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: 

Compile reconciliation statements 
SAQA US ID UNIT STANDARD TITLE
117425  Compile reconciliation statements 
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  6 
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 
On completion of this unit standard learners will be able to compile bank reconciliation and a basic creditors and debtors reconciliation statement. 

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 
    Compare receipts and payments to the bank statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The credits on the bank statement are compared with the bank column of the cash receipts journal or cash book and the differences identified and recorded in the cash receipts journal or cash book. 

    ASSESSMENT CRITERION 2 
    The debits on the bank statement are compared with the bank column of the cash payments journal or cash book and differences are correctly identified and recorded in the cash payments journal or cash book. 

    ASSESSMENT CRITERION 3 
    The journals are posted to the bank account and balanced, or balance the cash book 

    ASSESSMENT CRITERION 4 
    The cash book is balanced or the journals are posted to the bank account and balanced. 

    SPECIFIC OUTCOME 2 
    Compile the bank reconciliation statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The closing balance on the current month's bank statement is correctly entered in the current month's bank reconciliation statement 

    ASSESSMENT CRITERION 2 
    The outstanding or reconciling items appearing on the previous months reconciliation statement are cleared or carried forward to the current months reconciliation statement. 

    ASSESSMENT CRITERION 3 
    Amounts in the cash receipts journal or cash book that do not appear on the bank statement are entered in the bank reconciliation statement. 

    ASSESSMENT CRITERION 4 
    Amounts in the cash payments journal or cash book but not on the bank statement are entered in the bank reconciliation statement. 

    ASSESSMENT CRITERION 5 
    The total of the bank reconciliation statement is in agreement with the bank balance in the books of the business. 

    ASSESSMENT CRITERION 6 
    The monthly reconciliation statement is interpreted and outstanding items are investigated in order to highlight potential penalties or unresolved issues. 

    SPECIFIC OUTCOME 3 
    Compile a basic Debtors and Creditors Reconciliation Statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Compile a list of balances of outstanding debtors from the debtors ledger 

    ASSESSMENT CRITERION 2 
    Compare the debtors list to the debtors control account in the general ledger 

    ASSESSMENT CRITERION 3 
    Discrepancies identified are to be resolved or referred to the appropriate person 

    ASSESSMENT CRITERION 4 
    Compile a list of balances of outstanding creditors from the creditors ledger 

    ASSESSMENT CRITERION 5 
    Compare the creditors list to the creditors control account in the general ledger 

    ASSESSMENT CRITERION 6 
    Discrepancies identified are to be resolved or referred to the appropriate person 

    SPECIFIC OUTCOME 4 
    Compile a basic general ledger reconciliation statement. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    General ledger control accounts and balances are analysed and the transactions verified according to accounting policy 

    ASSESSMENT CRITERION 2 
    Discrepancies, misappropriations and errors are identified in the analysis process and resolved with reference to incorrect double entries, misallocations, missing entries or incorrect calculations 


    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.