Unit of competency Outline

Date retreived
22/07/2026 8:09 AM AWST

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Prepare and process financial documents

Prepare and process financial documents

Unit of competency
National Code
TLIP2029
State Code
AVI18
TGA Status
Current
DTWD Status
Approved
Current Release Number
2.00
Current Release Date
22/11/2021
View on TGA
State Implementation and Classification
Approved Date
23/02/2016
Field of Education
080101 - Accounting
Original Release Date
23/02/2016
Nominal Hours
30
Description
This unit involves the skills and knowledge required to prepare and process financial documents.It includes recording and balancing petty cash transactions, balancing all other transactions, rectifying discrepancies as directed, preparing invoices for debtors, and preparing and processing banking documents in compliance with the relevant financial codes of practice and regulations.Work is performed under general supervision.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Record and balance petty cash transactions
  • 1.1 Petty cash vouchers are prepared in accordance with workplace procedures
  • 1.2 Before processing, petty cash claims and vouchers are checked for accuracy and authenticity
  • 1.3 Petty cash transactions are recorded
  • 1.4 Irregularities are noted and referred to nominated person/section in accordance with workplace procedures
2 Balance all transactions
  • 2.1 Transactions are presented to nominated person/section for checking in accordance with workplace procedures
  • 2.2 Invoices for payment to creditors are reconciled in accordance with workplace procedures
  • 2.3 Discrepancies between invoices and delivery notes/service agreements are identified and reported for resolution in accordance with workplace procedures
  • 2.4 Errors in invoice charges are identified and corrective action is undertaken within scope of authority in accordance with workplace procedures
3 Rectify discrepancies as directed
  • 3.1 Correct and authorised invoices are processed for payment and entered into financial records as required
  • 3.2 Creditor inquiries are resolved within scope of authority or referred to appropriate personnel in accordance with workplace procedures
4 Prepare invoices for debtors
  • 4.1 Preparatory calculations are performed to produce accurate invoices
  • 4.2 Relevant documentation is completed to ensure accuracy of contents
  • 4.3 Invoices are distributed to nominated personnel for verification prior to despatch
  • 4.4 Verified invoices are despatched within designated timelines
  • 4.5 Verified figures are entered into financial journals
  • 4.6 Documents are filed for auditing purposes and follow-up action is taken, as required
5 Prepare and process banking documents
  • 5.1 Financial transactions are listed on deposit forms in accordance with financial institution requirements
  • 5.2 Pay-in documentation is balanced with all financial calculations
  • 5.3 Financial institution deposit totals are balanced with internal records
  • 5.4 Deposits are lodged with the financial institution
No information
No information
Replaces
State Code National Code Title Type
D5283 TLIP2029A Prepare and process financial documents Unit of competency