Principles of Accounts Payable and Receivable Management from Coursera

This course is for those interested in starting a career in bookkeeping. The course builds on the knowledge and skills covered in the first course in this professional certificate, Fundamentals of Accounting and Reporting, and dives deeper into accounts payable and receivable management.

You will not only learn concepts related to accounts payable and receivable, but also demonstrate the basic concepts of computerized accounting using Tally. Tally is a revolutionary product which has been created with greater flexibility and a new look and feel.

By the end of the course, you will be able to:

- Classify inventory

- Manage accounts receivable and accounts payable

- Manage purchase and sales orders

- Track costs of purchase

- Manage cost and profit centers

- Create and maintain budgets using TallyPrime

- Generate reports

No prior experience in bookkeeping is required. To be successful in this course, you should have completed the first course in this program, Fundamentals of Accounting and Reporting, or have the equivalent skills and knowledge.

What's inside

Syllabus

Storage and Classification of Inventory

At the end of the module- storage and classification of inventory you will be able to: • Describe inventory management• Explain storage and classification of inventory • Create inventory masters in Tally • Maintain batch-wise details • Purchase and sell the goods using batch wise feature• View the batch reports• Maintain price level and price lists • Revise the price list for different price levels

Accounts Receivable and Payable Management

At the end of the module, Accounts Receivable and Payable Management, you will be able to: • Explain accounts payable and receivables • Maintain and activate bill-wise entry in Tally • Describe the usage of bill-wise entry in purchase, sales, payment and receipt vouchers. • Manage outstandings by keeping track of receivables and payables • Generate reminder letters and confirmation of accounts • Also, split the single sales bill into multiple bills

Purchase and Sales Order Management

At the end of the module, Purchase and Sales Order Management you will be able to • Maintain complete purchase and sales order processing • View the order outstandings reports • Explain Pre-closure of Orders • Maintain Reorder Levels

Tracking Additional Costs of Purchase

At the end of the module Tracking Additional Costs of Purchase, you will be able to: • Track additional costs of purchase like Packing Cost and Transportation Cost • Record Purchase Transaction with Additional Cost Details in Voucher Mode • Rcord Purchase Transaction with Additional Cost Details in Item Invoice Mode • Record Debit Note Voucher with Additional Cost

Cost/Profit Centres Management

In this module you will learn to: • Create and maintain cost centres • Create and maintain the cost categories • View reports relating to cost centres and cost categories • Create and maintain cost centres class, and • Generate reports related to cost centre and categories

Budgets and Scenarios

At the end of the Module Budgets and Scenarios, you will be able to…. • Explain the meaning and importance of maintaining a budget in an organisation • Create and maintain budgets using Tally • Generate the variance report • Manage and create Scenarios in Tally

Generating & Printing Reports

At the end of the module Generating and Printing Reports, you will be able to…. • Analyze and Generate the reports like Stock Query, Godown wise Stock Availability, Stock Summary Analysis and Movement Analysis report • Compare the reports quarterly • Generate Financial Statements • Generate Books and Registers • Take Print of invoice and Reports

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Provides a comprehensive overview of bookkeeping principles and practices

utilizes Tally to demonstrate concepts, which is industry-standard accounting software

Helps learners develop proficiency in managing accounts receivable and payable

Develops skills in managing costs and profit centers, which are essential for financial management

Teaches how to create and maintain budgets, a crucial skill for financial planning

Provides hands-on experience in generating reports, a valuable skill for data analysis

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Principles of Accounts Payable and Receivable Management with these activities:

Sales transaction recording

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Practice recording sales transactions in a simulated accounting environment to improve accuracy and understanding.

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Create a sales invoice
Enter the transaction details
Assign the transaction to a cost center
Post the transaction

Case study on accounts payable and receivable management

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Develop a case study based on a real-world scenario involving accounts payable and receivable management to demonstrate practical applications.

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Research the topic thoroughly
Identify a suitable case
Develop the case study
Present or share the case study

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Career center

Learners who complete Principles of Accounts Payable and Receivable Management will develop knowledge and skills that may be useful to these careers:

Accounts Receivable Clerk

An Accounts Receivable Clerk is responsible for processing and collecting invoices. This course can help build a foundation for a career as an Accounts Receivable Clerk by teaching the basics of accounts receivable management. The course covers topics such as classifying inventory, managing accounts receivable, and generating reports. These are all essential skills for Accounts Receivable Clerks.

See salaries and explore the career path for Accounts Receivable Clerk

Credit Analyst

A Credit Analyst is responsible for assessing the creditworthiness of customers. This course can help build a foundation for a career as a Credit Analyst by teaching the basics of credit analysis. The course covers topics such as managing accounts receivable, generating reports, and assessing the creditworthiness of customers. These are all essential skills for Credit Analysts.

See salaries and explore the career path for Credit Analyst

Financial Analyst

A Financial Analyst is responsible for analyzing financial data. This course can help build a foundation for a career as a Financial Analyst by teaching the basics of financial analysis. The course covers topics such as generating financial statements, analyzing financial data, and developing financial models. These are all essential skills for Financial Analysts.

See salaries and explore the career path for Financial Analyst

Tax Accountant

A Tax Accountant is responsible for preparing tax returns. This course can help build a foundation for a career as a Tax Accountant by teaching the basics of tax accounting. The course covers topics such as generating financial statements, analyzing financial data, and preparing tax returns. These are all essential skills for Tax Accountants.

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Accountant

An Accountant is a professional responsible for recording and maintaining financial information. This course can help build a foundation for a career as an Accountant by teaching the basics of accounts payable and receivable management. The course covers topics such as classifying inventory, managing accounts receivable and accounts payable, and generating reports. These are all essential skills for Accountants.

See salaries and explore the career path for Accountant

Budget Analyst

A Budget Analyst is responsible for developing and maintaining budgets. This course can help build a foundation for a career as a Budget Analyst by teaching the basics of budget management. The course covers topics such as creating and maintaining budgets, generating variance reports, and managing scenarios. These are all essential skills for Budget Analysts.

See salaries and explore the career path for Budget Analyst

Management Accountant

A Management Accountant is responsible for providing financial information to managers. This course can help build a foundation for a career as a Management Accountant by teaching the basics of management accounting. The course covers topics such as creating and maintaining budgets, generating financial statements, and analyzing financial data. These are all essential skills for Management Accountants.

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Cost Accountant

A Cost Accountant is responsible for managing costs. This course can help build a foundation for a career as a Cost Accountant by teaching the basics of cost accounting. The course covers topics such as creating and maintaining cost centers, generating cost reports, and managing scenarios. These are all essential skills for Cost Accountants.

See salaries and explore the career path for Cost Accountant

Bookkeeper

A Bookkeeper is responsible for maintaining financial records. This course can help build a foundation for a career as a Bookkeeper by teaching the basics of bookkeeping. The course covers topics such as classifying inventory, managing accounts payable and accounts receivable, and generating reports. These are all essential skills for Bookkeepers.

See salaries and explore the career path for Bookkeeper

Treasury Analyst

A Treasury Analyst is responsible for managing cash and investments. This course can help build a foundation for a career as a Treasury Analyst by teaching the basics of treasury management. The course covers topics such as generating financial statements, analyzing financial data, and managing cash and investments. These are all essential skills for Treasury Analysts.

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Staff Accountant

A Staff Accountant is responsible for performing accounting tasks. This course can help build a foundation for a career as a Staff Accountant by teaching the basics of accounting. The course covers topics such as classifying inventory, managing accounts payable and accounts receivable, and generating reports. These are all essential skills for Staff Accountants.

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Purchasing Agent

A Purchasing Agent is responsible for purchasing goods and services. This course can help build a foundation for a career as a Purchasing Agent by teaching the basics of purchasing management. The course covers topics such as managing accounts payable, generating reports, and purchasing goods and services. These are all essential skills for Purchasing Agents.

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Payroll Clerk

A Payroll Clerk is responsible for processing payroll. This course can help build a foundation for a career as a Payroll Clerk by teaching the basics of payroll processing. The course covers topics such as managing accounts payable, generating reports, and processing payroll. These are all essential skills for Payroll Clerks.

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Accounts Payable Clerk

An Accounts Payable Clerk is responsible for processing and paying invoices. This course can help build a foundation for a career as an Accounts Payable Clerk by teaching the basics of accounts payable management. The course covers topics such as classifying inventory, managing accounts payable, and generating reports. These are all essential skills for Accounts Payable Clerks.

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Auditor

An Auditor is responsible for examining financial records to ensure accuracy and compliance. This course may be useful for Auditors by providing a foundation in accounting and financial management. The course covers topics such as classifying inventory, managing accounts payable and accounts receivable, generating reports, and analyzing financial data. These skills can help Auditors understand the financial implications of their work and improve their ability to detect fraud and errors.

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