2a: Balancing transactions

This section covers these performance criteria:

All transactions should be presented to the responsible person/section for
checking in accordance with workplace procedures
Invoices for payment to creditors are reconciled in accordance with workplace
procedures
Discrepancies between invoices and delivery notes/service agreements are
identified and reported for resolution in accordance with workplace
procedures
Errors in invoice charges are identified and corrective action is undertaken
within scope of authority in accordance with workplace procedures

Transactions are presented for checking in accordance with

workplace procedures

A payments clerk is usually unable to process transactions without at least some

level of checking of the transactions by a supervisor. This checking process helps
make sure:
errors are detected before they are processed
customers receive a high quality service
the business runs smoothly and efficiently

Each business will have a set of processes for these checks and balances to be
carried out.

The processes can take many forms including:

the payments clerk and supervisor working through the transactions together
transactions are signed off by the supervisor
transactions are emailed to the supervisor for checking/approval
transactions are sent via Electronic Data Interchange (EDI) to the supervisor,
usually in batches or bundles
transactions are electronically signed by the payments clerk using a software
system which automatically alerts the supervisor that their input is needed

It is a payments clerk's responsibility to understand the process for their business and
follow it.

Collaboration
By approaching the checking process in a collaborative manner there can be a
benefit both the payments clerk and their supervisor. It provides an opportunity for
the supervisor to identify and provide any additional training/ coaching they feel is
necessary. For example, where a payments clerk has repeated the same error over a
number of transactions it is most likely because they do not know the correct
process. During the checking process the supervisor should pick up any pattern of
errors and then take the payments clerk aside to explain what it being done
incorrectly and explain to them how to complete the task accurately. In this way
there is an opportunity for the payments clerk to seek clarification and there is
opportunity to increase their understanding of processes.

Now complete the learning task below. (called task 5

in the activities tab)
In your role you regularly process customer transactions. These transactions require your business
to pay for goods and/or services they have received. Company policy states Payments must be
authorized by a supervisor or manager before payment can be made.

1. When you go to hand your supervisor the payment s for authorization, you find they are in
the middle of a meeting with the managers. You know that these meetings are not to be
interrupted, but the payments are urgent.
What do you do to ensure the [payments are made on time?
. __________________________________________________________________________________.
__________________________________________________________________________________.
__________________________________________________________________________________.
__________________________________________________________________________________.
__________________________________________________________________________________.
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To make sure the payments are authorized quickly, you decide to double check each payment to
make sure it is correct.
List at least 5 things you should check when you are undertaking this second check of the
payments.
1. .
__________________________________________________________________________________
2.
__________________________________________________________________________________
3.
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4.
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5.
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.