Overview

This standard is about administering payments from floats and petty cash on a production. You will need to get approval for the expenditure, and also be involved with preparing and presenting reports about this. You will also be required to report any variations from agreed expenditure and produce both routine and exception reports. 

 

Performance criteria

You must be able to:

  1. obtain authorisation for expenditure from people who can approve it when required
  2. Keep and maintain information and receipts for authorised expenditure
  3. report any significant variations to the person controlling expenditure in line with production policy
  4. Stamp all individual receipts as paid to avoid re-submission
  5. Collect cash from the bank as required
  6. Maintain approved level of cards and floats, checking daily floats, requests and reconciliations that may be received
  7. Deal with repayment of crew expenses and topping up purchase cards
  8. Deal with lost receipts, cards or cash
  9. Conduct reconciliations of petty cash in line with production requirements
  10. Produce and present reports in the required format and at the required time

 

Knowledge Criteria

You need to know and understand:

  1. The different types of expenditure such as equipment, materials and facilities
  2. The procedures for keeping receipts
  3. Production requirements for recording and storing information about expenditure
  4. Production processes for informing people about variations from budget
  5. How to assemble and present financial reports
  6. Methods for summarising, recording and communicating decisions
  7. How to assess petty cash vouchers for potential fraud
  8. Which expenses cannot be paid in cash to avoid tax / VAT issues
  9. Why it is important to monitor actual expenditure against agreed expenditure
  10. When expenditure requires additional authorisation and who should give this
  11. What constitutes a significant variation from agreed expenditure and who needs to know about variations
  12. What reports are needed, the information to include in reports and who to give it to