SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Record business financial transactions 
SAQA US ID UNIT STANDARD TITLE
114736  Record business financial transactions 
ORIGINATOR
SGB GET & FET Business, Commerce and Mngment Stud 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is for people who are responsible for controlling the finances of a small business or who are responsible for the bookkeeping aspect of financial management in larger organisations.

Qualifying learners will be able to:
  • Process Receipts and Payments
  • Enter records in an analysed cash book for both cash and bank entries
  • Check invoices received against orders
  • Produce quotations and invoices
  • Record debtors and creditors
  • Reconcile supplier's statements
  • Prepare a bank reconciliation statement 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication, Mathematical Literacy and Accounting at NQF Level 3. 

    UNIT STANDARD RANGE 
  • A person may exhibit this competence in the private and/ or the public sector.
  • VAT returns are included. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Process Receipts and Payments. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Cash payments are received and made according to organisational procedures and accepted bookkeeping practice. 

    ASSESSMENT CRITERION 2 
    Cheque payments are received and made according to organisational procedures and accepted bookkeeping practice. 
    ASSESSMENT CRITERION RANGE 
    Completion of cheques and deposit slips.
     

    ASSESSMENT CRITERION 3 
    Debit and Stop order payments are received and made according to organisational procedures and accepted bookkeeping practice. 

    SPECIFIC OUTCOME 2 
    Enter records in an analysed cash book for both cash and bank entries. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Transactions are processed through a columnar/analysis cash book. 

    ASSESSMENT CRITERION 2 
    The cash book is balanced and the cash and bank balances are brought down according to standard bookkeeping procedure. 

    SPECIFIC OUTCOME 3 
    Check invoices received against orders. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Invoices received are checked against relevant source information. 

    ASSESSMENT CRITERION 2 
    Invoices received are checked for arithmetical accuracy. 

    SPECIFIC OUTCOME 4 
    Produce quotations and invoices. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Quotations are prepared from the relevant source documentation and information. 

    ASSESSMENT CRITERION 2 
    Sales invoices are prepared from the relevant source documentation and information. 

    SPECIFIC OUTCOME 5 
    Record debtors and creditors. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Records of all debts owed to and by a business are kept securely. 

    ASSESSMENT CRITERION 2 
    Outstanding debts that are owed to a business are calculated accurately. 

    ASSESSMENT CRITERION 3 
    Outstanding debts that are owed by a business are calculated accurately. 

    SPECIFIC OUTCOME 6 
    Reconcile supplier's statements. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A statement of account received from a trade creditor is reconciled with relevant source documentation and the cash book. 
    ASSESSMENT CRITERION RANGE 
    Products ordered and received, supplier invoices received.
     

    SPECIFIC OUTCOME 7 
    Prepare a bank reconciliation statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The time lag differences between the cash book bank account postings and the bank statement postings is accounted for using standard accounting practice. 

    ASSESSMENT CRITERION 2 
    The cash book balance is updated for time lag differences following reconciliation. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA,or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically (showing responsibility towards the environment and health of others). 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Be culturally and aesthetically sensitive across a range of social contexts. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  48736   National Certificate: Small Business Financial Management  Level 4  NQF Level 04  Reregistered  2023-06-30  FASSET 
    Core  49119   National Certificate: Craft Operational Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  CATHSSETA 
    Elective  58375   National Certificate: Bookkeeping  Level 3  NQF Level 03  Reregistered  2023-06-30  FASSET 
    Elective  50479   Further Education and Training Certificate: Advertising  Level 4  NQF Level 04  Reregistered  2023-06-30  MICTS 
    Elective  67461   Further Education and Training Certificate: Event Support  Level 4  NQF Level 04  Reregistered  2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  49531   Further Education and Training Certificate: Inclusive Education  Level 4  NQF Level 04  Reregistered  2023-06-30  ETDP SETA 
    Elective  71729   Further Education and Training Certificate: Public Relations Practice  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  48875   Further Education and Training Certificate: Public Relations Practice  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2009-09-09  Was SERVICES until Last Date for Achievement 
    Elective  57611   National Certificate: 2D Animation  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Afric Training Centre and Security Studies PTY LTD 
    2. Artshub Institute 
    3. ATTI Nelspruit Pty Ltd 
    4. Aviwe Business Development and 
    5. BDCE (Pty) Ltd 
    6. Big Fish 
    7. BLC Entertainment 
    8. Bopang Consulting Services (PT 
    9. College Africa Group (Pty) Ltd 
    10. CREATIVE ARTS COLLEGE 
    11. Digital Media Arts College 
    12. Epitome Villa (Pty)Ltd 
    13. EYETHU NATIONAL COMPUTER COLLEGE PTY LTD 
    14. FILM Mentorship & Training SA 
    15. Footprint Media academy Pty ltd 
    16. Frayintermedia Cc 
    17. Gauteng City College 
    18. Gauteng College of Engineering 
    19. Gold Class Group 
    20. Greenview Training and Development Skills Centre 
    21. HILLCROSS BUSINESS SCHOOL (PTY 
    22. Ikusasalethu Youth Development 
    23. Institute for the Advancement 
    24. Institutional Higher Education 
    25. IT Labs Consulting 
    26. Jeppe College of Commerce and 
    27. Johannesburg Institute of Engi 
    28. Korbicom (Pty) Ltd 
    29. Leseding Computer Systems 
    30. LUPHINDI BUSINESS SOLUTIONS 
    31. MBOWA COLLEGE PTY LTD 
    32. Media Village Training 
    33. Metanoia Ratings PTY LTD 
    34. Movietech Film and Television College 
    35. Musengavhadzimu Media 
    36. MVM Multimedia 
    37. Nyathela Business College 
    38. OL Afrika Media 
    39. OPELONG BUSINESS INSTITUTE (PT 
    40. Peo Entle HIV Wellness Management and Youth Skills Development NPO 
    41. Petcon Capacity Building Solut 
    42. PHUTHUMA TEL PTY LTD 
    43. Pracical Audio Solution 
    44. PRX SCHOOL TEST 
    45. QUALITATIVE INNOVATIVE SOLUTIONS 
    46. QUARPHIX (PTY) LTD 
    47. Richfield Graduate Institute of Technology Pty Ltd 
    48. SA College of Technology (PTY) 
    49. Sage South Africa 
    50. South African Business and Tec 
    51. SOUTH AFRICAN CORPORATE TRAINI 
    52. Southern Africa Youth Project 
    53. The Camera Academy 
    54. The Media Workshop 
    55. The Open Window (Pty) Ltd 
    56. Thubelihle Graduate Institute 
    57. Tinotel Communications 
    58. Training for Results (Pty) Ltd 
    59. Varsity Institute of Science & Technology (Pty)Ltd 
    60. Visionary Skill Academy 
    61. VUTHLARI MARKETING CONSULTING 
    62. Whitestone College 
    63. Youth Media Movement 
    64. ZA WIT (PTY) LTD 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.