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SITXFIN007

Process financial transactions

Note: SITXFIN007 supersedes SITXFIN001

Unit Code: SITXFIN007

This accredited training resource supports Australian Registered Training Organisations (RTOs) in delivering nationally recognised vocational education and training (VET).

The resource includes:

  • Learning Resource Material
  • Assessment Workbook
  • Assessment Mapping Guide covering Performance Criteria, Knowledge Evidence and Performance Evidence

Information on Catapult resources is available in the Catapult Knowledge Base.

Available in print and online.

This resource is available as a hardcopy (printed) book in Learner Guide and Trainer/Assessor Guide variants, and for online delivery and assessment through Catapult LMS. Contact us to learn more.

Important: RTOs are responsible for validating all training and assessment resources against their own Training and Assessment Strategy (TAS) and relevant regulatory requirements.

SITXFIN007 extracts from Catapult's unit

SITXFIN007
Table of Contents
SITXFIN007
Assessment Mapping

SITXFIN007 information from training.gov.au.

Application

This unit describes the performance outcomes, skills and knowledge required to accept and process 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.

The skills in this unit must be applied in accordance with Commonwealth and State/Territory legislation, Australian/New Zealand standards and industry codes of practice.

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

Assessment conditions

Skills must be demonstrated in an operational business environment. This can be:

  • an industry workplace; or
  • a simulated industry environment set up for the purposes of assessment.

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 payment
  • 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.

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