Course Title: Process accounts payable and receivable

Part B: Course Detail

Teaching Period: Term2 2013

Course Code: ACCT5269C

Course Title: Process accounts payable and receivable

School: 650T TAFE Business

Campus: City Campus

Program: C4223 - Certificate IV in Business Administration

Course Contact : Sylvia Baroutis

Course Contact Phone: +61 3 9925 5469

Course Contact

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 30

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course Description

This course covers the maintenance of accounts payable and accounts receivable  records, including processing payments to creditors and handling overdue accounts receivable. The course is suitable for individuals employed (or seeking employment) in a range of work environments supporting the accounting functions and aspects of an enterprise.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBFIA303A Process accounts payable and receivable


1. Maintain financial journal systems

Performance Criteria:

1.1 Check source documents for accuracy and appropriate authorisation

1.2 Refer errors and discrepancies in source documents for resolution, in accordance with organisational policy and procedures

1.3 Enter transactions into cash and credit journal system in accordance with organisational policy and procedures, and relevant legislation and compliance requirements

1.4 Total credit journals in accordance with organisational policy and procedures


3. Maintain accounts payable and accounts receivable systems

Performance Criteria:

3.1 Enter transactions into individual accounts payable and receivable, in accordance with organisational policy and procedures, and accounting requirements

3.2 Prepare schedules of accounts payable and accounts receivable for reconciliation purposes, in accordance with organisational requirements

3.3 Reconcile schedules accounts payable and accounts receivable with journal data or general ledger, in accordance with organisatoinal requirements


6. Follow up outstanding accounts

Performance Criteria:

6.1 Maintain accounts receivable ledger system, in accordance with organisational requirements, to reflect current credit situation

6.2 Conduct aged analysis of accounts recievable to identify outstanding accounts and to determine collection procedures, in accordance with organisational requirements

6.3 Report or follow-up outstanding accounts in accordance with organisational policy and procedures

6.4 Monitor and review credit terms in accordance with credit policy and procedures


2. Prepare bank reconciliations

Performance Criteria:

2.1 Check cash journals against bank statements to identify differences

2.2 Update cash journals with relevant data from bank statement/s

2.3 Identify discrepancies and refer to appropriate staff member, organisation or agency

2.4 Total cash journals in accordance with organisational policy and procedures

2.5 Prepare regular reconciliation reports within designated time lines


4. Process payments for accounts payable

Performance Criteria:

4.1 Reconcile accounts payable statements with accounting records, in accordance with organisational policy and procedures

4.2 Check payment documentation for accuracy of information and discrepancies and rectify errors, in accordance with organisational requirements


5. Prepare statements for accounts receivable

Performance Criteria:

5.1 Produce and check accounts receivable statements for accuracy of content in accordance with organisational policy and procedures

5.2 Rectify discrepancies and statements despatched within designated time lines

Learning Outcomes

Details of Learning Activities

Students will engage in reading, class discussions and ’hands-on’ computer exercises and activities related to the development of the skills and knowledge to be able to process accounts payable and receivable.

Teaching Schedule

Week beginningTopicAssessments

Week 1



Introduction to Accounting Concepts

Source Documents - What are they?

Underpinning knowledge

Week 2


Processing business transactions

Portfolio Activity
Chp. 2/3

Week 3Processing business transactions - Sales invoicing

Portfolio Activity
Chp 4


Week 4Processing business transactions - Sales invoicingPortfolio Activity
Chp 4 cont.
Week 5Processing business transactions - AdjustmentsPortfolio Activity
Chp 4 cont.
Chp 5/6
Week 6Processing business transactions - Customer payments and banking statementsPortfolio Activity
Chp 7
Week 7ConsolidationPortfolio Activity
Chp 8
Week 8Revision - Accounts receivable

Portfolio Activity
Chp 9

Week 9PurchasesPortfolio Activity
Chp 10
Week 10 PurchasesPortfolio Activity
Chp 10 
Week 11Payment to suppliersPortfolio Activity
Chp 11
Week 12ConsolidationPortfolio Activity
Chp 12
Week 13Revision - Accounts PayablePortfolio Activity
Chp 13
Week 14Cash paymentsPortfolio Activity
Chp 14
Week 15Reconciling the cheque accountsPortfolio Activity
Chp 15
Week 16Integrated exerciseFinal Assessment
Unit 16

Learning Resources

Prescribed Texts

Software Publications - A Step by Step Approach to Process Accounts Payable and Receivable using MYOB AccountRight v 19



Other Resources

Overview of Assessment

Assessment may incorporate a variety of methods including in-class exercises, problem-solving exercises, assignments, group or individual projects, presentations and written or practical tests, as well as homework activities.

Other activities may be workplace-based or simulated work practices. These may include the production of technical requirements documents, direct observation of workplace practices and the presentation of a portfolio of evidence. This portfolio may include documents, photographs, video and/or audio files.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.

Assessment Tasks

There are two assessments for this unit:

ASSESSMENT 1 - Portfolio of evidence - Weekly activities - submitted weekly online

The final portfolio comprising all activities should be resubmitted in Week 16.

ASSESSMENT 2 - Final assessment - Unit 16 - Textbook

This assessment is open book.

Assessment Matrix

Other Information

myRMIT STudies

RMIT Library

Course Overview: Access Course Overview