocated in the organisational system.