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 THAT HAS PASSED THE END DATE: 

Understand the Petty Cash system 
SAQA US ID UNIT STANDARD TITLE
117418  Understand the Petty Cash system 
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 3  NQF Level 03  3 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "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 
Learners credited with this unit standard will be able to maintain and record the petty cash of an organisation. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Accounting NQF level 2
  • Communication at NQF Level 2
  • Mathematical Literacy at NQF Level 2 
    		•

    UNIT STANDARD RANGE 
    A person may exhibit this competence in the private and/ or the public sector. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Disburse money for Petty Cash transactions. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Source documents are identified correctly 

    ASSESSMENT CRITERION 2 
    Request for Petty Cash is received, validated and authorised according to company policy 

    ASSESSMENT CRITERION 3 
    Cash is issued as per authorised request 

    ASSESSMENT CRITERION 4 
    Cash slip and change received is reconciled accurately 

    ASSESSMENT CRITERION 5 
    Petty Cash voucher is completed and till slip is attached in accordance with purchases made 

    SPECIFIC OUTCOME 2 
    Recording Petty Cash transactions. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The Petty Cash vouchers are numbered in sequence according to company policy 

    ASSESSMENT CRITERION 2 
    Petty Cash vouchers are correctly recorded in the Petty Cash Book or Petty Cash Journal 

    ASSESSMENT CRITERION 3 
    Petty Cash analysis columns are totalled accurately 

    ASSESSMENT CRITERION 4 
    Petty cash vouchers are correctly filed according to company policy 

    SPECIFIC OUTCOME 3 
    Restore imprest amount. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The amount of the Petty Cash float is indicated as required by company 

    ASSESSMENT CRITERION 2 
    Amount required to restore imprest amount is calculated correctly 

    ASSESSMENT CRITERION 3 
    Money in cash box is reconciled with Petty Cash Book balance 

    ASSESSMENT CRITERION 4 
    Amount required is requested according to required coins and notes 

    ASSESSMENT CRITERION 5 
    Coins and notes received is counted and placed in cash box 

    SPECIFIC OUTCOME 4 
    Control Procedures for Petty Cash are adhered to. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Petty Cash float is secured according to company policy 

    ASSESSMENT CRITERION 2 
    The Petty Cash float is regularly reconciled with Petty Cash Book 

    ASSESSMENT CRITERION 3 
    Discrepancies are investigated and corrected within a reasonable period of time 

    ASSESSMENT CRITERION 4 
    Discrepancies arising from the reconciliation of Petty Cash are either resolved or referred to the appropriate person 


    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 
    Be culturally and aesthetically sensitive across a range of social contexts 

    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 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  58375   National Certificate: Bookkeeping  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  FASSET 
    Elective  49089   National Certificate: Financial Services  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 


    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.
     
    NONE 


    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.