Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required when processing payment facilities.
It applies to individuals who may work under supervision but have responsibility in ensuring the prompt and accurate processing of customer requests.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Account management
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Enter data to system |
1.1 Enter data into systems without error and within time requirements in accordance with organisational policy and procedures 1.2 Allocate data to correct systems and accounts, and update related systems 1.3 Maintain system controls to ensure integrity and security of customer and payee database |
2. Create payment facility |
2.1 Process payment facility accurately in accordance with organisational policy and procedures 2.2 Maintain documentation in secure manner to protect privacy and interests of all parties |
3. Verify payments against documentation |
3.1 Confirm payment authorisation, with information on payment facility matching approved documentation 3.2 Identify discrepancies and follow up promptly |
4. Effect payments |
4.1 Make payments within agreed credit arrangements in accordance with organisational policy and procedures, and industry and legislative requirements 4.2 Ensure payment instruments are signed in accordance with relevant authority levels, and related systems updated promptly to ensure that integrity of accounting systems is maintained 4.3 Cancel or note primary documentation associated with payment to ensure multiple payments are not made |
5. File documentation |
5.1 File documentation promptly in accordance with organisational policy and procedures 5.2 File documentation in location that is accessible and easily traceable |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
2.1, 3.1, 3.2, 4.2 |
|
Writing |
1.1, 1.2, 3.2, 4.2 |
|
Oral Communication |
3.2, 4.2 |
|
Numeracy |
1.1, 3.2 |
|
Navigate the world of work |
1.1, 1.3, 2.1, 2.2, 4.1, 4.2, 5.1 |
|
Get the work done |
1.1-1.3, 2.1, 2.2, 3.1, 3.2, 4.1-4.3, 5.1, 5.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSACM303 Process payment documentation |
FNSACM303A Process payment documentation |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe