Unit of competency Outline

Date retreived
22/07/2026 6:09 AM AWST

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Set up and operate computerised accounting systems

Set up and operate computerised accounting systems

Unit of competency
National Code
FNSACC426
State Code
OEB92
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080905 - Practical Computing Skills
Original Release Date
07/12/2022
Nominal Hours
70
Description
This unit describes the skills and knowledge required to establish, operate, and modify an integrated computerised accounting system. This involves processing transactions in the system, maintaining the system, producing reports, and ensuring system integrity.The unit applies to individuals who, within the scope of own responsibility, use specialised knowledge, information technology, and planning and organising skills to establish and maintain an organisational system in service and trading environments.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Implement integrated accounting system
  • 1.1 Establish general ledger, chart of accounts, and subsidiary accounts according to organisational requirements, policies and procedures
  • 1.2 Set up customers, suppliers and inventory items in system according to organisational requirements and reporting requirements of goods and services tax (GST)
  • 1.3 Establish and review system output, verify accuracy of data, and identify sources of technical help and use them to solve operational problems
2. Process transactions in system
  • 2.1 Prepare input data for processing
  • 2.2 Process cash and credit transactions according to organisational policies and procedures
  • 2.3 Use general journal to make balance day adjustments for prepayments and accruals
  • 2.4 Review system output process, verify accuracy of data input, and make adjustments for any detected processing errors
  • 2.5 Perform end of financial year rollover according to legislative requirements and organisational policies and procedures
3. Maintain system
  • 3.1 Add new general ledger accounts, and customer, supplier, inventory and fixed asset records as required
  • 3.2 Maintain and update existing chart of accounts, and customer, supplier, inventory and fixed asset records and subsidiary accounts
  • 3.3 Customise chart of accounts according to reporting requirements of organisation
4. Produce reports
  • 4.1 Generate reports that indicate financial performance and financial position of organisation, and for GST purposes
  • 4.2 Generate reports that confirm that subsidiary ledgers and accounts reconcile with general ledger
  • 4.3 Generate reports that confirm that system’s bank account entries reconcile with bank statements
  • 4.4 Identify and implement systems and secure information storage practices according to legislative and organisational requirements
  • 4.5 Maintain secure record of processed transactions for audit purposes
No information
No information
Replaces
State Code National Code Title Type
BBH68 FNSACC416 Set up and operate a computerised accounting system Unit of competency