Unit of competency Outline
Date retreived
22/07/2026 6:25 PM AWST
22/07/2026 6:25 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.
Set up and operate a computerised accounting system
Set up and operate a computerised accounting system
Unit of competency
National Code
FNSACC406A
FNSACC406A
State Code
D4038
D4038
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
13/02/2012
Field of Education
080905 - Practical Computing Skills
Original Release Date
13/02/2012
Nominal Hours
70
Description
This unit describes the performance outcomes, skills and knowledge required to modify and operate an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions within the system, maintaining the system, producing reports and ensuring system integrity.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Implement an integrated accounting system
- 1.1. The general ledger, chart of accounts and subsidiary accounts are implemented in accordance with organisational requirements, procedures and policies
- 1.2. Customers, suppliers and inventory items are set up in the system to meet organisational requirements and the reporting requirements of Goods and Services Tax (GST)
- 1.3. Appropriate technical help is used to solve any operational problems
2. Process transactions within the system
- 2.1. Input data is collated, coded and classified before processing
- 2.2. A wide range of cash and credit transactions are processed in both a service and trading environment
- 2.3. The general journal is used to make any balance day adjustments for prepayments and accruals
- 2.4. System output are regularly reviewed to verify the accuracy of data input and adjustments made for any detected processing errors
- 2.5. An end of financial year rollover is performed
3. Maintain the system
- 3.1. Any new general ledger accounts, customer, supplier, inventory and fixed asset records are added as required
- 3.2. An existing chart of accounts, customer, supplier, inventory and fixed asset records and subsidiary accounts are maintained and updated
- 3.3. The chart of accounts is customised to meet the reporting requirements of the organisation
4. Produce reports
- 4.1. Reports to indicate the financial performance and financial position of the organisation and for GST purposes are generated as required or requested
- 4.2. Reports to ensure that subsidiary ledgers and accounts reconcile with the general ledger are generated
- 4.3. Reports, which ensure that the bank account reconciles with the bank statement, over at least two reporting periods are generated
5. Ensure system integrity
- 5.1. Regular back-ups of the system are made to ensure against loss or corruption of data
- 5.2. Data are restored from back-ups in the event of loss or corruption of current data
- 5.3. A secure record of all processed transactions is maintained for audit purposes
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. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Chart of accounts may include:
classified expenses by type
current assets
current liabilities
equity
income
non-current assets
non-current liabilities.
Organisational requirements, procedures and policies may include:
Australian Accounting Standards
corporate governance
correctly identifying and opening files within an organisational permit
electronic and paper-based recording
log on and system security procedures
organisational health and safety (OHS) policies, procedures and programs
storing data to security requirements and for appropriate future access.
Appropriate technical help may include:
computer help desk personnel
designated technology assistance staff
external staff employed or recommended by the software supplier to assist with difficulties
managers and supervisors
on-screen help
online help
software manuals.
Transactions may include:
adjustment notes
bad debts
bank reconciliation
cash sales and deposits
cheque payments
commencing business entry
commission
contra entries
credit card payments
customer payments
discounts
financial
sales
funds transfers
inventory stock take
loans
petty cash
purchase and sale of stock
purchase invoices
purchase orders
sales invoices
supplier payments
withdrawal of stock and assets by owner.
Balance day adjustments may include:
accrued expenses
depreciation
doubtful debts
prepaid expenses
revenue received in advance.
Reports may include:
aged payables and reconciliation
aged receivables and reconciliation
asset listing
auditable transaction trail
balance sheet
bank reconciliation
business activity statement
customer statements
inventory listing
profit and loss.
Subsidiary ledgers may include:
accounts payable
accounts receivable
fixed assets
inventory.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Chart of accounts may include:
classified expenses by type
current assets
current liabilities
equity
income
non-current assets
non-current liabilities.
Organisational requirements, procedures and policies may include:
Australian Accounting Standards
corporate governance
correctly identifying and opening files within an organisational permit
electronic and paper-based recording
log on and system security procedures
organisational health and safety (OHS) policies, procedures and programs
storing data to security requirements and for appropriate future access.
Appropriate technical help may include:
computer help desk personnel
designated technology assistance staff
external staff employed or recommended by the software supplier to assist with difficulties
managers and supervisors
on-screen help
online help
software manuals.
Transactions may include:
adjustment notes
bad debts
bank reconciliation
cash sales and deposits
cheque payments
commencing business entry
commission
contra entries
credit card payments
customer payments
discounts
financial
sales
funds transfers
inventory stock take
loans
petty cash
purchase and sale of stock
purchase invoices
purchase orders
sales invoices
supplier payments
withdrawal of stock and assets by owner.
Balance day adjustments may include:
accrued expenses
depreciation
doubtful debts
prepaid expenses
revenue received in advance.
Reports may include:
aged payables and reconciliation
aged receivables and reconciliation
asset listing
auditable transaction trail
balance sheet
bank reconciliation
business activity statement
customer statements
inventory listing
profit and loss.
Subsidiary ledgers may include:
accounts payable
accounts receivable
fixed assets
inventory.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
set up an organisation's chart of accounts by modifying an established integrated financial software system
interpret and apply organisational policies and procedures
implement an integrated accounting system ensuring integrity of the data
process transactions within the integrated system and generate reports
maintain the integrated system.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables.
access to an integrated financial software system and associated data
access to the internet.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing projects using specialised software
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
set up an organisation's chart of accounts by modifying an established integrated financial software system
interpret and apply organisational policies and procedures
implement an integrated accounting system ensuring integrity of the data
process transactions within the integrated system and generate reports
maintain the integrated system.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables.
access to an integrated financial software system and associated data
access to the internet.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
verbal or written questioning on underpinning knowledge and skills
setting and reviewing projects using specialised software
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9600 | FNSACCT407B | Set up and operate a computerised accounting system | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUQ06 | FNSACC406 | Set up and operate a computerised accounting system | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S705 | FNS40610 | Certificate IV in Accounting | Qualification |
| D707 | FNS40611 | Certificate IV in Accounting | Qualification |
| D706 | FNS40211 | Certificate IV in Bookkeeping | Qualification |
| J451 | SIT50212 | Diploma of Events | Qualification |
| J453 | SIT50412 | Diploma of Holiday Parks and Resorts | Qualification |
| D147 | BSB40407 | Certificate IV in Small Business Management | Qualification |
| J450 | SIT50112 | Diploma of Travel and Tourism | Qualification |