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 details

Study level:
Vocational and further education (TAFE)
Unit code:
SITXFIN001

Assessment

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit's learning outcomes and performance criteria requirements, including the setting of 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: - process at least six different financial transactions using at least three different types of financial transactions listed in the knowledge evidence to address different types of customer payments - process each of the above financial transactions: - in line with security and other relevant procedures; - in a logical sequence; - within customer time constraints so that all customers are served effectively, and; - complete reconciliations of three different work or service periods within designated timelines.Students will also be expected to demonstrate the following knowledge: - types of financial transactions that commonly take place in tourism, travel, hospitality and event organisations; - procedures for processing and recording different types of transactions; - features and functions of point-of-sale software; - role and importance of the reconciliation process to organisational financial management system; - security procedures for transporting and securing cash floats, cash and other payments, and; - different products and services that attract GST.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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