^

 
 

Unit of competency details

TLIP2032A - Maintain petty cash account (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to TLIP2032 - Maintain petty cash accountAssessment Conditions updated. 18/Oct/2015
Supersedes and is equivalent to TLIQ1107B - Maintain petty cash account06/Mar/2011

Releases:
ReleaseRelease date
1 1 (this release) 07/Mar/2011

Qualifications that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  02/Sep/2011 
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form

Modification History

Not Applicable

Unit Descriptor

Unit Descriptor 

This unit involves the skills and knowledge required to maintain petty cash account customers in accordance with workplace requirements, including preparing petty cash documentation and conducting cash transactions. Licensing, legislative, regulatory or certification requirements are applicable to this unit.

Application of the Unit

Application of the Unit 

Work must be carried out in compliance with the relevant regulations and workplace requirements concerning the maintenance of petty cash accounts.

Work is performed under some supervision generally within a team environment. It involves the application of workplace procedures and regulatory requirements to the maintenance of petty cash accounts as part of work activities in the transport, distribution and/or allied industries.

Licensing/Regulatory Information

Refer to Unit Descriptor

Pre-Requisites

Not Applicable

Employability Skills Information

Employability Skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the required performance needed to demonstrate achievement of the element. Assessment of performance is to be consistent with the evidence guide.

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Prepare petty cash documentation 

1.1 Requests for petty cash advances are validated and required vouchers are prepared

1.2 Petty cash claims are validated and attached receipts are checked

1.3 Claim documentation is prepared and checked for accuracy before processing

1.4 Claims and vouchers are presented to nominated person/section for checking and approval appropriate to workplace limits

1.5 Irregularities are noted and referred to nominated person/section for resolution

1.6 Details of claims and vouchers are recorded to enable tracing and balancing of cash holding

Conduct cash transactions 

2.1 Petty cash is provided against claims and vouchers from cash holding

2.2 Petty cash returns are secured and return receipts are provided

2.3 Petty cash returns are documented to enable tracing and balancing of cash holding

2.4 Documented transactions are reconciled against cash held

2.5 Cash is drawn using workplace procedures to maintain a balance appropriate to normal transaction levels

2.6 Cash is secured in accordance with workplace security requirements

Required Skills and Knowledge

REQUIRED KNOWLEDGE AND SKILLS 

This describes the essential knowledge and skills and their level required for this unit.

Required knowledge :

  • Codes of practice and regulations relevant to the maintenance of petty cash accounts
  • Relevant OH&S and environmental protection procedures and guidelines
  • Workplace procedures and policies for the maintenance of petty cash accounts
  • Focus of operation of work systems, equipment, management and site operating systems for the maintenance of petty cash accounts
  • Problems that may occur when maintaining petty cash accounts and appropriate action that can be taken to resolve the problems
  • Documentation requirements for the maintenance of petty cash accounts
  • Instruments of payment including letters of credit, cheques, promissory notes, bank drafts etc.

Required skills :

  • Communicate and negotiate effectively with others when maintaining petty cash accounts
  • Read and interpret instructions and procedures relevant to petty cash accounts
  • Interpret and follow operational instructions and prioritise work
  • Complete documentation related to petty cash accounts
  • Work collaboratively with others when maintaining petty cash accounts
  • Adapt appropriately to cultural differences in the workplace, including modes of behaviour and interactions with others
  • Promptly report and/or rectify any identified problems that may arise when maintaining petty cash accounts in accordance with regulatory requirements and workplace procedures
  • Monitor work activities in terms of planned schedule
  • Work systematically with required attention to detail
  • Select and use relevant computer, communication and office equipment
  • Adapt to differences in equipment in accordance with standard operating procedures

Evidence Guide

EVIDENCE GUIDE 

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required knowledge and skills, the range statement and the assessment guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

  • The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying:
  • the underpinning knowledge and skills
  • relevant legislation and workplace procedures
  • other relevant aspects of the range statement

Context of and specific resources for assessment 

  • Performance is demonstrated consistently over a period of time and in a suitable range of contexts
  • Resources for assessment include:
  • a range of relevant exercises, case studies and/or other simulated practical and knowledge assessment, and/or
  • access to an appropriate range of relevant operational situations in the workplace
  • In both real and simulated environments, access is required to:
  • relevant and appropriate materials and equipment, and
  • applicable documentation including workplace procedures, regulations, codes of practice and operation manuals

Method of assessment 

  • Assessment of this unit must be undertaken by a registered training organisation
  • As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests
  • Practical assessment must occur:
  • through activities in an appropriately simulated environment at the registered training organisation, and/or
  • in an appropriate range of situations in the workplace

Range Statement

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.

Work may be conducted:

  • in a range of work environments
  • by day or night

Customers may be:

  • internal or external

Workplaces may comprise:

  • large, medium or small worksites

Equipment may include:

  • filing and record keeping system
  • cash holding box/system
  • cash transaction record book
  • relevant computer software

Recording mechanisms/systems may be:

  • paper-based or electronic

Business source documents may include, but are not exclusive to:

  • purchase requisitions
  • invoices
  • delivery dockets
  • bank statements
  • cash register rolls
  • purchase orders
  • receipts
  • credit notes
  • remittance advice
  • deposit books

Hazards in the work area may include exposure to:

  • chemicals
  • dangerous or hazardous substances
  • movements of equipment, goods, materials and vehicular traffic

Consultative processes may involve:

  • other employees and supervisors
  • current and potential customers
  • suppliers, customers and clients
  • relevant authorities and institutions
  • management and union representatives
  • industrial relations and OH&S specialists

Communication in the work area may include:

  • phone
  • electronic data interchange (EDI)
  • fax
  • email
  • internet
  • RF systems
  • oral, aural or signed communications

Depending on the type of organisation concerned and the local terminology used, workplace procedures may include:

  • company procedures
  • enterprise procedures
  • organisational procedures
  • established procedures

Personal protective equipment may include:

  • gloves
  • safety headwear and footwear
  • safety glasses
  • high visibility clothing

Information/documents may include:

  • workplace procedures and policies concerning petty cash transactions including security procedures
  • codes of practice and regulations relevant to petty cash accounts
  • operations manuals, job specifications and induction documentation
  • manufacturers specifications for equipment
  • award, enterprise bargaining agreement, other industrial arrangements
  • relevant Australian standards and certification requirements
  • quality assurance procedures
  • emergency procedures

Applicable regulations and legislation may include:

  • relevant codes and regulations for the provision of credit services
  • privacy legislation
  • conditions of credit extension policies and related government legislation
  • audit and financial legislation
  • relevant state/territory OH&S and environmental protection legislation
  • workplace relations regulations
  • workers compensation regulations

Unit Sector(s)

Not Applicable

Competency Field

Competency Field 

P - Administration and Finance