FNSACM312

Application

This unit describes the skills and knowledge required to reconcile financial transactions from bank accounts to the correct customer and ledger accounts and investigate difficulties.

The unit applies to those who may be required to work as part of a finance or accounting team.

Unit mapping information

No equivalent unit. Supersedes and is not equivalent to FNSACM302 Prepare, match and process receipts.

Licensing, legislative, regulatory or certification requirements

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Foundation skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit sector or competency field

Account management

Prerequisite, co-requisite or interdependent assessment of units

Not applicable

Assessment conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

• office equipment, technology, software and consumables
• bank records of financial transactions to be reconciled
• accounts system or computerised accounts system for bank reconciliation
• organisational policies and procedures
• integrated financial software system and data

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.