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Accounts Receivable Specialist Certification (Exam Cost Included)

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Accounts Receivable Specialist Certification (Exam Cost Included)

The Accounts Receivable Specialist Certification Program explains the principles, policies, processes, and practices necessary for efficient and effective accounts receivable that meet an organization’s goals: supporting sales, cash flow, and customer service while protecting the organization’s money.

$1,399.00 (USD)

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schedule
                                40 Course Hrs
                            

                                Code
                                    GES2184
                            
calendar_today
                                3 Months
                            
grid_onOpen enrollment
speedSelf paced

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Overview

Staffing trends and continued organizational demand will continue to drive the need for highly trained accounts receivable professionals. The U.S. Bureau of Labor Statistics projects nearly 175,000 annual job openings for bookkeeping, accounting, and auditing clerks, which includes some accounts receivable roles, through 2033. Cash management is a top concern for financial operations teams and their CFOs concerned with whether enough funds are available to meet the business’s needs, the customer experience when dealing with the company, protecting the company’s cash from fraud, and the cost of performing these processes. An accounts receivable specialist is a key strategic role player in managing the organization’s cash flow, from setting customers’ credit terms to collecting payments.

This accounts receivable certification program is designed to equip you with the skills necessary to execute the accounts receivable specialist function, including internal controls, the P2P process of your customers, regulatory compliance, as well as best practices for customer master file, cash application, collections, and credit management.

Upon completing the accounts receivable training, you will be prepared to take a 90-minute, 100-question multiple-choice exam to demonstrate your ability to manage the accounts receivable process and earn the Accredited Receivables Specialist (ARS) designation from the Institute of Finance and Management (IOFM).

Objective

Outline

Internal Controls
1. Introduction
2. What Are Internal Controls?
3. Control Environment
4. Risk Assessment
5. Control Activities
6. Accounts receivable Internal Controls
7. Policies and Procedures (P&P)
8. Audit and Key Terms
9. Fraud
10. Consequences of Inadequate Internal Controls
Understanding Your B2b Customer’s Procure to Pay Process (P2P)
1. Introduction
2. Non-PO Purchases
3. PO Purchases
4. The Perfect Invoice
5. DSO And DPO 33
6. Sending Statements of Past Due Invoices
7. AP And Procure-To-Pay Best Practices
8. Conclusion
Customer Master File
1. Introduction
2. Ownership
3. Customer File Documentation
4. Verifying Customer Data
5. Updating the Customer Master File
6. Entering and Securing CMF Data
7. Cycle Time
8. Conclusion
Credit Management
1. Introduction
2. Credit Management
3. Policy and Procedures (P&P) for the Credit Manager
4. New Customer Credit
5. Credit Application
6. Assigning A Credit Line
7. Relationship Between Credit and Sales
8. Resources for Credit Managers and The Customer Master File
9. Financial Statement Analysis
10. Internal Credit Score
11. Terms and Payment Methods
12. New Customer Acceptance Letter
13. Credit and Existing Customers
14. Metrics
15. Best Practice Summary
Cash Application, Deductions, and Dispute Management
1. Introduction
2. Payment Types and Methods
3. International Payments
4. Cash Application
5. Dispute Management
6. Best Practices
7. Conclusion
Collections
1. Introduction
2. Collections Prioritization
3. Collection Technology
4. Collections Staff
5. Collection Methods
6. Additional Practices and Tools
7. Compliance
8. Bankruptcy
9. Best Practice
10. Conclusion
Accounting, Records, and Associated Regulations
1. Introduction
2. Accounting Definitions
3. Financial Reporting and Account Standards
4. General Ledger
5. Month-End Close
6. Financial Statements
7. Auditing—Internal and External
8. Record Retention/Destruction
9. Other Regulations
10. Unclaimed Property/Escheatment
11. Conclusion

Requirements

Prerequisites

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FAQs

What is the average salary for an accounts receivable specialist?

According to Glassdoor, the median salary for an accounts receivable specialist is $58,000, while the median salary for an accounts receivable manager is $79,000. As technology changes the landscape of financial operations and companies seek to optimize cash flow, skilled accounts receivable professionals can leverage in-demand technical and strategic skills to increase their compensation.

What does an accounts receivable specialist do?

An accounts receivable specialist manages the money owed to a company by its customers. They ensure timely payment of invoices, maintain accurate financial records, and resolve any payment discrepancies. Essentially, they handle the bookkeeping and accounting related to incoming payments.

Does this course prepare you for a certification?

Yes. Upon successful completion of the course and final exam, you will earn the Accounts Receivable Specialist designation.

How long does it take to complete this course?

After you register, you will receive 3 months to complete the course. The time allotted for completion has been calculated based on the number of course hours.

When can I start this course?

This course is open enrollment, so you can register and start the course whenever you are ready. Access to your course can take 24-48 business hours.

What if I don't have enough time to complete the course within the time frame provided?

The time allotted for course completion has been calculated based on the number of course hours. However, if you are unable to complete the course, contact the student advising team to see what options you may have available to work out a suitable completion date. Please note that an extension fee may be charged.

What kind of support will I receive?

Our courses are designed to accommodate various learning preferences. Depending on the course structure, you may get different forms of support. Self-paced courses are designed to be user-friendly and independent, minimizing the need for external support. In courses with instructors, our direct platform support feature includes opportunities for questions, discussions, and remediation, with email and phone support available for select courses. Our student advising team is available to guide you on program requirements and administrative requests, but they do not provide assistance with course content. Our goal is to provide you with the necessary support for success, whether it's through self-paced exploration, direct communication, or guidance from our advising team.

What happens when I complete the course?

Upon successfully passing the final exam, you will be awarded a certificate of completion from the school or organization that you registered through.

Am I guaranteed a job?

ed2go courses will help you gain the skills you need to obtain an entry-level position in most cases. However, you should always research the job market in your area before enrolling.

Can I get financial assistance?

ed2go courses are non-credit, so they do not qualify for federal aid, FAFSA, and Pell Grant. In some states, vocational rehab or workforce development boards may provide funding to take our courses. Additionally, you may qualify for financial assistance if you meet certain requirements. Learn more about financial assistance.

How can I get more information about this course?

If you have questions that are not answered on our website, representatives are available via LIVE chat. You can also call us at 1-877-221-5151 during regular business hours to have your questions promptly answered. If you are visiting us during non-business hours, please send us a question using the “Contact Us.”

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