How to Become an Accounts Payable Clerk?
Your path to becoming an Accounts payable clerk: step-by-step guide to launching your finance career
In this Career Outline
Introduction to Accounts Payable Clerk
"Success as an Accounts Payable Clerk hinges on your attention to detail, your dedication to accuracy, and your commitment to learning the intricacies of financial systems." — John Smith
The accounts payable meaning is that they ensure timely payment of company bills, verifying accuracy in invoicing. They handle invoice processing, obtaining approvals as needed, and demonstrating proficiency in accounting and budgeting. Usually employed in accounting firms or organizational departments, they manage various accounts payable tasks like data entry, customer inquiries, and financial statement preparation with precision.
Maintaining accuracy is paramount, while also striving for process improvements endorsed by employers.
Adherence to company procedures, guidelines, and GAAP is essential. In essence, accounts payable clerks facilitate efficient financial operations by managing payments meticulously, ensuring fiscal responsibility.
Steps to Become an Accounts Payable Clerk:
Step-1
Obtain a high school diploma or GED; you might also consider pursuing an associate's degree in accounting or finance.
Step-2
Focus on attention to detail, mathematical proficiency, organizational abilities, communication, and technical skills with accounting software.
Step-3
Start with entry-level positions or internships in accounting or administrative roles.
Step-4
Obtain certifications like Certified Accounts Payable Professional (CAPP) to boost your credentials.
Step-5
Highlight your relevant experience, skills, and educational background tailored to accounting roles.
Step-6
Look for accounts payable clerk positions across various industries and tailor your applications.
Step-7
Practice discussing your experience, problem-solving abilities, and proficiency with financial software.
Step-8
Stay updated with accounting practices and pursue advanced opportunities to grow in your career.
Eligibility Criteria
| Eligibility Criteria | Description |
|---|---|
| Eligibility | You must have at least a 50% aggregate score in your 12th-grade exams from a recognized institution, such as PUC, CBSE, ICSE, or ISC. |
| Educational Background | The cut-off margin varies with different college selection processes |
| Undergraduate Degree | Any degree is acceptable, a B.Com/BBA or a diploma in Accounting and Finance is recommended for a deeper understanding of the market. |
| Postgraduate Degree | M.Com in Accounting and Finance beneficial for higher degrees and enhanced learning |
| Entrance Exams | Accounting and Finance courses do not require standardized entrance exams. |
- Minimum 50% aggregate in 12th grade from a recognized institution (PUC/CBSE/ICSE/ISC); cutoff margins vary by college.
- No standardized Entrance exams after 12th is required for Accounting and Finance programs; availability depends on universities.
- Any degree is acceptable, but a B.Com/BBA or a diploma in Accounting and Finance is recommended
- M.Com in Accounting and Finance is advantageous for further education and deeper learning.
Not eligible to pursue this career?
Find out different career options based on your current academic accomplishments. Enquire with our career experts and build a roadmap to your career success!
Tasks to perform as an Accounts Payable Clerk:
Knowledge & Skills Required
| Knowledge Required | |
|---|---|
| Understanding of accounting concepts, such as double-entry bookkeeping and Generally Accepted Accounting Principles (GAAP) | Understanding of applicable financial regulations and compliance standards |
| Knowledge of budgeting processes and techniques for financial forecasting | Being able to analyze and interpret diverse mathematical equations to solve complex problems in arithmetic, geometry, calculus, and other disciplines. |
| Understanding the prospects and functioning of circuit boards, processing units, circuits, electrical devices, computer equipment, plus applications and programming. | Utilizing business administration concepts related to strategic planning, capital allocation, resource optimization, leadership, production methods, and resource organization. |
| Skills Required | |
|---|---|
| Attention to Detail | Data Entry and Analysis |
| Communication Skills | Problem-Solving |
| Time Management | Surveillance |
| Processes Assessment | ARational interpretation |
The Knowlegde and Skills don't intrigue you?
The reason is that your interests don't align with this career. Identify your interests and match them with careers that require those skills. This alignment will help you grow and succeed in your career faster than you might expect!
Job Roles Offered for an Accounts Payable Clerk:
After gaining the necessary qualifications for an Accounts payable job, numerous career paths and project opportunities open up within this field and beyond.
Acts as an intermediary between creditors and debtors, facilitating repayment arrangements and improving payment processes through direct communication and computerized systems.
Gathers and analyzes data to provide insights for business decision-making, involving tasks like data sorting, statistical modeling, conducting surveys, and generating reports.
Manages credit lines for clients, ensures compliance with company policies, sets up accounts, protects customer information, and negotiates payment plans.
Essential for evaluating company finances and market conditions, providing insights and recommendations to senior management based on economic trends and data analysis.
Contacts individuals or businesses to collect overdue payments on behalf of creditors, working for third-party agencies or directly for companies, often utilizing varied hours for effective communication.
Supports financial transactions and reporting, including tasks such as consolidating financial data, processing invoices, managing accounts receivable, and ensuring timely payments to vendors.
Manages the purchasing process, negotiates contracts with suppliers, and ensures timely delivery of goods and services while maintaining cost efficiency.
Monitors inventory levels, manages stock replenishment, and coordinates with suppliers to ensure adequate inventory levels are maintained.
Processes employee payroll, calculates wages, deducts taxes and benefits, and ensures compliance with payroll regulations and company policies.
Not sure where you fit in?
With the wide variety of careers and job roles available, pinpointing the best option for you can be challenging. Thorough analysis and dedicated sessions can provide clarity on what to study, which industry and role to pursue, and the most suitable career path to follow.
Career Opportunities for an Accounts Payable Clerk:
Accounts Payable Clerks have the option to work in various departments within the listed companies below:
| Creed Infotech | True.org Cloud | Accenture |
| Deloitte India | JLL | ICON Plc |
| Alpha Sense | Oracle | Conduent |
| Dabur India Limited |
Colleges offering courses in Economics:
These are the colleges that offers the Best courses after 12th:
| Karnavati University (KU), Gandhinagar | Narsee Monjee College Of Commerce And Economics (NMCCE), Mumbai |
| St. Andrew College Of Arts Science & Commerce (SACASC), Mumba | Mount Carmel College (MCC), Bengaluru |
| Stella Maris College, Chennai | M.O.P. Vaishnav College For Women, Chennai |
| H.R. College Of Commerce And Economics (HRCCE), Mumbai | Goenka College Of Commerce & Business Administration, Kolkata |
| H. L. College Of Commerce (HLCC), Ahmedabad | Jyoti Nivas College (JNC), Bengaluru |
End Note
Embarking on a career as an Accounts Payable Clerk offers a rewarding journey filled with opportunities for growth and advancement. With the right education, skills, and dedication, you can become a valuable asset in the financial world, ensuring the smooth flow of transactions and contributing to organizational success. Connect with our experts at SetMyCareer to explore Career counselling for students after 12th and get personalized career paths and unlock your potential in this exciting field.
In this Career Outline
Get In Touch
No. 14/595, 1st Floor, Nanjappa Reddy Layout, Koramangala 8th Block, Bangalore 560095