Steps to Ensure Validity of Cheque and Credit Card Transactions

FINANCIAL TRANSACTIONS
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UNIVERSITY NAME
STUDENT NAME
STUDENT ID
COURSE
DATE

FINANCIAL TRANSACTIONS
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EXECUTIVE SUMMARY
The purpose of this report is to discuss the steps that are necessary to ensure the validity of a
cheque received from the customer, key contents of a credit card, what to obtain from the
customer when carrying out the processing of credit not present transaction, what to get from the
customer when taking credit card order via email or a fax, what elicit worry when accepting
payment via card-not-present transactions before the delivery of goods or services, basic control
characteristics in a visa card, precautions in cash transactions.it also explain what an Australian
accounting standards are and basic overview of financial code of practice.

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Table of Contents
INTRODUCTION...........................................................................................................................4
5). STEPS UNDERTAKEN TO CHECK THE VALIDITY OF THE CHECK.............................4
6).WHAT TO CHECK WHEN ACCEPTING CREDIT CARD IN PERSON...............................4
7).REQUIRMENTS TO PROCESS PAYMENTS VIA CREDIT CARD......................................4
REQUIRMENTS WHEN MAKING ORDER THROUGH EMAIL/FAX.....................................5
ADDITIONAL INFORMATION TO CHECK BEFORE MAKING DELIVERIES ON CREDIT
ORDERS..........................................................................................................................................5
SUSPICIONS IN CARD NOT PRESENT TRANSACTIONS......................................................5
SAFETY FEATURES FOUND ON A CREDIT CARD INCLUDE:............................................6
SAFETY PROCEDURES FOLLOWED WHEN HANDLING CASH.........................................6
AUSTRALIANS ACCOUNTING STANDARDS.........................................................................6
PRIVACY ACT...............................................................................................................................6
WHS ACT.......................................................................................................................................7
STAMP DUTIES ACT....................................................................................................................7
TAXATION ACT............................................................................................................................7
COMPETITION AND CONSUMER ACT....................................................................................7
POINTS NORMALLY OUTLINED IN FINANCIAL CODE OF PRACTICE ARE:..................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9