Home - FNS04 - FNSRETA309B
Balance cash holdings
|Unit Descriptor||This unit describes those functions involved in balancing cash holdings including clearing registers, counting money, calculating non-cash transactions and reconciling takings.|
|1 . Maintain accurate cash floats||
|2 . Remove receipts from terminal||
|3 . Reconcile takings||
|Key Competency||Examples of Application||Performance|
|How can information be collected, analysed and organised?|
|How are ideas and information communicated within this competency?|
|How are activities planned and organised?|
|How are problem solving skills applied?|
|How are mathematical ideas and techniques used?|
|How is use of technology applied?|
|How is team work used within this competency?|
a range manual or electronic equipment used for the deposit and withdrawal of cash and non cash documents
Cash in drawer includes:
notes and coins held in manual cash handling devices
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
Organisation's policies and procedures include policies and procedures relating to:
terminal balancing and security
neatness and tidiness of cash in drawer
time frames for processing transactions, periodic and end of day balances, and recording of discrepancies
Non-cash documents or transactions may include:
Accurate recording of information may require recording on:
permanent hard copy
duplicate or triplicate copies
Overview of assessment
To achieve competency in this unit, a person must be able to demonstrate:
accurate daily balancing of cash holdings in accordance with the organisation's requirements and procedures
demonstrated ability to precisely check cash and non-cash transactions
basic knowledge of relevant legislation
implementation of cash balancing procedures in accordance with industry codes of practice and company policy
ability to use relevant data entry, terminal and office equipment
Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.
Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.
Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.
Context of assessment:
This unit may be assessed in the workplace or in a simulated environment.
Resources required for assessment:
Assessment of this unit of competence requires access to company policies and practises, relevant IT systems and the databases of the financial services company.