Unit of competency Outline

Date retreived
22/07/2026 8:48 AM AWST

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Balance cash holdings

Balance cash holdings

Unit of competency
National Code
FNSRTS308A
State Code
D4160
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
24/11/2010
View on TGA
State Implementation and Classification
Approved Date
07/02/2012
Field of Education
080101 - Accounting
Original Release Date
07/02/2012
Nominal Hours
20
Description
This unit describes the performance outcomes, skills and knowledge required to clear registers, count money, calculate non-cash transactions and reconcile takings and balance cash holdings.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Maintain accurate cash floats
  • 1.1. Cash in drawer is maintained in accordance with organisation's policies and procedures
  • 1.2. Regular cash transaction processing and proofings are conducted within specified timeframes and recorded appropriately with cash withdrawn and deposited checked for accuracy
  • 1.3. Cash at close of business is counted in accordance with organisation's policies and procedures and discrepancies are investigated and corrected in order to balance float
  • 1.4. Cash within organisation budget is maintained within set limits
2. Remove receipts from terminal
  • 2.1. Terminal balances are performed in line with organisation's policies and procedures and cash supplied to terminal according to organisation policies and procedures with float separated from takings prior to balancing procedures
  • 2.2. Terminal information is recorded appropriately after accurate checking
  • 2.3. Security policies and procedures are followed in the removal and transportation of cash, cash float and non-cash documents
3. Reconcile takings
  • 3.1. Cash and non-cash documents are correctly counted and calculated with terminal reading and sum of cash and non-cash transactions compared appropriately to achieve balance
  • 3.2. Records of individual takings are recorded accurately and in accordance with organisation's policies and procedures
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.
Cash in drawer includes:
notes and coins held in manual cash handling devices.
Terminal includes:
a range of manual or electronic equipment used for the deposit and withdrawal of cash and non-cash documents.
Organisation policies and procedures include policies and procedures relating to:
neatness and tidiness of cash in drawer
terminal balancing and security
time frames for:
processing transactions
periodic and end of day balances
recording of discrepancies.
Security policies and procedures includes:
organisational policies and procedures that specifically refer to the securing and safe handling and transport of money and non-cash transactions.
Non-cash documents or transactions may include
cheques
credit cards
EFTPOS.
Accurate recording of information may require recording on:
duplicate or triplicate copies
permanent hard copy
proformas.
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:
accurately balance cash holdings in accordance with the organisation's requirements and procedures and precisely check cash and non-cash transactions.

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 a financial cash and non-cash transaction system and consumables.

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
accessing and validating third party reports.

Guidance information for assessment
Replaces
State Code National Code Title Type
C9909 FNSRETA309B Balance cash holdings Unit of competency
Replaced By
State Code National Code Title Type
AUT06 FNSRTS308 Balance cash holdings Unit of competency