Accounts Payable/Receivable
Certificate III in Financial Services (Accounts Clerical) FNS30304
Business, Education & Industry

Job opportunities in the financial services industry have never been greater! The financial services industry is booming. It offers a stable future, a financially rewarding career (that can increase dramatically depending on the pathway you choose), and there are jobs all around Australia.

You can always find work if you have good accounting skills behind you. Also, the exponential growth of business throughout the world has increased the demand for employees, both full-time and part-time, in the financial services area.
Financial services is a broad area and it is one of the most lucrative areas in business. Many people in the financial world command six figure salaries and upwards. These people are not geniuses; they simply chose a money-oriented field to work in. You can set your future up too. Or, if you are a mature person or returning to the workforce, the financial arena is open to re-skilled staff and is brimming with job vacancies. What’s more, you have choices.

In the Accounts Payable/Receivable Course you can start from scratch or pull together existing knowledge so that you become a complete financial package employers will want for their business. You become a highly important cog that keep the wheels of commerce running.

The course introduces you to the financial services environment, setting you up for the diverse company cultures you are likely to encounter. Plus, in a really practical and stimulating way it teaches you how to deal with workplace procedures, financal systems and equipment by applying highly useful techniques.

You will also learn about payable and receivable accounts, how to create simple accounting spreadsheets, prepare bank receipts, operate a computerised accounting system and even put together financial reports.

Step-by-step you will be taken through new or familiar technology that will soon have you administering accounts and taking logical steps to sort out financial problems.

You will quickly develop real skills that apply to the workplace. Plus, you will enjoy our unique blended learning approach.

Career opportunities include: Accounts Payable, Accounts Receivable, Accounts Assistant, Accounts Officer/Clerk, Collections Officer, Credit Officer, Accounts Administrator.

Industries include: You can work in or for any type of industry, from a bank to a travel agency to real estate agent.

What is the difference between Accounts Payable and Accounts Receivable?

Accounts payble is where you process the accounts that need to be paid to suppliers. For instance, if you are working for a printing company and the printing company orders paper then the paper supplier will send an invoice to the printing company to be paid. As far as the printing company is concerned this is an account that is payable to the paper company. So you would be doing accounts payable for the printing company.

On the other hand, if you were working for the paper company you would be expecting to receive payment for the paper you supplied to the printing company. Therefore, you would be doing accounts receivable.

The same applies in reverse. The printing company will have accounts receivable (payments coming in from their clients) in response to invoices the printing company sent out; and the paper company will have accounts payable (money they owe to their suppliers).

When you phone a company, such as the phone company, and they ask you if you want "accounts payable or receivable" they mean their accounts payable or receivable (not yours). If they are phoning you about an account then it is your accounts payable or reveivable.

Accounts Payable/Receivable duties may include:

• processing accounts to be paid to suppliers and/or payment to be received by clients
• preparing order forms
• preparing invoices
• reconciling invoices
• doing customer credit checks
• reconciling accounts
• telephoning customers

Accounts Clerks/Assistants usually work under the supervision of an accountant. Most of their client contact is by telephone. Accounts Clerks/Assistants record and put together the documentation for the financial transactions of an organisation for management purposes. Accounts clerks/assistants may do any of the following:

• receive and record invoices and arrange payment
• prepare and send invoices to debtors
• check and process loan applications
• calculate and distribute wages and salaries
• prepare regular reports and summaries of accounting activities
• prepare financial statements and debtors' listings
• check customers' credit ratings
• verify recorded transactions and report irregularities to management
• prepare reconciliations of accounts.