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: 

Take on a business' debtor's book in full 
SAQA US ID UNIT STANDARD TITLE
12747  Take on a business' debtor's book in full 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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  12 
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 intended for individuals in an operational factoring role.

Persons credited with this unit standard will be able to demonstrate knowledge and understanding of the take-on policies and procedures, set up the factoring records, set up the internal risk management procedures and balance the debtor's book. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open. 

UNIT STANDARD RANGE 
Initial take-on of full/ disclosed factoring or forced disclosure as a result of liquidation. Evidence of competence for one or the other is required. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Demonstrate knowledge and understanding of the take-on policies and Procedures 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.The practices and procedures associated with take-on of a full debtor's book are explained with the use of examples in line with factoring policy and procedure. 

ASSESSMENT CRITERION 2 
2.The conditions surrounding a forced take-on of a debtor's book are explained according to the factoring policy and procedure. 

ASSESSMENT CRITERION 3 
3.The implications to procedure of a forced take-on of a debtor's book are explained according to the factoring policy and procedure. 

ASSESSMENT CRITERION 4 
4.The risks associated with full take-on of a debtor's book are identified and explained according to the factoring policy and procedure. 

ASSESSMENT CRITERION 5 
5.The risks associated with forced take-on of a debtor's book are identified and explained according to the factoring policy and procedure. 

ASSESSMENT CRITERION 6 
6.The charges and fees associated with a full take-on of a debtor's book are explained according to the factoring policy and procedure. 

SPECIFIC OUTCOME 2 
Set up factoring records. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.The procedure for creating a supplier record is understood and explained according to the factoring house's computer system requirements. 
ASSESSMENT CRITERION RANGE 
Access to capture system, opening a record, correcting mistakes, processing and capturing rules, and procedures, and finally the information required in the supplier's record. Evidence of competence across the entire range is required.
 

ASSESSMENT CRITERION 2 
2.The supplier record is created and the supplier details are captured accurately in line with the system requirements. 

ASSESSMENT CRITERION 3 
3.The procedure for creating a debtors book on the factoring system is understood and explained according to the factoring house's computer system requirements. 
ASSESSMENT CRITERION RANGE 
Access to capture system, opening a record, correcting mistakes, processing and capturing rules, and procedures. Evidence of competence across the entire range is required.
 

ASSESSMENT CRITERION 4 
4.The debtor's book is recreated on the factoring system according to the debtor's age analysis and in line with factoring policy and procedure. 

ASSESSMENT CRITERION 5 
5.Debtor contact details are recorded and verified in the manner required by the factoring house. 
ASSESSMENT CRITERION RANGE 
Telephone numbers, contact names, physical address, addresses to send statements. Evidence of competence across the full range is required.
 

SPECIFIC OUTCOME 3 
Set up the internal risk management procedures. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.An overall factoring trading limit is assigned to the supplier record in line with factoring house's credit policy and procedure. 

ASSESSMENT CRITERION 2 
2.Credit rating of individual debtors is obtained in the manner required by the factoring house according to credit policy and procedure. 

ASSESSMENT CRITERION 3 
3.A trading limit for each individual debtor is calculated in the manner required by the factoring house according to credit policy and procedure. 

ASSESSMENT CRITERION 4 
4.The validity of the reconciled data is confirmed, by comparing reconciliation against details on the debtor age analysis. 

ASSESSMENT CRITERION 5 
5.A credit risk rating is captured for each debtor in line with the factoring house's specific credit policy and procedure. 

ASSESSMENT CRITERION 6 
6.An internal control, trading limit is captured for each debtor in line with the factoring houses's specific credit policy and procedure. 

SPECIFIC OUTCOME 4 
Balance the debtors ledger. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.Each debtor account is manually reconciled in line with the company's standard procedure. 
ASSESSMENT CRITERION RANGE 
Invoices, credit notes, journal entries, and payments. Evidence of competence across the entire range is required.
 

ASSESSMENT CRITERION 2 
2.Records of debtor's ledger and all associated accounts are obtained and verified against original ledger in line with the company's standard procedure. 

ASSESSMENT CRITERION 3 
3.Captured details are balanced back to the manual reconciliation to ensure accuracy. 

ASSESSMENT CRITERION 4 
4.Any errors are corrected in line with the company's standard procedures. 

ASSESSMENT CRITERION 5 
5.A statement of the debtor record is sent to the debtor for final verification according to company policy and procedure. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1.Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
2.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.
3.Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore, anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution that is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • General knowledge of the factoring industry.
  • Operating and computer systems knowledge sufficient to locate the necessary information and complete the task/function.
  • General understanding of the specific risks and relevant policies relating to processing factoring transaction. 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    To identify and solve problems when manually reconciling each debtor's account and the debtors book overall. 

    UNIT STANDARD CCFO ORGANISING 
    To organise and manage oneself and one's activities responsibly and effectively when setting up the internal risk management procedures to manage the debtors book from a factoring perspective. 

    UNIT STANDARD CCFO SCIENCE 
    To use technology effectively when creating both supplier and debtor records on the factoring system. 

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

    UNIT STANDARD NOTES 
    Legal Requirements

    All procedures must meet recognised codes of practice as well as obligations required by current legislation within South Africa and within the normal parameters of the defined job/task.

    Terminology
  • Full take-on - A term used to refer to the procedure of recording details of a suppliers' entire debtor's book in the records of the factoring house.
  • Supplier - A term used in factoring to refer to the party who supplies the invoices for discounting. The term is used to distinguish this party from the terms used for debtors and creditors.
  • Offer - a term used to refer to the invoices presented to a factoring house for discounting
  • Debtor's age analysis - a report reflecting the length of time debts have been outstanding (expressed in the following terms current i.e. within 30 days of invoice; 30 days after invoice; 60 days after invoice; 90 days after invoice; 120 days after invoice and 120 plus). 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Reregistered  2023-06-30  BANKSETA 
    Elective  49021   Further Education and Training Certificate: Debt Recovery  Level 4  NQF Level 04  Reregistered  2023-06-30  FASSET 


    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. Absa Learning & Development 
    2. Bidvest Bank 
    3. Chartall Business College 
    4. Compuscan Academy 
    5. Cornerstone Performance Solutions (Pty) Ltd 
    6. Felix Risk Training Consultants 
    7. Nedbank Ltd 
    8. OnTrack Learning Solutions CC 
    9. Standard Bank Personal and Business Banking 
    10. The Facilitation Workshop 



    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.