How to Become an Accounts Payable Clerk: Australian Careers in Accounting and Bookkeeping

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FNS40222

Certificate IV in Accounting and Bookkeeping

Always in demand, accounting is an excellent choice of profession for those who crave flexibility in their career. Build skills that take you where you want to go with this FNS40222 Certificate IV in Accounting and Bookkeeping from MCI Institute.

This course is the ideal entry point for anyone wanting to become a BAS agent, payroll clerk, bookkeeper, accounts assistant or more. Their expertly-led, simple-to-follow online structure allows you to study at your own time and will equip you with the necessary skills to launch your career. This course will familiarise you with manual and computerised accounting systems, how to prepare financial reports and statements, making financial forecasts and projections, maintaining payroll systems and preparing operational budgets.

If you’ve ever been curious about trying your hand at accounting, this course is the perfect introduction to the profession. Stand out in today’s competitive job market, seize the opportunity and make a start on your new career today!

This FNS40222 Certificate IV in Accounting and Bookkeeping is delivered 100% online.

While there is no government funding available for this course, MCI Institute offers a number of easy payment plans starting from as little as $73.08 per week.

Online

Accounts Assistant, Accounts Payable Clerk, Accounts Receivable Clerk, Bookkeeper, Bookkeeper Assistant, Payroll Clerk

Price may vary

Up to 12 months

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What is a Accounts Payable Clerk?

What will I do?

What skills do I need?

Resources

What is a Accounts Payable Clerk?

The role of an Accounts Payable Clerk is a vital component in the financial operations of any organisation. These professionals are responsible for managing and processing the company’s outgoing payments, ensuring that all invoices are accurately recorded and paid on time. This position not only requires a keen eye for detail but also a strong understanding of financial principles, making it an excellent career choice for those who enjoy working with numbers and financial data.

Accounts Payable Clerks undertake a variety of responsibilities that contribute to the smooth functioning of the accounts department. They prepare and process documentation related to accounts payable, reconcile invoices, and dispatch payments to vendors. Additionally, they play a crucial role in calculating and analysing costs associated with expenditures, which helps the organisation maintain its budget effectively. Their work often involves preparing bank reconciliations and summarising expenditure and receipts, ensuring that financial records are accurate and up to date.

In this dynamic role, clerks frequently interact with vendors and internal departments, addressing inquiries and resolving discrepancies. This aspect of the job not only enhances their communication skills but also fosters a collaborative work environment. The position is well-suited for individuals who thrive in structured settings and appreciate the satisfaction that comes from ensuring financial accuracy and compliance.

With a growing demand for skilled professionals in the accounting field, a career as an Accounts Payable Clerk offers numerous opportunities for advancement. Many clerks find that their experience in this role serves as a stepping stone to higher positions within finance and accounting, such as Accounts Payable Manager or Financial Analyst. This career path not only provides stability but also the chance to develop valuable skills that are highly sought after in the job market.

Career snapshots For Accounts Payable Clerks

The role of an Accounts Payable Clerk is essential in managing financial transactions within an organisation. This position involves monitoring creditor and debtor accounts, processing documentation, and ensuring timely payments. The career is predominantly held by women, reflecting a significant gender representation in the field.

Average Age: 45 years
Gender Distribution: 85% female
Average Hours Worked: 40 hours per week
Median Weekly Earnings: Approximately AU$1,392
Unemployment Rate: Relatively low, with a stable demand for roles
Current Employment: About 93,000 individuals are employed as Accounts Clerks
Projected Growth: Steady growth expected in the coming years, with an annual increase of around 4,700 positions

As the financial landscape evolves, the demand for skilled Accounts Payable Clerks remains strong, making it a viable career choice for those interested in finance and administration. The role offers opportunities for advancement and the potential for further education to enhance career prospects.

Source: Australian Bureau of Statistics (ABS), Labour Force Survey, 2023.

What will I do?

Accounts Payable Clerks play a vital role in the financial operations of an organisation, ensuring that all payments to suppliers and vendors are processed accurately and on time. They are responsible for managing creditor accounts, reconciling invoices, and maintaining financial records. This position requires attention to detail, strong organisational skills, and the ability to work with various financial software systems. As the backbone of the accounts payable process, these clerks contribute significantly to the overall financial health of their organisation.

Preparing and processing documentation related to accounts payable and receivable – This involves creating and managing invoices, purchase orders, and payment requests.
Reconciling invoices and dispatching payments – Ensuring that invoices match purchase orders and processing payments to vendors in a timely manner.
Calculating, analysing, and investigating the costs of proposed expenditure, wages, and standard costs – Assessing financial data to ensure accuracy and compliance with budgetary constraints.
Preparing bank reconciliations – Regularly checking and reconciling bank statements to ensure all transactions are accounted for.
Allocating expenditure to specified budget accounts – Assigning costs to the appropriate budget categories to maintain accurate financial records.
Summarising expenditure and receipts – Compiling financial data to provide a clear overview of spending and income.
Preparing records of standard costs and values for items such as raw materials and packaging supplies – Maintaining accurate records of costs associated with goods and services.
Recording cost variations and contract price movements – Keeping track of any changes in costs or contract terms that may affect financial planning.
Compiling cost data for preparation of operating budgets and profit and loss calculations – Assisting in the development of budgets and financial forecasts.
Investigating the costs of proposed expenditures, quotations, and estimates – Conducting research to ensure that proposed costs are reasonable and justified.
Preparing reports of total costs, inventory adjustments, selling prices, and profits – Generating financial reports to inform management decisions.
May work in a call centre – Handling inquiries related to accounts payable and providing customer service support as needed.

What skills do I need?

A career as an Accounts Payable Clerk requires a blend of technical and interpersonal skills to effectively manage financial transactions and maintain accurate records. Key skills include proficiency in accounting software and spreadsheet applications, which are essential for processing invoices, reconciling accounts, and preparing financial reports. Attention to detail is crucial, as clerks must ensure that all entries are accurate and comply with company policies and regulations. Strong analytical skills are also important for investigating discrepancies and understanding cost structures.

In addition to technical abilities, effective communication skills are vital for liaising with vendors and internal departments. An Accounts Payable Clerk should be able to handle inquiries and resolve issues promptly, fostering positive relationships with suppliers. Time management skills are equally important, as clerks often juggle multiple tasks and deadlines. Overall, a successful Accounts Payable Clerk combines technical expertise with strong organisational and communication skills to contribute to the financial health of their organisation.

Skills/attributes

Attention to Detail
Strong Numerical Skills
Proficiency in Accounting Software
Effective Communication Skills
Organisational Skills
Time Management
Problem-Solving Abilities
Understanding of Financial Regulations
Ability to Work Independently and as Part of a Team
Basic Knowledge of Taxation and Compliance
Data Entry Skills
Adaptability to New Technologies
Customer Service Orientation

Resources

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How to Become an Accounts Payable Clerk: Australian Careers in Accounting and Bookkeeping

What is a Accounts Payable Clerk?

Career snapshots For Accounts Payable Clerks

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes