Unit of competency Outline
Date retreived
22/07/2026 8:15 PM AWST
22/07/2026 8:15 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Process accounts payable and receivable
Process accounts payable and receivable
Unit of competency
National Code
BSBADM309A
BSBADM309A
State Code
C3666
C3666
TGA Status
Deleted
Deleted
DTWD Status
Deleted
Deleted
State Implementation and Classification
Approved Date
16/11/2001
Field of Education
080101 - Accounting
Original Release Date
16/11/2001
Nominal Hours
40
Description
This unit covers maintenance of accounts payable and accounts receivable records, processing of payments to creditors, and handling overdue accounts receivable.This unit covers maintenance of accounts payable and accounts receivable records, processing of payments to creditors, and handling overdue accounts receivable
Notes
Elements and Performance Criteria
1 Maintain financial journal systems
- 1.1 Source documents are checked for accuracy and authorisation.
- 1.2 Errors and discrepancies in source documents are referred for resolution in accordance with organisational policy and procedures
- 1.3 Transactions are entered into the cash and credit journal system in accordance with organisational policy and procedures and accounting requirements
- 1.4 Credit journals are totalled in accordance with organisational policy and procedures
2 Prepare bank reconciliations
- 2.1 Cash journals are checked against bank statements to identify differences
- 2.2 Cash journals are updated with relevant data from bank statement
- 2.3 Discrepancies are identified and referred to the appropriate staff member/agency
- 2.4 Cash journals are totalled in accordance with organisational policy and procedures
- 2.5 Regular reconciliation reports are prepared within designated timelines
3 Maintain accounts payable and accounts receivable systems
- 3.1 Transactions are entered into individual accounts payable and accounts receivable in accordance with organisational policy and procedures and accounting requirements
- 3.2 Schedules of accounts payable and accounts receivable are prepared for reconciliation purposes in accordance with organisational requirements
- 3.3 Schedules of accounts payable and accounts receivable are reconciled with journal data or general ledger in accordance with organisational requirements
4 Process payments for accounts payable
- 4.1 Accounts payable statements are reconciled with accounting records in accordance with organisational policy and procedures
- 4.2 Payment documentation is checked for accuracy of information and discrepancies and errors rectified in accordance with organisational requirements
5 Prepare statements for accounts receivable
- 5.1 Accounts receivable statements are produced and checked for accuracy of content in accordance with organisational policy and procedures
- 5.2 Discrepancies are rectified and statements despatched within designated timelines
6 Follow up outstanding accounts
- 6.1 Accounts receivable ledger system is maintained in accordance with organisational requirements to reflect the current credit situation
- 6.2 Aged analysis of accounts receivable is conducted to identify outstanding accounts and determine collection procedures in accordance with organisational requirements
- 6.3 Outstanding accounts are reported or followed up in accordance with organisational policy and procedures
- 6.4 Credit terms are monitored and reviewed in accordance with credit policy and procedures
Legislation, codes and national standards relevant to the workplace which may include:
Award and enterprise agreements and relevant industrial instruments
relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
relevant industry codes of practice
Source documents may include:
invoices received
tax invoices issued
credit notes received
credit notes issued
adjustment notes
cheque butts
receipts
Transactions may include:
credit purchases
credit sales
returns
day-to-day expenses
purchases paid by cheque
withdrawal of cash by owner
payments to creditors
interest charges and bank fees
capital contributions in cash by owner
payments received by debtors
cash sales
cash purchases
commission
interest revenue
Journals may include:
purchases journal
purchases returns journal
cash payments journal
sales journal
sales returns journal
cash receipts journal
Systems may include:
manual
computerised
Discrepancies may include:
bank charges
interest
dishonoured cheques
direct payments
direct deposits
Accounts payable and accounts receivable system may include:
accounts payable subsidiary ledger
accounts payable schedule
accounts receivable subsidiary ledger
accounts receivable schedule
Journal data may include:
purchases journal total
purchases returns journal total
accounts payable data from cash payments journal
sales journal total
sales returns journal total
accounts receivable data from cash receipts journal
Checking of payment documentation may include:
attachment of supporting invoices, statements
calculation of discount
cheque data
remittance advice data
Accounts receivable statements may include:
manual system
computerised system
name and address of supplier
name and address of client/accounts receivable
month to which statement is applicable
opening balance if applicable
information about any sales, sales returns, credit, forward orders and payments which have occurred throughout the month
final balance with overdue details if appropriate
any payments received allocated on an invoice by invoice basis
discount policy
Credit terms may include:
cash on delivery
cancellation of agreed credit arrangements
arrangements for settlement
Legislation, codes and national standards relevant to the workplace which may include:
Award and enterprise agreements and relevant industrial instruments
relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
relevant industry codes of practice
Source documents may include:
invoices received
tax invoices issued
credit notes received
credit notes issued
adjustment notes
cheque butts
receipts
Transactions may include:
credit purchases
credit sales
returns
day-to-day expenses
purchases paid by cheque
withdrawal of cash by owner
payments to creditors
interest charges and bank fees
capital contributions in cash by owner
payments received by debtors
cash sales
cash purchases
commission
interest revenue
Journals may include:
purchases journal
purchases returns journal
cash payments journal
sales journal
sales returns journal
cash receipts journal
Systems may include:
manual
computerised
Discrepancies may include:
bank charges
interest
dishonoured cheques
direct payments
direct deposits
Accounts payable and accounts receivable system may include:
accounts payable subsidiary ledger
accounts payable schedule
accounts receivable subsidiary ledger
accounts receivable schedule
Journal data may include:
purchases journal total
purchases returns journal total
accounts payable data from cash payments journal
sales journal total
sales returns journal total
accounts receivable data from cash receipts journal
Checking of payment documentation may include:
attachment of supporting invoices, statements
calculation of discount
cheque data
remittance advice data
Accounts receivable statements may include:
manual system
computerised system
name and address of supplier
name and address of client/accounts receivable
month to which statement is applicable
opening balance if applicable
information about any sales, sales returns, credit, forward orders and payments which have occurred throughout the month
final balance with overdue details if appropriate
any payments received allocated on an invoice by invoice basis
discount policy
Credit terms may include:
cash on delivery
cancellation of agreed credit arrangements
arrangements for settlement
Award and enterprise agreements and relevant industrial instruments
relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
relevant industry codes of practice
Source documents may include:
invoices received
tax invoices issued
credit notes received
credit notes issued
adjustment notes
cheque butts
receipts
Transactions may include:
credit purchases
credit sales
returns
day-to-day expenses
purchases paid by cheque
withdrawal of cash by owner
payments to creditors
interest charges and bank fees
capital contributions in cash by owner
payments received by debtors
cash sales
cash purchases
commission
interest revenue
Journals may include:
purchases journal
purchases returns journal
cash payments journal
sales journal
sales returns journal
cash receipts journal
Systems may include:
manual
computerised
Discrepancies may include:
bank charges
interest
dishonoured cheques
direct payments
direct deposits
Accounts payable and accounts receivable system may include:
accounts payable subsidiary ledger
accounts payable schedule
accounts receivable subsidiary ledger
accounts receivable schedule
Journal data may include:
purchases journal total
purchases returns journal total
accounts payable data from cash payments journal
sales journal total
sales returns journal total
accounts receivable data from cash receipts journal
Checking of payment documentation may include:
attachment of supporting invoices, statements
calculation of discount
cheque data
remittance advice data
Accounts receivable statements may include:
manual system
computerised system
name and address of supplier
name and address of client/accounts receivable
month to which statement is applicable
opening balance if applicable
information about any sales, sales returns, credit, forward orders and payments which have occurred throughout the month
final balance with overdue details if appropriate
any payments received allocated on an invoice by invoice basis
discount policy
Credit terms may include:
cash on delivery
cancellation of agreed credit arrangements
arrangements for settlement
Legislation, codes and national standards relevant to the workplace which may include:
Award and enterprise agreements and relevant industrial instruments
relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
relevant industry codes of practice
Source documents may include:
invoices received
tax invoices issued
credit notes received
credit notes issued
adjustment notes
cheque butts
receipts
Transactions may include:
credit purchases
credit sales
returns
day-to-day expenses
purchases paid by cheque
withdrawal of cash by owner
payments to creditors
interest charges and bank fees
capital contributions in cash by owner
payments received by debtors
cash sales
cash purchases
commission
interest revenue
Journals may include:
purchases journal
purchases returns journal
cash payments journal
sales journal
sales returns journal
cash receipts journal
Systems may include:
manual
computerised
Discrepancies may include:
bank charges
interest
dishonoured cheques
direct payments
direct deposits
Accounts payable and accounts receivable system may include:
accounts payable subsidiary ledger
accounts payable schedule
accounts receivable subsidiary ledger
accounts receivable schedule
Journal data may include:
purchases journal total
purchases returns journal total
accounts payable data from cash payments journal
sales journal total
sales returns journal total
accounts receivable data from cash receipts journal
Checking of payment documentation may include:
attachment of supporting invoices, statements
calculation of discount
cheque data
remittance advice data
Accounts receivable statements may include:
manual system
computerised system
name and address of supplier
name and address of client/accounts receivable
month to which statement is applicable
opening balance if applicable
information about any sales, sales returns, credit, forward orders and payments which have occurred throughout the month
final balance with overdue details if appropriate
any payments received allocated on an invoice by invoice basis
discount policy
Credit terms may include:
cash on delivery
cancellation of agreed credit arrangements
arrangements for settlement
Critical Aspects of Evidence
Integrated demonstration of all elements of competency and their performance criteria
Knowledge of accounting record keeping system with regard to maintenance of journals and subsidiary ledgers
Accurate entry of data into journal and subsidiary ledger system
Reconciliation of subsidiary ledger system with journal or general ledger data
Systematic tracing of errors
Underpinning Knowledge*
* At this level the learner must demonstrate understanding of specialised knowledge with depth in some areas.
Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
The organisation's accounting system and procedures
Policies and procedures across the range of tasks required
Relevant source documents and information contained within source documents
Definition of accounts payable and accounts receivable
Cross-checking techniques
Limit of scope of own responsibility
Australian Taxation Office regulations
Underpinning Skills
Literacy skills to read and understand financial procedures; select and apply the procedures and strategies needed to perform a range of tasks after reading appropriate texts; follow sequenced written instructions
Numeracy skills to use knowledge of mathematical concepts; interpret, compare and calculate with whole numbers and money; decimal fractions and percentages in some unfamiliar contexts
Problem solving skills to use approximation to check for discrepancies
Communication skills follow oral instructions; questioning to clarify information
Proofreading skills to check calculations
Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace which may include:
workplace reference materials such procedural manuals and company policy
cash journals
credit journals
accounts payable and accounts receivable subsidiary ledgers
calculator
computer equipment and relevant software
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context/s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting, analysing and organising information - to post entries to journals and ledgers
Communicating ideas and information - through debtor and creditor statements
Planning and organising activities - to process payments and receipts
Working with teams and others - to refer discrepancies outside scope of authority
Using mathematical ideas and techniques - to check calculations and work with money, decimals and percentages
Solving problems - to follow up outstanding accounts
Using technology - to operate computerised financial record keeping system if required
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
Critical Aspects of Evidence
Integrated demonstration of all elements of competency and their performance criteria
Knowledge of accounting record keeping system with regard to maintenance of journals and subsidiary ledgers
Accurate entry of data into journal and subsidiary ledger system
Reconciliation of subsidiary ledger system with journal or general ledger data
Systematic tracing of errors
Underpinning Knowledge*
* At this level the learner must demonstrate understanding of specialised knowledge with depth in some areas.
Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
The organisation's accounting system and procedures
Policies and procedures across the range of tasks required
Relevant source documents and information contained within source documents
Definition of accounts payable and accounts receivable
Cross-checking techniques
Limit of scope of own responsibility
Australian Taxation Office regulations
Underpinning Skills
Literacy skills to read and understand financial procedures; select and apply the procedures and strategies needed to perform a range of tasks after reading appropriate texts; follow sequenced written instructions
Numeracy skills to use knowledge of mathematical concepts; interpret, compare and calculate with whole numbers and money; decimal fractions and percentages in some unfamiliar contexts
Problem solving skills to use approximation to check for discrepancies
Communication skills follow oral instructions; questioning to clarify information
Proofreading skills to check calculations
Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace which may include:
workplace reference materials such procedural manuals and company policy
cash journals
credit journals
accounts payable and accounts receivable subsidiary ledgers
calculator
computer equipment and relevant software
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context/s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting, analysing and organising information - to post entries to journals and ledgers
Communicating ideas and information - through debtor and creditor statements
Planning and organising activities - to process payments and receipts
Working with teams and others - to refer discrepancies outside scope of authority
Using mathematical ideas and techniques - to check calculations and work with money, decimals and percentages
Solving problems - to follow up outstanding accounts
Using technology - to operate computerised financial record keeping system if required
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
Integrated demonstration of all elements of competency and their performance criteria
Knowledge of accounting record keeping system with regard to maintenance of journals and subsidiary ledgers
Accurate entry of data into journal and subsidiary ledger system
Reconciliation of subsidiary ledger system with journal or general ledger data
Systematic tracing of errors
Underpinning Knowledge*
* At this level the learner must demonstrate understanding of specialised knowledge with depth in some areas.
Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
The organisation's accounting system and procedures
Policies and procedures across the range of tasks required
Relevant source documents and information contained within source documents
Definition of accounts payable and accounts receivable
Cross-checking techniques
Limit of scope of own responsibility
Australian Taxation Office regulations
Underpinning Skills
Literacy skills to read and understand financial procedures; select and apply the procedures and strategies needed to perform a range of tasks after reading appropriate texts; follow sequenced written instructions
Numeracy skills to use knowledge of mathematical concepts; interpret, compare and calculate with whole numbers and money; decimal fractions and percentages in some unfamiliar contexts
Problem solving skills to use approximation to check for discrepancies
Communication skills follow oral instructions; questioning to clarify information
Proofreading skills to check calculations
Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace which may include:
workplace reference materials such procedural manuals and company policy
cash journals
credit journals
accounts payable and accounts receivable subsidiary ledgers
calculator
computer equipment and relevant software
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context/s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting, analysing and organising information - to post entries to journals and ledgers
Communicating ideas and information - through debtor and creditor statements
Planning and organising activities - to process payments and receipts
Working with teams and others - to refer discrepancies outside scope of authority
Using mathematical ideas and techniques - to check calculations and work with money, decimals and percentages
Solving problems - to follow up outstanding accounts
Using technology - to operate computerised financial record keeping system if required
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
Critical Aspects of Evidence
Integrated demonstration of all elements of competency and their performance criteria
Knowledge of accounting record keeping system with regard to maintenance of journals and subsidiary ledgers
Accurate entry of data into journal and subsidiary ledger system
Reconciliation of subsidiary ledger system with journal or general ledger data
Systematic tracing of errors
Underpinning Knowledge*
* At this level the learner must demonstrate understanding of specialised knowledge with depth in some areas.
Relevant legislation from all levels of government that affects business operation, especially in regard to Occupational Health and Safety and environmental issues, equal opportunity, industrial relations and anti-discrimination
The organisation's accounting system and procedures
Policies and procedures across the range of tasks required
Relevant source documents and information contained within source documents
Definition of accounts payable and accounts receivable
Cross-checking techniques
Limit of scope of own responsibility
Australian Taxation Office regulations
Underpinning Skills
Literacy skills to read and understand financial procedures; select and apply the procedures and strategies needed to perform a range of tasks after reading appropriate texts; follow sequenced written instructions
Numeracy skills to use knowledge of mathematical concepts; interpret, compare and calculate with whole numbers and money; decimal fractions and percentages in some unfamiliar contexts
Problem solving skills to use approximation to check for discrepancies
Communication skills follow oral instructions; questioning to clarify information
Proofreading skills to check calculations
Ability to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
Resource Implications
The learner and trainer should have access to appropriate documentation and resources normally used in the workplace which may include:
workplace reference materials such procedural manuals and company policy
cash journals
credit journals
accounts payable and accounts receivable subsidiary ledgers
calculator
computer equipment and relevant software
Consistency of Performance
In order to achieve consistency of performance, evidence should be collected over a set period of time which is sufficient to include dealings with an appropriate range and variety of situations
Context/s of Assessment
Competency is demonstrated by performance of all stated criteria, including paying particular attention to the critical aspects and the knowledge and skills elaborated in the Evidence Guide, and within the scope as defined by the Range Statement
Assessment must take account of the endorsed assessment guidelines in the Business Services Training Package
Assessment of performance requirements in this unit should be undertaken in an actual workplace or simulated environment
Assessment should reinforce the integration of the key competencies and the business services common competencies for the particular AQF level. Refer to the Key Competency Levels at the end of this unit
Key Competency Levels
Collecting, analysing and organising information - to post entries to journals and ledgers
Communicating ideas and information - through debtor and creditor statements
Planning and organising activities - to process payments and receipts
Working with teams and others - to refer discrepancies outside scope of authority
Using mathematical ideas and techniques - to check calculations and work with money, decimals and percentages
Solving problems - to follow up outstanding accounts
Using technology - to operate computerised financial record keeping system if required
Please refer to the Assessment Guidelines for advice on how to use the Key Competencies
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| D0703 | BSBFIA303A | Process accounts payable and receivable | Unit of competency |