Release 

Comments 

Release 1

This version first released with BSB Business 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 Process journal entries

1.1 Prepare general journal entries from source journals in accordance with accounting requirements, organisational policy, procedures and legislative accounting standards

1.2 Post journal entries into general ledger system in accordance with organisational policy, procedures and accounting standards

1.3 Reconcile accounts payable and accounts receivable subsidiary ledger systems with general ledger

1.4 Ensure processing maintains the accounting equation and is completed within designated timelines

2 Prepare a trial balance

2.1 Prepare trial balance of general ledger system in accordance with organisational requirements and accounting standards, and ensure it is checked for accuracy

2.2 Identify and rectify irregularities or refer them for resolution when trial balance does not balance, in accordance with organisational policy and procedures

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.3, 2.1, 2.2

• Interprets a range of textual information to determine all job requirements

Writing

1.1-1.3, 2.1, 2.2

• Integrates data from different sources and records numerical information in a suitable format for context and purpose of material
• Uses factual and suitable financial language to refer issues and inconsistencies in data

Oral Communication

2.2

• Explains issues clearly using industry-specific and factual vocabulary

Numeracy

1.1-1.3, 2.1, 2.2

• Uses a limited range of mathematical calculations to reconcile amounts and arrange/compare numerical information

Navigate the world of work

1.1, 1.2, 2.1, 2.2

• Recognises, understands and applies applicable industry standards and organisational policies and procedures in the conduct of own work

Interact with others

2.2

• Recognises the strengths and expertise of others and seeks their assistance as required

Get the work done

1.1-1.4, 2.1, 2.2

• Plans and completes tasks according to set guidelines and timelines
• Recognises and addresses problems in the context of own work and seeks advice from others, as necessary
• Uses digital technologies to access, record, store, organise and compile data as required

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBFIA304 Maintain a general ledger

BSBFIA304A Maintain a general ledger

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with Business Services Training Package Version 1.0.