Chapter Name: Process payments
Description:Covers administrative handling of business payments, invoices, and receipts.
Purpuse:To maintain proper financial records and accountability.
Rational:Accurate payment processing prevents financial loss and enhances credibility.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Process payments
Learners are expected to accurately process payments, ensuring timely and correct transactions.
Assessment Questions
Assessment 1 : Payments to suppliers are processed within agreed timeframes and in accordance with company standards.
Learners must describe how they plan to meet operating costs, including rent, by processing payments on time and in line with company standards.
Assessment 2 : Payments to staff and casual labourers are processed within agreed timeframes and in accordance with company standards.
Learners must describe the steps needed to execute and track promotional activities, ensuring they align with business objectives.
Assessment 3 : Payments for operating costs and rent are processed within agreed timeframes and in accordance with company standards.
Learners must describe how to identify the resources (e.g., budget, staff, tools) necessary for planned promotional activities and how to acquire them.