Unit of competency Outline

Date retreived
22/07/2026 9:31 PM AWST

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Process financial transactions

Process financial transactions

Unit of competency
National Code
SISXFAM002
State Code
OEN48
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
13/12/2022
View on TGA
State Implementation and Classification
Approved Date
14/08/2023
Field of Education
080101 - Accounting
Original Release Date
14/08/2023
Nominal Hours
15
Description
This unit describes the performance outcomes, skills and knowledge required to accept and process cash and other payments for products and services, and to reconcile takings.This unit applies to any type of sport, fitness, aquatic or recreation organisation including commercial, not-for-profit, community and government organisations. It applies to individuals working in a range of sport, fitness, aquatic or recreation roles at different levels of responsibility, but usually to those who work under supervision.The skills in this unit must be applied in accordance with Commonwealth and State or Territory legislation, Australian standards and industry codes of practice.No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Process customer payments.
  • 1.1. Receive, check and record cash float according to organisational procedures.
  • 1.2. Check customer payments against sale value.
  • 1.3. Calculate and provide correct change for cash payments.
  • 1.4. Prepare and issue accurate receipts including all relevant tax details.
  • 1.5. Complete refund transactions according to organisational policies and procedures.
  • 1.6. Process and record transactions using software applications and according to organisational procedures.
  • 1.7. Collect and record accurate client data according to record keeping requirements.
2. Reconcile takings.
  • 2.1. Balance customer payments at the designated time according to organisational procedures.
  • 2.2. Accurately count and calculate customer payments.
  • 2.3. Balance cash and other payments with point-of-sale records and account for float.
  • 2.4. Investigate and report discrepancies in the reconciliation.
  • 2.5. Record takings according to organisational procedures.
  • 2.6. Transport and secure cash and other payments according to organisational security procedures.
No information
No information
Replaces
State Code National Code Title Type
AVD09 SISXFIN002 Process financial transactions Unit of competency