Unit of competency details

SIRXFIN201 - Balance and secure point-of-sale terminal (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 13/Jun/2012

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by SIRRRTF001 - Balance and secure point-of-sale terminal• Not Equivalent • Competency Field changed to Retail Financials (RTF) • Unit Sector change to Retail • Minor change to Elements and Performance Criteria to streamline language and better define essential outcomes and performance • Updated knowledge requirements to reflect unit revisions. 30/Mar/2016
Supersedes and is equivalent to SIRXFIN001A - Balance point-of-sale terminal 12/Jun/2012

Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SIS10 - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 2.0-3.1 
SIR07 - Retail Services Training PackageRetail Services Training Package 3.0-3.3 
SFL - Floristry Training PackageFloristry Training Package 1.0 
SFI11 - Seafood Industry Training PackageSeafood Industry Training Package 1.1-2.2 
MTM11 - Australian Meat Industry Training PackageAustralian Meat Industry Training Package 3.0-4.0 
FWP - Forest and Wood Products Training PackageForest and Wood Products Training Package 2.0 
FPI11 - Forest and Forest Products Training PackageForest and Forest Products Training Package 1.1-2.3 
FDF10 - Food ProcessingFood Processing 4.0-4.1 
AUR12 - Automotive Industry Retail, Service and Repair Training PackageAutomotive Industry Retail, Service and Repair Training Package 1.0-2.1 
AMP - Australian Meat Processing Training PackageAustralian Meat Processing Training Package 1.0 
AHC10 - Agriculture, Horticulture and Conservation and Land ManagementAgriculture, Horticulture and Conservation and Land Management 4.0-8.0 
ACM10 - Animal Care and ManagementAnimal Care and Management 3.0 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
SIS20313 - Certificate II in Sport and RecreationCertificate II in Sport and Recreation 
SIS20312 - Certificate II in Sport and RecreationCertificate II in Sport and Recreation 
SIR30312 - Certificate III in Retail SupervisionCertificate III in Retail Supervision 1-2 
SIR30212 - Certificate III in Retail OperationsCertificate III in Retail Operations 1-2 
SIR30112 - Certificate III in Community PharmacyCertificate III in Community Pharmacy 1-2 
SIR20312 - Certificate II in Retail Fast FoodCertificate II in Retail Fast Food 1-2 
SIR20212 - Certificate II in Retail ServicesCertificate II in Retail Services 1-2 
SIR20112 - Certificate II in Community PharmacyCertificate II in Community Pharmacy 1-2 
SFL40115 - Certificate IV in FloristryCertificate IV in Floristry 
SFL30115 - Certificate III in FloristryCertificate III in Floristry 
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  02/Oct/2012 
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Modification History

The version details of this endorsed unit are in the table below. The latest information is at the top.

Release  

Comments 

First Release

This is a revised unit, based on and equivalent to SIRXFIN001A Balance point-of-sale terminal.

Unit Descriptor

This unit describes the performance outcomes, skills and knowledge required to balance and reconcile a register or terminal in a retail environment. It involves clearing the register, counting money, calculating non-cash transactions, and reconciling and recording takings.

The unit requires the application of store policy and procedures in undertaking those tasks.

Application of the Unit

This unit applies to frontline retail staff working under some supervision.

Licensing/Regulatory Information

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

Pre-Requisites

Nil

Employability Skills Information

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements and Performance Criteria

Element 

Performance Criteria 

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

1. Balance and secure takings from register or terminal.

1.1.Perform register or terminal  balance at designated times according to store policy and procedures .

1.2.Separate cash float from takings prior to balancing procedure and secure according to store policy.

1.3.Supply change to register or terminal according to store policy.

1.4.Obtain and interpret register or terminal reading or print-out.

1.5.Secure cash and non cash documents  according to store security policy and procedures.

2. Reconcile takings.

2.1.Count cash accurately.

2.2.Calculate non cash documents accurately.

2.3.Determine balance between register or terminal reading and sum of cash and non cash transactions.

2.4.Report discrepancies between register or terminal reading and sum of cash and non cash transactions to relevant personnel  according to store policy.

2.5.Record store and individual department takings and file records  according to store policy.

Required Skills and Knowledge

This section describes the skills and knowledge required for this unit.

Required skills 

  • literacy and numeracy skills to:
  • balance the register or terminal
  • count cash
  • calculate non-cash transactions
  • calculate discrepancies between reported and actual takings
  • complete documentation
  • interpret documentation
  • report on takings
  • planning and organising skills to complete tasks in a set timeframe
  • technology skills to operate register or terminal

Required knowledge 

  • cash and non-cash handling procedures, including:
  • balancing point-of-sale terminal
  • calculating non-cash documents
  • change required and denominations of change
  • clearance of terminal and transference of tender
  • counting cash
  • credit and returns
  • credit cards
  • EFTPOS
  • gift vouchers
  • lay-by
  • maintenance of cash float
  • opening and closing point-of-sale terminal
  • recording takings
  • security of cash and non-cash transactions
  • store policy and procedures in regard to:
  • cash float
  • operation of equipment used at register or terminal
  • register or terminal balance
  • security of cash and non-cash transactions

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.

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

Evidence of the following is essential:

  • operates register or terminal equipment according to manufacturer instructions and store policy
  • applies store policy and procedures in regard to handling cash and removing takings from register or terminal
  • applies store policy and procedures in regard to cash float
  • applies store policy and procedures in regard to reading registers and recording information
  • processes documentation and records responsibly and according to store policy and procedures
  • reconciles takings according to store policy and procedures.

Context of and specific resources for assessment 

Assessment must ensure access to:

  • a real or simulated retail work environment
  • relevant documentation, such as:
  • financial transaction dockets, slips and invoices
  • sample debit card and credit card vouchers
  • recording and tally sheets
  • store policy and procedure manuals in regard to register or terminal balance
  • register or terminal and related equipment.

Method of assessment 

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

  • observation of performance in the workplace
  • role play
  • written or verbal questioning to assess knowledge and understanding
  • review of portfolios of evidence and third-party workplace reports of on-the-job performance.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

  • SIRXCCS201 Apply point-of-sale handling procedures
  • SIRXRSK201 Minimise loss.

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 individual, accessibility of the item, and local industry and regional contexts) may also be included.

Register or terminal  may be:

  • cleared at intervals during or at close of trading
  • cleared by operator or specialist staff
  • electronic
  • manual.

Store policy and procedures  in regard to:

  • cash handling
  • register or terminal balance
  • security.

Non-cash documents  may relate to:

  • cash on delivery (COD)
  • cheques
  • credit cards
  • customer credit ratings
  • customer refunds
  • gift vouchers
  • hire-purchase
  • lay-by.

Relevant personnel  may include:

  • manager
  • supervisor
  • team leader.

Records  may be:

  • electronic
  • manual.

Unit Sector(s)

Cross-Sector

Competency Field

Finance

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