SITXFIN001

Application

This unit describes the performance outcomes, skills and knowledge required to accept and process cash and other payments for products and services, and reconcile takings at the end of the service period or day.

The unit applies to all tourism, travel, hospitality and event sectors.

This unit mainly applies to frontline sales and operations personnel who operate with some level of independence and under limited supervision. It does, however, describe a fundamental operational function and those people who work with very little independence under close supervision would also use this skill.

Unit mapping information

SITXFIN201 Process financial transactions

Licensing, legislative, regulatory or certification requirements

No occupational licensing, certification or specific legislative 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

Cross-Sector—Finance

Prerequisite, co-requisite or interdependent assessment of units

Not applicable

Assessment conditions

Skills must be demonstrated in an operational tourism, travel, hospitality or events environment where financial transactions are processed. This can be:

• an industry workplace
• a simulated industry environment

Assessment must ensure access to:

• point-of-sale equipment and software currently used to process and reconcile financial transactions
• current commercial procedures and documentation for the processing of financial transactions
• cash and other forms of payments
• customers from whom the individual can take payments and with whom they can interact; these can be:

  • customers in an industry workplace who are assisted by the individual during the assessment process; or

  • individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment operated within a training organisation

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.