Unit of competency Outline
Date retreived
22/07/2026 3:35 PM AWST
22/07/2026 3:35 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.
Balance retail transactions
Balance retail transactions
Unit of competency
National Code
FNSRTS303A
FNSRTS303A
State Code
D4155
D4155
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
30/05/2011
Field of Education
080101 - Accounting
Original Release Date
30/05/2011
Nominal Hours
30
Description
This unit describes the performance outcomes, skills and knowledge required to balance cash holdings including clearing registers, counting money, calculating non-cash transactions and reconciling takings.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Maintain terminal balances
- 1.1. Cash drawers or teller cash dispensers are maintained in accordance with organisation's policies and procedures
- 1.2. Paid out cash is manually checked for accuracy and transactions at close of business are balanced in accordance with organisation policies and procedures with any discrepancies investigated and corrected in order to balance terminal
2. Remove receipts from terminal
- 2.1. Terminal balances are performed in line with organisation's policies and procedures
- 2.2. Cash is supplied to terminal or drawer according to organisation's policies and procedures and terminal information is recorded appropriately after accurate checking
- 2.3. Security policies and procedures are followed in the removal and transportation of cash and non-cash documents
3. Reconcile receipts
- 3.1. Cash and non-cash documents are correctly counted and calculated
- 3.2. Terminal reading and sum of cash and non-cash transactions are compared appropriately to achieve balance
- 3.3. 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.
Transactions include:
deposits of cash or cheques
transfers between accounts
withdrawals of cash.
Organisation's policies and procedures relate to:
neatness and tidiness of cash in drawer
terminal balancing and security
timeframes for:
processing transactions
periodic and end of day balances
recording of discrepancies.
Appropriate recording of information may include recording on:
duplicate or triplicate copies
permanent hard copy
proformas.
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.
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.
Transactions include:
deposits of cash or cheques
transfers between accounts
withdrawals of cash.
Organisation's policies and procedures relate to:
neatness and tidiness of cash in drawer
terminal balancing and security
timeframes for:
processing transactions
periodic and end of day balances
recording of discrepancies.
Appropriate recording of information may include recording on:
duplicate or triplicate copies
permanent hard copy
proformas.
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.
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 daily management of cash holdings in accordance with the organisation's requirements and procedures
precisely check cash and non-cash transactions
effectively use relevant data entry, terminal and office equipment.
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 transaction 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
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:
accurately balance daily management of cash holdings in accordance with the organisation's requirements and procedures
precisely check cash and non-cash transactions
effectively use relevant data entry, terminal and office equipment.
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 transaction 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
accessing and validating third party reports.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9903 | FNSRETA303B | Monitor and manage transactions | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS89 | FNSRTS303 | Balance retail transactions | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D701 | FNS20111 | Certificate II in Financial Services | Qualification |
| D702 | FNS30111 | Certificate III in Financial Services | Qualification |
| S693 | FNS30110 | Certificate III in Financial Services | Qualification |