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. Reconcile transaction

1.1 Identify accounts and/or data held in operations systems for reconciliation

1.2 Check that cash or security movements in one account agree with those in other accounts and/or the organisational systems

1.3 Identify any discrepancies within the transaction amounts between accounts according to organisational procedures

2. Follow up discrepancies

2.1 Follow up any discrepancies with the counterparty, correspondent or internal systems according to organisational procedures

2.2 Escalate unreconciled discrepancies to appropriate organisational personnel for review

2.3 Reconcile accounts once discrepancies have been rectified

Skill 

Performance Criteria 

Description 

Reading

1.1-1.3, 2.1

• Reads and interprets information to determine and confirm work requirements

Writing

2.1, 2.2

• Records information accurately and completes documentation appropriate to audience and purpose

Oral Communication

2.1, 2.2

• Participates in verbal exchanges using appropriate language and concepts to convey and clarify information

Numeracy

1.1-1.3, 2.2, 2.3

• Uses mathematical equations to perform calculations and identify discrepancies

Navigate the world of work

1.3, 2.1

• Accepts responsibility for ensuring the accuracy of transactions and compliance with organisational requirements

Interact with others

2.1, 2.2

• Selects and uses appropriate conventions and protocols when communicating with clients and co-workers in a range of work contexts

Get the work done

1.3, 2.1-2.3

• Plans, organises and implements tasks, aiming to achieve them efficiently and effectively
• Makes routine decisions and implements standard procedures for routine tasks, using formal decision-making processes for more complex and non-routine situations
• Uses the main features and functions of digital tools to complete work tasks and find information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSFMK401 Reconcile financial transactions

FNSFMK401A Reconcile financial transactions

Updated to meet Standards for Training Packages

Rewritten and reorganised performance criteria to clarify intent of unit

Equivalent unit

Release 

Comments 

Release 1

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