SISXFAM002 — Process financial transactions
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What an assessment for SISXFAM002 must cover
29 assessable components: 2 elements (13 performance criteria), 2 performance evidence and 12 knowledge evidence requirements, plus 2 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.
Elements & performance criteria
1 Process customer payments.
- 1.1Receive, check and record cash float according to organisational procedures.
- 1.2Check customer payments against sale value.
- 1.3Calculate and provide correct change for cash payments.
- 1.4Prepare and issue accurate receipts including all relevant tax details.
- 1.5Complete refund transactions according to organisational policies and procedures.
- 1.6Process and record transactions using software applications and according to organisational procedures.
- 1.7Collect and record accurate client data according to record keeping requirements.
2 Reconcile takings.
- 2.1Balance customer payments at the designated time according to organisational procedures.
- 2.2Accurately count and calculate customer payments.
- 2.3Balance cash and other payments with point-of-sale records and account for float.
- 2.4Investigate and report discrepancies in the reconciliation.
- 2.5Record takings according to organisational procedures.
- 2.6Transport and secure cash and other payments according to organisational security procedures.
Performance evidence
- efficiently and accurately process six customer financial transactions, including all of the following types: cash, electronic funds transfer at point-of-sale (EFTPOS), payment using voucher, direct deposit advance payment, refund
- reconcile takings on three occasions
Knowledge evidence
- organisational procedures relevant to financial transactions: taking cash payments and counting cash and change
- actions to take in the event of customer claim of short change
- processing other forms of payment: credit and debit card transactions, vouchers - discount, gift, or free trial, direct deposits
- providing invoices and receipts to customers
- completing reconciliations at designated times, and record keeping requirements
- exchanges, returns and refunds
- security-related procedures: maintaining low levels of cash in tills, security of credit and debit card transactions, securing and transporting cash, how and where large sums of cash should be counted, actions to take in the event of a hold-up
- features and functions of point-of-sale equipment and software
- role and importance of the reconciliation process to organisational financial management system
- organisational services and related transaction types
- different products and services that attract a Goods and Services Tax (GST)
- customer information required for products and services purchased
Foundation skills
- Reading skills: interpret detailed and familiar organisational procedures for processing financial transactions.
- Writing skills: complete reconciliations and basic reports using template forms.
Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.
See what you get before you start
Real, unedited Auditori output (RIIHAN201E shown), branded for a sample RTO:
Questions about assessing SISXFAM002
What does an assessment tool for SISXFAM002 need to cover?
To satisfy the Principles of Assessment and Rules of Evidence, an assessment for SISXFAM002 needs to address all 29 unit components: 2 elements with 13 performance criteria, 2 performance evidence requirements, 12 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.
How does Auditori generate an assessment tool for SISXFAM002?
Auditori pulls the current release of SISXFAM002 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.
Is the first assessment tool really free?
Yes. Every new account includes one free credit — enough to generate the complete assessment tool for SISXFAM002 — with no card and no subscription required. After that it's pay-as-you-go per unit.
Can I check my existing SISXFAM002 assessment instead of generating a new one?
Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of SISXFAM002, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.
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- SISXFAC011 — Manage stock supply and purchase
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