Elements and Performance Criteria

The following explanations identify how this unit may be applied in different workplaces, sectors and circumstances.

Payments may be received by:
cash
credit card
cheques
travellers cheques
foreign currency
vouchers
EFTPOS
money orders
promotional vouchers
prepaid vouchers

Payments may be received for:
advanced ticket bookings
tickets for the current performance/session/event
vouchers
merchandise
programmes

Reconciliation may use:
manual calculations
computerised point of sale terminals
electronic cash registers providing a print out of sales transactions

Organisational procedures may relate to:
billing
credit
cancellations
exchanges/amendments
refunds

Security procedures may relate to:
process for taking cash from customers
process for storing cash and other financial documents
maintaining low levels of cash at point of sale
rules for when, where and how cash can be counted
procedures for transporting cash from point of sale to cashier
handling customer claims of short change
hold up procedures

Appropriate personnel may include:
supervisor
front-of-house manager
cashier

Underpinning skills and knowledge

Assessment must include evidence of the following knowledge and skills:

basic numeracy skills sufficient to process transactions and reconcile takings
procedures for processing different types of transactions
principles of the reconciliation/balancing process
the role and importance of the reconciliation/balancing process in the broader financial management context of the organisation
security procedures for handling cash and non-cash transactions documents
broad knowledge of GST and how it affects financial transactions and documents issued to customers

Linkages to other units

This unit has strong linkages to the following units, and combined assessment and/or training is recommended:

WRRS1B Sell products and services
CUEFOH08A Process incoming customer orders

Critical aspects of evidence

The following evidence is critical to the judgement of competence in this unit:

ability to conduct accurate and secure financial transactions
ability to accurately balance transactions within acceptable organisational timeframes
knowledge of security procedures for handling cash and financial documents

Method and context of assessment

The assessment context must provide for:

processing transactions on multiple occasions to ensure that skills can be consistently demonstrated
processing a variety of types of transactions, both cash and non-cash to ensure that skills cover all types and encompass the use of a range of financial equipment and documentation
processing transactions within typical workplace time constraints e.g serving a queue of customers waiting to pay for tickets

Assessment may incorporate a range of methods to assess practical skills and the application of essential underpinning knowledge, and might include:

direct observation of the candidate processing financial transactions and balancing takings
review of reconciliation documentation prepared by the candidate
written or oral questions and tests to assess knowledge of cash and non-cash transactions
review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate.
Assessment methods should closely reflect workplace demands and the needs of particular groups (eg people with disabilities, and people who may have literacy or numeracy difficulties such as speakers of languages other than English, remote communities and those with interrupted schooling).

Resource requirements

Assessment of this unit requires access to:

legal tender
current industry and financial institution equipment used to process non-cash financial transactions, eg credit card machines, cash registers/tills

Key competencies are built into all workplace competencies. The following table describes those applicable to this unit. Trainers and assessors should ensure that they are addressed in training and assessment. Level 1 = PerformLevel 2 = Administer and ManageLevel 3 = Design and Evaluate
Communicating ideas and information
Completing a credit card transaction (1)

Collecting analysing and organising information
Informing customers of the correct amount due (1)

Planning and organising activities
Organising reconciliation of takings (1)

Working with others and in teams
Liaising with colleagues in relation to timing of float replenishment (1)

Using mathematical ideas and techniques
Calculating change due to a customer (1)

Solving problems
Investing a discrepancy when reconciling takings (1)

Using technology
Using an electronic till (1)