Modification History
The version details of this endorsed unit of competency set are in the table below. The latest information is at the top.
Version |
Comments |
1.0 |
E Replaces and is equivalent to SITXFIN001A Process financial transactions. |
Unit Descriptor
This unit describes the performance outcomes, skills and knowledge required to accept and process cash and other payments for products and services and to reconcile takings at the end of the service period or day.
Application of the Unit
This unit applies to all tourism, travel, hospitality and event sectors.
This unit mainly applies to frontline sales and operations personnel who operate with some level of independence and under limited supervision. It does, however, describe a fundamental operational function and those people who work with very little independence under close supervision would also use this skill.
Licensing/Regulatory Information
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Pre-Requisites
Not applicable.
Employability Skills Information
This unit contains employability skills.
Elements and Performance Criteria Pre-Content
Elements and 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. Process customer payments. |
1.1 Receive, check and record cash float. 1.2 Check customer payments against sale value. 1.3 Provide correct change for cash payments. 1.4 Process and record transactions according to organisational procedures . 1.5 Prepare and issue accurate receipts including all relevant tax details. 1.6 Complete transactions using appropriate software applications. 1.7 Complete transactions within organisation speed and customer service requirements. |
2. Reconcile takings. |
2.1 Balance customer payments at the designated time according to organisational policy. 2.2 Separate cash floats from takings prior to balancing. 2.3 Determine point-of-sale records of customer payments. 2.4 Accurately count and calculate customer payments. 2.5 Balance cash and other payments with point-of-sale records. 2.6 Investigate or report discrepancies in the reconciliation. 2.7 Record takings according to organisational procedures. 2.8 Transport and secure cash floats, cash and other payments according to organisational security procedures . |
Required Skills and Knowledge
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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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. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure use of:
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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:
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Guidance information for assessment |
The assessor should design integrated assessment activities to holistically assess this unit with other units relevant to the industry sector, workplace and job role, for example:
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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. |
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Transactions may include: |
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Organisational procedures for processing and recording financial transactions may involve: |
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Security procedures may relate to: |
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Unit Sector(s)
Cross-Sector
Competency Field
Finance