Maintain financial records

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This unit describes the skills and knowledge required to maintain daily financial records such as reconciling systems for debtors and creditors, preparing and maintaining a general ledger and trial balance. It also includes activities associated with monitoring cash control for accounting purposes.

The unit applies to individuals employed in a range of work environments with responsibility for simple accounting functions within an organisation. They may work as individuals providing administrative support within an enterprise or may be other members of staff with delegated responsibilities relating to maintenance of general financial records.

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

Unit Sector

Business Competence – Financial Literacy

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.




  • Uses a limited range of mathematical calculations to reconcile amounts using whole numbers and decimals
  • Integrates data from different sources and records numerical information in a format appropriate to context and purpose of material
  • Arranges and compares numerical information


  • Recognises and interprets numerical and textual information to determine job requirements and complete required activities


  • Uses factual and suitable financial language to refer issues and inconsistencies in data


  • Recognises strengths and expertise of others and seeks their assistance as required

Planning and organising

  • Identifies and monitors adherence to applicable industry standards, legislative and organisational requirements in undertaking own work


  • Selects appropriate practices and protocols when handling confidential information
  • Recognises and addresses problems in the context of own work and seeks advice from others, as necessary


  • Uses digital technologies to access, record, store, organise and compile data as required

Unit Mapping Information

No equivalent unit. Supersedes but is not equivalent to:

  • BSBFIA301 Maintain financial records
  • BSBFIA304 Maintain a general ledger
  • BSBINT306 Apply knowledge of international finance and insurance to complete work requirements.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • accounting software
  • examples of source documents relating to financial record keeping including source journals and daily transactions.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Maintain financial records

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