Occupational Standard - SSC/N2307 | SSC

Occupational Standard - SSC/N2307

Occupational Standard - SSC/N2307
Code SSC/N2307
Version 0.1
Industry Sub-Sector IT-ITeS/Business Process Management
Title Receive payments and apply cash
Description This unit is about making receiving payments from customers and applying payments to relevant invoices, as part of an outsourced finance and accounting process
Scope

Scope

This unit/task covers the following:

Cash Application types:

·         split

·         partial

·         full

·         adjustments

·         chargebacks

Appropriate people:

·     line manager

·     members of sales teams

·     customers

·     subject matter experts

Performance Criteria

Performance Criteria (PC) w.r.t. the Scope

 

To be competent, you must be able to:

PC1.      Verify the sources and amounts of payments received

PC2.      Record payments received in your organization’s systems, following your organization’s policies, procedures, guidelines and client-specific SLAs

PC3.      Identify the invoices/credit notes to which receipts relate in order to allocate payments correctly

PC4.      Direct receipts into relevant bank accounts, following your organization’s policies, procedures, guidelines and client-specific SLAs

PC5.      Identify any issues with payments from customers and clarify these with appropriate people

PC6.      Respond promptly to payment queries from customers referred by the accounts receivable helpdesk

PC7.      Reconcile receipts against bank statements on a periodic basis, as required

PC8.      Liaise effectively with banks regarding any queries about reconciliation of receipts

PC9.      Obtain advice and guidance from appropriate people, where required

PC10.    Comply with your organization’s policies, procedures, guidelines and client-specific SLAs when receiving payments and applying cash

Knowledge

Knowledge and Understanding (K)

A.      Organizational

Context (Knowledge of the company/  organization and  its processes)

You need to know and understand:

KA1.       Your organization’s policies, procedures, guidelines and client-specific SLAs for receiving payments and applying cash and your role in applying these

KA2.       Your organization’s systems and tools for recording payments and applying cash and how to use these

KA3.       Different cash application types used by your organization, including for credit and debit card payments, and how to handle these

KA4.       Data/information required for making payments

KA5.       Your organization’s processes for directing receipts into relevant bank accounts

KA6.       Your organization’s processes and guidelines for communicating with banks

KA7.       The required timescales for receiving and making payments and the importance of complying with these

KA8.       Who to obtain advice and guidance from

KA9.       Methods and techniques when working with others

KA10.    Standard tools and templates available and how to access and use these

KA11.    The importance of reconciling receipts against bank statements and how to do this

KA12.    Your organization’s policies and procedures for recording and storing records, maintaining information security and protecting data and the importance of complying with these

B. Technical  

     Knowledge

You need to know and understand:

KB1.       The importance of verifying the source and amount for payments received and how to do this

KB2.       How to check and allocate received payments against invoices/credit notes

KB3.       How to access and direct received payments into the relevant bank accounts

KB4.       How to identify and check un-allocated cash and what to do with outstanding un-allocated cash

KB5.       Ways in which customers may behave in cases where collection is delayed and how to address this

KB6.       Common issues with customer payments and who to seek guidance from to clarify and resolve these

KB7.       Types of queries referred from the accounts receivable helpdesk and standard responses to these

Skills

Skills (S)

A.      Core Skills/ Generic Skills

Writing Skills

You need to know and understand how to:

SA1.     Complete accurate well written work with attention to detail

SA2.     Communicate with others in writing

Reading Skills

You need to know and understand how to:

SA3.     Follow guidelines, procedures, rules and service level agreements

Oral Communication (Listening and Speaking skills)

You need to know and understand how to:

SA4.     Listen effectively and orally communicate information accurately

SA5.     Ask for clarification and advice from others

B.      Professional Skills

 

 

Decision Making

You need to know and understand how to:

SB1.     Follow rule-based decision-making processes

SB2.     Make decisions on suitable courses of action

Plan and Organize

You need to know and understand how to:

SB3.     Plan and organize your work to achieve targets and deadlines

CustomerCentricity

You need to know and understand how to:

SB4.     Carry out rule-based transactions in line with customer-specific guidelines, procedures, rules and service level agreements

SB5.     Work effectively in a customer facing environment

SB6.     Deliver consistent and reliable service to customers

Problem Solving

You need to know and understand how to:

SB7.     Refer anomalies to the supervisor

SB8.     Seek clarification on problems from others

Analytical Thinking

You need to know and understand how to:

SB9.     Analyze data and activities

SB10.    Pass on relevant information to others

Critical Thinking

You need to know and understand how to:

SB11.    Apply balanced judgments to different situations

Attention to Detail

You need to know and understand how to:

SB12.    Check your work  is complete and free from errors

SB13.    Get your work checked by others

Team Working

You need to know and understand how to:

SB14.    Contribute to the quality of team working

SB15.    Work effectively in a team environment

C.      Technical Skills

You need to know and understand how to:

SC1.       Use information technology effectively to input and/or extract data accurately

SC2.       Identify and refer anomalies in data

SC3.       Store and retrieve information

SC4.       Keep up to date with changes, procedures and practices in your role

SC5.       Use software packages and tools specific to your field of expertise

Attachment os_attachments/SSC_N2307_V0.1.pdf
Last Review On May 19, 2015, 2:04 p.m.
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