FNSACM401 Evaluate and authorise payment requests

Release: 1

FNSACM401 Evaluate and authorise payment requests

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 to verify the validity and accuracy of payment requests, prepare payment documentation and authorise payments.

It applies to individuals who may work under limited supervision and hold responsibility in ensuring that controls are adhered to when processing financial transactions.

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. 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

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	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

Unit Mapping Information

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

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe