Unit of competency Outline

Date retreived
22/07/2026 8:14 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 payment documentation

Process payment documentation

Unit of competency
National Code
FNSACM303A
State Code
D4028
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
21/07/2014
Field of Education
080101 - Accounting
Original Release Date
21/07/2014
Nominal Hours
10
Description
This unit describes the performance outcomes, skills and knowledge required to identify payments for processing and accurately process financial payment documents.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Enter data to system
  • 1.1. Data is entered into systems without error and within time requirements as specified in relevant organisation policy and procedures
  • 1.2. Data is allocated to correct systems and accounts and related systems are updated
  • 1.3. System controls are maintained to ensure the integrity and security of client and payee database
2. Create payment facility
  • 2.1. Payment facility is processed accurately in accordance with organisation policy and procedures
  • 2.2. Documentation is maintained in a secure manner to protect the privacy and interests of all parties
3. Verify payments against documentation
  • 3.1. Authorisation for payment is confirmed with information on payment facility matching approved documentation
  • 3.2. Discrepancies are identified and followed up promptly
4. Effect payments
  • 4.1. Payments are made within agreed credit arrangements in accordance with organisation policy and procedures and industry and legislative requirements
  • 4.2. Payment instruments are signed in accordance with relevant authority levels and related systems updated promptly to ensure that the integrity of accounting systems are maintained
  • 4.3. Primary documentation associated with payment is cancelled or noted to ensure multiple payments are not made
5. File documentation
  • 5.1. Documentation is filed promptly in accordance with organisation policy and procedures
  • 5.2. Location of filed documentation is easily accessible and traceable
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.
Organisation policy and procedures may include:
computer system documentation
internal control guidelines
operations manuals.
Related systems may include:
assets system
claims
commissions and fees
holding/suspense accounts
receivables
reinsurance
tax related.
Systems controls:
protect against the corruption of payee:
name
address
bank account details.
Payment facility documentation may include:
authorisation slips
batch records
cheque cancellations
confirmation of receipt
delivery dockets
invoices
payment requests
periodic approvals
signature verifications
stop payments.
Industry and legislative requirements may cover:
Anti-Money Laundering and Counter Terrorism Financing Acts
Consumer Credit Protection (Fees) Act
industry codes of practice
occupational health and safety (OHS) acts and guidelines
Privacy Act
relevant Insurance Act
Stamp Duties Act
Taxation Act.
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:
interpret and apply organisation, industry and legislative requirements for processing payment documentation
accurately enter data in organisation systems
create payment facilities and verify payments against documentation.

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 data

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
evaluating samples of work
accessing and validating third party reports.

Guidance information for assessment
Replaces
State Code National Code Title Type
C9718 FNSICACC305B Process payment documentation Unit of competency
Replaced By
State Code National Code Title Type
AUQ28 FNSACM303 Process payment documentation Unit of competency