Are you looking for employment in Accounts Payables and Receivables or considering starting your own Accounting side gig and wondering if Accounts Payables and Receivables can be self-taught?
We will cover topics relevant to teaching yourself Accounts Payables and Receivables in this post.
So, can Accounts Payables and Receivables be Self Taught with no prior experience?
Yes, Accounts Payables and Receivables can be self-taught with no prior experience; however, on-the-job training and basic mathematics and computer skills, as well as knowledge with spreadsheets and bookkeeping software, would be beneficial.
So what is Accounts payables and Receivables you ask!
In a nutshell, the Accounts Payable (AP) process completes the financial outgoings or outgoing payments of a firm by recording invoice data, coding invoices with the applicable account and cost centre, authorising invoices, matching invoices to purchase orders, and posting payments.
In contrast, Accounts Receivable (AR) is the amount owed to a company for products or services provided or utilised but not yet paid for by consumers.
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How to learn Accounts Payable and Recievables without prior training?
Accounts Payables and Receivables are best learned through credible online training or courses, as well as on-the-job training. Payables and Receivables is not hard to learn so long as you are comfortable with computer software.
To be self-taught in Accounts Payables and Receivables there is plenty of free accessible material online available to learn bookkeeping without the need to get a college degree.
1. Financial Accounting Fundamentals
Rating 4.8 Stars
Beginner Level
106,318 already enrolled
This Coursera course, offered by the University of Virginia’s Darden School of Business, is taught by top-ranked faculty and is designed specifically to help small businesses understand their finances.
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Coursera is an education platform founded in 2012 by Andrew Ng and Daphne Koller, both computer science professors at Stanford, with all courses taught by experienced professionals from top universities or companies.
This course is ideal for those starting up or wanting to run Bookkeeping for small businesses.
Financial Accounting Fundamentals teaches you how to perform bookkeeping but also how to prepare, read and understand financial statements.
This enables students to be able to draw basic conclusions about a company’s financial health.
This is a 14-hour video course with quizzes at the end of each section to test your knowledge.
You can complete everything on your own time, and you don’t need any prior accounting experience.
The class is taught by Luann J. Lynch, a professor of business administration at Darden with an MBA from Duke University and a PhD from the University of North Carolina.
You can get academic and technical support through the Coursera support team or the Coursera community
2 Intuit Bookkeeping Professional Certificate
Rating 4.4 Stars
Beginner Level
6,613 already enrolled
In this Coursera course, students will learn the basic bookkeeping concepts and accounting measurements.
You’ll gain a foundational understanding of accounting principles and an introduction to QuickBooks Online through hands-on practice working with real-world accounting scenarios.
After completing the course, you will be prepared to take the Intuit Certified Bookkeeping Professional exam. With successful completion, if the exam, be qualified to apply for a position as a bookkeeper.
| Pros | Cons |
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Coursera is an education platform founded in 2012 by Andrew Ng and Daphne Koller, both computer science professors at Stanford, with all courses taught by experienced professionals from top universities or companies.
This course is ideal for those wanting to launch their career in bookkeeping and gain the professional skills you need to succeed in the bookkeeping field. No degree or prior experience is required.
A comprehensive 4-month course (suggested pace of 4 hours/week), you will come out fully equipped to perform Bookkeeping.
This is a 14-hour video course with quizzes at the end of each section to test your knowledge. You can complete everything on your own time, and you don’t need any prior accounting experience.
The class is taught by Intuit who is a global technology firm that creates financial software for consumers including those who are self-employed and own small businesses.
You can get academic and technical support through the Coursera support team or the Coursera community
3. Intuit Bookkeeping Basics
Rating 4.5 Stars
Beginner Level
8,393 already enrolled
In this Coursera course, you will be introduced to the role of a Bookkeeper and learn what Bookkeeping professionals do every day.
| Pros | Cons |
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Coursera is an education platform founded in 2012 by Andrew Ng and Daphne Koller, both computer science professors at Stanford, with all courses taught by experienced professionals from top universities or companies.
This course is ideal for those seeking an understanding of what Bookkeeping is all about.
Including an introduction to the role of a bookkeeper and gain an understanding of how to use the accounting equation and double-entry accounting.
This is a 16-hour video course with quizzes at the end of each section to test your knowledge.
The good news, you can complete everything on your own time, and you don’t need any prior accounting experience.
You can get academic and technical support through the Coursera support team or the Coursera community
Accounts Payables and Receivables, how much do they earn?
According to BLS.gov the median annual wage for bookkeeping, accounting, and auditing clerks was $42,410 in May 2020.
The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $27,050, and the highest 10 percent earned more than $63,900.
Final Thoughts
Yes, Accounts Payable and Receivables can be self-taught with no prior experience; however, on-the-job training and basic mathematics and computer abilities, as well as understanding of spreadsheets and accounting software, would be advantageous.
Learning Accounts Payables and Receivables is best accomplished through reliable online training or courses, as well as on-the-job training. Payables and receivables are simple to understand if you are familiar with computer applications.
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- Bookkeeping: 9 Things You Should Know (Explained)
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- Why Is It So Difficult Trying To Land A Bookkeeping Job?
References
- Bookkeeping, Accounting, and Auditing Clerks : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics (bls.gov)
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