This unit describes the skills and knowledge required to establish and administer a cash receipts and payments system, and manage bank reconciliations and reporting responsibilities for manual and computerised systems.  It applies to individuals in positions with some responsibility who may use a range of organisational and analytical techniques to provide bookkeeping services for organisations and small business owners or managers.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:


Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each competency unit's learning outcomes and performance criteria requirements, including the setting of project and work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following required skills: - establish client files and set up manual and computerised bookkeeping system on a cash basis; - thoroughly check invoices, receipts, payments and balances outstanding; - use bank account and cash reconciliation processes; - establish a basic chart of accounts; - carry out bank reconciliations and prepare reports, and; - follow organisational procedures and legislative requirements in conducting all activities. Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.Students will also be expected to demonstrate the following knowledge: - explain the differences between cash and accrual accounting; - describe the key accounting and reporting requirements for different types of business entities; - explain bookkeeping activities necessary to meet the requirements of activity statement statutory, legislative and regulatory requirements; - outline relevant industry codes of practice; - describe organisational policy and procedures that relate to processing accounts and transactions; - outline possible reasons for discrepancies between monies owed and monies paid, and; - outline the different features of manual and computerised accounting systems.

Where to next?

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