Unit of competency Outline

Date retreived
22/07/2026 7:41 AM AWST

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Perform reconciliations

Perform reconciliations

Unit of competency
National Code
FNSFMK411
State Code
OBR89
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
01/07/2020
View on TGA
State Implementation and Classification
Approved Date
02/10/2020
Field of Education
080101 - Accounting
Original Release Date
02/10/2020
Nominal Hours
20
Description
This unit describes the skills and knowledge required to ensure internal and external information is consistent with data held in operational systems and accounts, and escalate and resolve discrepancies.The unit applies to individuals who use specialised knowledge to carefully review discrepancies in organisational systems, investigate the cause(s), and resolve or escalate to minimise any compensation claims or overdraft items.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify non-reconciled items
  • 1.1 Identify accounts or data held in internal and external systems for reconciliation
  • 1.2 Check and compare details of trades, cash and security movements against internal and external systems for inconsistencies and errors
  • 1.3 Identify discrepancies in transaction holdings
2. Investigate, escalate, and resolve discrepancy
  • 2.1 Investigate discrepancies and exceeded tolerance levels within set timeframes as set out in organisational standards and procedures
  • 2.2 Escalate unreconciled discrepancies for review to organisational personnel according to organisational procedures
  • 2.3 Resolve reconciliation after discrepancies have been rectified
No information
No information
Replaces
State Code National Code Title Type
AUR09 FNSFMK401 Reconcile financial transactions Unit of competency