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Maintain Financial Records (BSBFIN301) focuses on the skills and knowledge required to effectively manage daily financial records, including tasks such as reconciling systems for debtors and creditors, preparing and maintaining a general ledger, and ensuring cash control for accounting purposes. The unit is applicable to Certificate III in Business students employed in various work environments, where they have the responsibility for handling basic accounting functions within an organization. They may work as individuals providing administrative support or may be other staff members with delegated responsibilities related to maintaining general financial records. The Learner Resource for this unit is divided into three elements:

  1. Preparing journals for posting to the general ledger
  2. Posting journal entries and reconciling discrepancies
  3. Maintaining the general ledger

Upon completing the training, you will be required to undertake an assessment pack for this competency unit. To assess your competence or performance, you will need the support of a supervisor, manager, or assessor who can observe your execution of project or workplace tasks and verify your competency. Successful completion of the assessment indicates that you have demonstrated the necessary skills and knowledge to maintain financial records effectively.

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