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Principles of Accounts Payable and Receivable Management

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Tally Education and Distribution Services Private Limited

4.6

Based on 67 ratings

, see reviews

Tally Education and Distribution Services Private Limited

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:

Read more

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.

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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

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Traffic lights

Read about what's good

what should give you pause

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

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Reviews summary

Practical accounts management with tallyprime

According to students, this course provides a highly practical and directly applicable foundation for managing accounts payable and receivable, especially for those in bookkeeping or finance careers. Learners consistently praise the crystal clear TallyPrime demonstrations and the actionable skills gained. Importantly, recent reviews indicate that the Tally sections have been updated, addressing earlier concerns about interface alignment. While most find the course content excellent and logically structured, some suggest a need for more diverse practical exercises and a deeper dive into the theoretical interpretation of financial reports, beyond just the mechanics of generating them in Tally.

Benefits significantly from prior accounting fundamentals, building on previous courses.

"The foundational accounting knowledge from the previous course is definitely a must-have for this one."

"The course flows logically and builds on the previous one perfectly. This is a must for practical bookkeeping skills."

"It's a fantastic next step after the intro accounting course. The reports generation module was particularly useful."

Highly effective for real-world accounts payable and receivable management using Tally.

"This course was incredibly practical and directly applicable to my job. The TallyPrime demonstrations were crystal clear..."

"The practical application of Tally for accounts payable and receivable is invaluable. ...provides immediately actionable skills for accounting professionals."

"The course delivers on its promise to teach AP/AR with Tally. I enjoyed the modules on managing outstanding bills..."

Recent improvements ensure TallyPrime demonstrations are perfectly aligned and clear.

"They seem to have updated the Tally sections, which is great. The demonstrations are now perfectly aligned with TallyPrime..."

"The TallyPrime demonstrations were crystal clear, making complex accounts payable and receivable processes easy to understand..."

"Found this course somewhat dry and difficult to follow. The Tally interface shown was slightly different from my version..."

A desire for additional hands-on exercises and diverse scenarios was noted.

"While the practical application was valuable, I wish there were more exercises for different scenarios."

"More hands-on practice would be great."

"A bit more on handling discrepancies would be a bonus."

Some learners seek deeper theoretical understanding or interpretation alongside software use.

"I found the explanations of financial statements and reports a bit basic. While it shows how to generate them in Tally, I felt it didn't adequately explain *why* certain reports are crucial..."

"The concepts were explained, but I felt a lack of deeper theoretical understanding behind them. More hands-on practice would be great."

"Good for Tally mechanics, less for financial 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

Show steps

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

Show steps

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

Show steps

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

Browse courses on Case study

Show steps

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

Show all two activities

Career center

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

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

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.

See salaries and explore the career path for Accounts Payable Clerk

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

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

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

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

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

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.

See salaries and explore the career path for Management Accountant

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.

See salaries and explore the career path for Payroll Clerk

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.

See salaries and explore the career path for Purchasing Agent

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.

See salaries and explore the career path for Staff Accountant

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.

See salaries and explore the career path for Tax Accountant

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.

See salaries and explore the career path for Treasury Analyst

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.

See salaries and explore the career path for Auditor

Reading list

We've selected eight books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Principles of Accounts Payable and Receivable Management .

Cover image

Cover image

Accounting Policies and Procedures Manual

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This textbook introduces students to the basic concepts and managerial issues related to accounts payable and receivable management. It good reference text for this course, especially for beginners.

Accounting Policies and Procedures Manual

Accounting Policies and Procedures Manual

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Cover image

Understanding Financial Statements, Global Edition

Save

Provides a clear and concise explanation of financial statements. It is very useful as a background reference text for this course.

Understanding Financial Statements, Global Edition

Understanding Financial Statements, Global Edition

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Cover image

Introduction to Management Accounting

Save

This textbook classic in the field of financial accounting. It provides a comprehensive overview of the subject, and it valuable resource for additional reading.

Introduction to Management Accounting

Introduction to Management Accounting with...

Introduction to Managerial Accounting

Save

This textbook widely used introductory textbook in managerial accounting. It provides a good overview of the subject, and it can be used as a supplementary text for this course.

Introduction to Managerial Accounting

Introduction to Managerial Accounting

Cover image

Cover image

OFFICIAL GUIDE TO FINANCIAL ACCOUNTING USING...

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Comprehensive guide to using Tally.ERP 9 software. It is somewhat less useful for this course because it is geared towards users with less background in accounting.

Official Guide To Financial Accounting Using...

Management and Cost Accounting

Save

More advanced textbook on cost and management accounting. It useful reference for additional reading, but it is not a good choice for beginners.

Management and Cost Accounting

Management and Cost Accounting

Cover image

Cover image

The Economics of Art and Culture

Save

Comprehensive guide to financial reporting and analysis. It useful reference for additional reading, but it is not a good choice for beginners.

The Economics of Art and Culture

The Economics of Art and Culture

Cover image

Cover image

Auditing and Assurance Services, Global Edition

Save

Comprehensive guide to auditing and assurance services. It useful reference for additional reading, but it is not a good choice for beginners.

Auditing and Assurance Services, Global Edition

Auditing and Assurance Services, Global Edition

Auditing and Assurance Services plus Pearson MyLab...

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Course image

Rating

4.6

Effort

35 hours to complete

Level

Intermediate

Via

Coursera

Institution

Tally Education and Distribution Services Private Limited

Instructor

Tally Education and Distribution Services Private Limited

Language

English

Transcripts

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This course belongs to a collection called Tally Bookkeeper. It's comprised of three courses:

Principles of Accounts Payable and Receivable Management (viewing)
Basics of Statutory Compliance and Taxation
Fundamentals of Accounting and Reporting

Traffic lights

Read about what's good

what should give you pause

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

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