This unit describes skills and knowledge required to maintain accounts payable and accounts receivable records, including processing payments to creditors and handling overdue accounts receivable.
It applies to individuals employed in a range of work environments supporting the accounting functions and aspects of an enterprise. They may provide administrative support within an enterprise, or may be members of staff who have been delegated accounting responsibilities.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Finance – Financial Administration
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Unit Mapping Information
Supersedes BSBFIA303 Process accounts payable and receivable
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial administration field of work and include access to:
- office equipment and resources
- computer equipment and relevant software
- examples of cash journals, credit journals, accounts payable and accounts receivable subsidiary legers
- workplace reference materials such procedural manuals and company policy
- case studies and, where possible, real situations..
Assessors must satisfy NVR/AQTF assessor requirements.