Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

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

Skill 

Performance Criteria 

Description 

Reading

1.1-1.3, 2.1, 3.1, 3.2

• Interprets and analyses information from a range of sources to confirm accuracy, identify key elements and determine required actions

Writing

1.3, 2.1, 2.2

• Uses clear and specialised language to accurately document requirements and outcomes

Oral Communication

1.1-1.3, 3.1, 3.2

• Uses active listening, questioning and summarising skills to effectively identify and confirm requirements

Numeracy

1.2, 2.1, 3.3

• Performs mathematical calculations and comparisons to check accuracy and completeness, and reconcile numerical and financial data
• Uses numerically based coding system

Navigate the world of work

1.1, 2.2, 3.1-3.3

• Recognises and follows organisational protocols, policy and procedures, and industry and legislative requirements, relevant to own role

Get the work done

1.1-1.3, 2.1, 2.2, 3.1-3.3

• Plans, organises and implements tasks according to organisational requirements
• Follows structured processes to make required decisions to determine payment status and handle discrepancies
• Uses the main features and functions of digital tools to complete work tasks

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSACM401 Evaluate and authorise payment requests

FNSACM401A Evaluate and authorise payment requests

Updated to meet Standards for Training Packages

Minor rewording to clarify intent of performance criteria

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.