TLIP2029 Prepare and process financial documents

Release: 1

TLIP2029 Prepare and process financial documents

Modification History

Release 1. This is the first release of this unit of competency in the TLI Transport and Logistics Training Package.

Application

This unit involves the skills and knowledge required to prepare and process financial documents in compliance with the relevant financial codes of practice and regulations.

It includes recording and balancing petty cash transactions, balancing all other transactions, rectifying discrepancies as directed, preparing invoices for debtors, and preparing and processing banking documents.

Work is performed under general supervision.

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

Pre-requisite Unit

Not applicable.

Competency Field

P  Administration and Finance

Unit Sector

Not applicable.

Elements and Performance Criteria

ELEMENTS	PERFORMANCE CRITERIA
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1	Record and balance petty cash transactions	1.1	Petty cash vouchers are prepared in accordance with workplace procedures
1.2	Before processing, petty cash claims and vouchers are checked for accuracy and authenticity
1.3	Petty cash transactions are recorded
1.4	Irregularities are noted and referred to nominated person/section in accordance with workplace procedures
2	Balance all transactions	2.1	Transactions are presented to nominated person/section for checking in accordance with workplace procedures
2.2	Invoices for payment to creditors are reconciled in accordance with workplace procedures
2.3	Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures
2.4	Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures
3	Rectify discrepancies as directed	3.1	Correct and authorised invoices are processed for payment and entered into financial records as required
3.2	Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures
4	Prepare invoices for debtors	4.1	Preparatory calculations are performed to produce accurate invoices
4.2	Relevant documentation is completed to ensure accuracy of contents
4.3	Invoices are distributed to nominated personnel for verification prior to despatch
4.4	Verified invoices are despatched within designated timelines
4.5	Verified figures are entered into financial journals
4.6	Documents are filed for auditing purposes and follow-up action is taken as required
5	Prepare and process banking documents	5.1	Financial transactions are listed on deposit forms in accordance with financial institution requirements
5.2	Pay-in documentation is balanced with all financial calculations
5.3	Financial institution deposit totals are balanced with internal records
5.4	Deposits are lodged with the financial institution

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions can be found in the Companion Volume Implementation Guide.

Unit Mapping Information

This unit replaces and is equivalent to TLIP2029A Prepare and process financial documents.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=df441c6e-213d-43e3-874c-0b3f7036d851