Bookkeeping and accounts payable are critical functions in today's workplace, keeping a business' financial records straight and vendors satisfied. Wake Tech offers both online and in-person courses where you can learn how to handle these functions and advance in your career.
The speed at which organizations do business has amplified the need for qualified accounts payable managers who can streamline financial operations. If you want to advance your career within an accounts payable department, you need to become a certified Accounts Payable Manager (APM). This 100% online training course, which you can start and complete at any time, will prepare you for the APM certification exam in just three months.
The U.S. Bureau of Labor statistics estimates an 11% job growth for accounts payable managers – about 14,000 job openings per year over the next five years. According to global staffing firm Robert Half, the current median annual salary for accounts payable managers is just under $64,000.
Meanwhile, accounts payable specialists perform a vital function by making sure bills and commitments are paid on time, accurately and completely. This 100% online course, which can be started and completed at any time, will teach you the concepts, requirements and procedures for handling accounts payable. By course completion, you will be fully prepared to pass the Accounts Payable Specialist certification, offered by the Institute of Finance & Management.
According to PayScale.com, accounts payable specialists earn between $15 and $24 per hour, depending on experience and industry. Including common bonus and profit-sharing programs, annual incomes range from $31,715 to $53,847.
The U.S. Bureau of Labor Statistics indicates that there are almost 2 million accounting and bookkeeping specialists in the labor force. That demonstrates that the overall demand for well-trained professionals is significant. Because many organizations manage their accounting online, accounts payable specialists have strong opportunities for remote, work-from-home, contract and temporary positions.
Corporations and local organizations need qualified bookkeepers, who track all financial transactions: sales, purchases, payments, wages, depreciation, inventory, internal controls and fraud protection.
According to ONET, bookkeepers earn $19.78 per hour, on average. Top bookkeepers' earnings can exceed $60,140 a year.
Three of the top specialized skills found in job postings include accounting, accounts payable/receivable and bookkeeping. The fourth skill requested is QuickBooks®, an accounting software that expands the capabilities of bookkeepers.
QuickBooks® training is included in two short-term training courses at Wake Tech: Intuit QuickBooks Certified User Online and Certified Bookkeeper AIPB Using Intuit QuickBooks Online. Together, they can prepare you for the American Institute of Professional Bookkeepers (AIPB) Certified Bookkeeper certification exam.
For more information, email [email protected].
Workforce Development offers financial assistance for many workforce training programs through the Propel program and other resources. Email [email protected] for more information.
Introduction:
• Discuss how to become a Certified Bookkeeper
• Identify bookkeeping employment opportunities
• Practice using Intuit QuickBooks Online
Mastering Adjusting Entries:
• Define accruals and deferrals
• Calculate and record adjusting entries for accrued revenue and expenses
• Calculate and record adjusting entries for deferred revenue and expenses
• Construct an adjusted trial balance, add the adjustments and complete the adjusted trial balance
Mastering Correction of Accounting Errors:
• Perform the monthly bank reconciliation and find and correct errors revealed by it
• Find and correct errors in the trial balance
• Find and correct accrual errors discovered before the books are closed
• Find incorrect deferral errors discovered before the books are closed
Mastering Payroll:
• Carry out the basic payroll function, including paying wages, withholding, depositing and reporting taxes, and preparing federal forms
• Explain basic reporting of wages and taxes for Forms 940, 941, 944, 945, W-2, W-3, and 1099
• Make journal entries for the payroll distribution, payroll-related expenses, payroll liabilities, and remittance of employer taxes
Mastering Inventory:
• Record inventory purchases and sales and determine the cost of goods sold and end inventory under the perpetual method
• Record inventory purchases and sales and determine the cost of goods sold and ending inventory under the periodic method
• Compute and record cost of goods sold and ending inventory using weighted-average and moving-average costing
• Compute and record cost of goods sold and ending inventory using first-in, first-out (FIFO) costing
• Compute and record cost of goods sold and ending inventory using last-in, first-out (LIFO) costing
• Compute and record changes in inventory under the lower of cost or net realization value (LCNRV) rule
Mastering Depreciation:
• Describe how qualifying assets are depreciated on the financial statements and tax return
• Depreciate for book purposes assets purchased at any time during the year under the straight-line, units of production, declining balance, and the sum of the years' digits methods
• Depreciate both listed assets and real estate for tax purposes
• Depreciate vehicles, including passenger automobiles, for tax purposes
Mastering Internal Controls and Fraud Prevention:
• Install basic internal controls, including segregation of duties, for preventing employee theft of inventory and other non-cash assets, signs of such theft, and the schemes that are used to steal
• Understand the basics of background checks on applicants to reduce the likelihood of hiring employees who still, how to ensure or bond employees who have access to company cash, and how to segregate duties to minimize the chance of employee fraud or theft of cash
• Install internal controls that prevent check fraud by employees or customers, how to spot counterfeit or altered checks, and the basics of check-fraud schemes
• Implement internal controls that prevent credit card fraud by customers and know how to spot counterfeit credit cards
• Establish controls that prevent vendors from cheating you
Introduction:
1. Becoming a Certified Bookkeeper by AIPB
2. Bookkeeping employment opportunities
3. Getting started using Intuit QuickBooks Online
Mastering Adjusting Entries:
1. Introduction
2. Why we use accruals, deferrals and other adjustments
3. Accrued revenue
4. Accrued expenses (accrued liabilities)
5. Revenue collected in advance (unearned revenue)
6. Prepaid (deferred) expenses
7. Other end-of-period entries
8. From unadjusted trial balance to financial statements
9. Applying your knowledge to the trial balance
10. Exam preparation
Mastering Correction of Accounting Errors:
1. Introduction
2. Where errors occur and how they are found
3. The bank reconciliation
4. Finding and correcting errors using the unadjusted trial balance
5. Correcting current period accrual errors
6. Correcting current period deferral errors
7. Exam preparation
Mastering Payroll:
1. Introduction
2. An important note about Covid-19 federal tax programs
3. Employees v. non-employees
4. Federal and state wage-hour law
5. Paying employees under federal law
6. Employment records and payroll recordkeeping
7. Employee data: form W-4 and state withholding allowance certificates
8. How employers withhold and deposit federal taxes
9. Federal employment reporting forms and due dates
10. When wages become taxable
11. Other reporting rules
12. Payroll entries
13. Exam preparation
Mastering Inventory:
1. Introduction
2. Introduction to accounting for inventory
3. Inventory recordkeeping using the perpetual method
4. Inventory recordkeeping using the periodic method
5. Inventory costing: The weighted-average and moving-average methods
6. Inventory costing using the FIFO method
7. Inventory costing using the LIFO method
8. Inventory costing using the lower of cost or net realizable value rule
9. Exam preparation
Mastering Depreciation:
1. Introduction
2. Depreciation on the financial statements v. tax return
3. Depreciation under GAAP
4. The straight-line method of depreciation
5. The units of production method of depreciation
6. The declining balance method of depreciation
7. The sum of the years' digits method of depreciation
8. Depreciation under federal income tax depreciation rules
9. Tax depreciation of vehicles
10. Exam preparation
Mastering Internal Controls and Fraud Prevention:
1. Introduction
2. How dishonest employees steal inventory
3. How to prevent or spot employee theft
4. Check fraud
5. Credit card fraud
6. How vendors cheat you
7. Computer and Internet fraud
8. Forms, patterns, and red flags of bribery
9. Operations that support frauds and scams
10. Exam preparation
96
1
The American Institute of Professional Bookkeepers (AIPB)
No
Prior to course enrollment, students should have foundational bookkeeping or accounting skills or knowledge in alignment with the Bookkeeping: Intuit QuickBooks Certified User Online course.
None
None
90% attendance"Demonstrate an understanding of at least 70% of the course material taught."
N/A
Individuals who want to expand their knowledge and skills in bookkeeping or accounting and those who want to successfully prepare for the relevant industry certification exam(s).
Bookkeeper, Accounting, Office Assistant, Administrative Assistant, Freelancing
According to Burning Glass Technologies, Wake County has a high demand for bookkeeping skills.
Bookkeeper
Accounting
Office Assistant
Administrative Assistant
Freelancing
HRD-3004BI2
ACC-3150BE
ACC-3150F2
SEF-3001BMG
SEF-3001GH1
SEF-77282
SEF-7994CL
SEF-8479CL
Joy Curry
919-866-5370
[email protected]
To be notified when this course becomes available, please use
Wake Tech's Notify Me service.
While a certification is not required to work as an accounts payable manager, the Accounts Payable Manager Certification from the Institute of Finance and Management is the gold standard of in the sector. This certification is highly recognized and held by more than 25,000 accounts payable professionals the private, public and nonprofit sectors.
Accounts payable managers oversee all payable operations for an organization, such as ensuring ledger maintenance, analyzing and reporting on forecasts, training and mentoring accounts receivable and accounts payable clerks, investigating non-payment situations and negotiating resolution terms and implementing operational improvements. This certification demonstrates that you understand the best practices needed to succeed in this high profile role, as well as your commitment to accuracy and compliance.
Yes. This Accounts Payable Manager Certification training course will prepare you for the Institute of Finance and Management exam. An exam voucher may be provided as part of the course to sit for the exam upon eligibility.
When companies purchase goods, services or commodities online, they incur obligations to repay their vendors and providers under specific circumstances. Those obligations are recorded as "accounts payable." Organizing, managing and repaying those accounts keeps an organization on good terms with its creditors and may influence its ability to borrow. Accounts payable specialists may also participate in the organization's cash management procedures.
Certification marks an employee or job prospect as one who values and practices high professional standards. While formal degrees may be helpful for accounting and bookkeeping positions, excellent certifications signal a candidate's capability, often at a much lower cost.
Institute of Finance & Management certifications are considered the gold standard for practical accounting and bookkeeping jobs. Holders of the Accounts Payable Specialist certification are recognized for their accuracy, timeliness and attention to detail in accounts payable processing.
Accounts payable specialists may also be known as accounts payable clerks, accounts payable managers, accounts payable accountants, director of accounts payable or many other titles.