Top 11 Accounts Receivable Analyst Certifications

Certifications are important for an accounts receivable analyst in the job market because they demonstrate a certain level of knowledge and skill in the field. They also show potential employers that the analyst is committed to their profession and has taken steps to increase their knowledge and stay abreast of industry changes. Certifications provide employers with evidence that the analyst is well-qualified for the position, and can help differentiate them from other applicants. Additionally, certifications can open up new career opportunities as more companies require certification as a prerequisite for employment.

The purpose of this article is to provide an overview of the various certifications available to Accounts Receivable Analysts and discuss how they can help enhance their career prospects.

What are Accounts Receivable Analyst Certifications?

Accounts receivable analyst certification is a professional credential that demonstrates an individual’s proficiency in the field of accounts receivable. This certification is typically offered by organizations such as the Institute of Financial Operations (IFO) or the American Institute of Professional Bookkeepers (AIPB). Individuals who successfully complete this certification program are knowledgeable in the principles and practices of accounts receivable management.

Having accounts receivable analyst certification can be an advantage for those seeking employment in the finance industry, especially positions dealing with accounts receivable. The credential provides employers with assurance that potential employees possess the necessary skills and knowledge to effectively manage accounts receivables. Additionally, having this certification may provide individuals with higher salaries and more job opportunities than those without it.

Furthermore, obtaining an accounts receivable analyst certification can also help individuals advance their career. Those who have achieved this credential have access to additional resources such as networking opportunities, expert advice, and advanced training courses which can help them stay current on industry trends and developments. As well as providing credentials to demonstrate their expertise in accounts receivable management, individuals may also receive discounts on software programs or other services related to their profession.

Overall, having an accounts receivable analyst certification can be beneficial for those interested in pursuing a career in finance or accounting because it provides them with recognition of their expertise and knowledge within the field. It also provides employers with assurance that they are hiring competent professionals who are capable of managing their company’s finances efficiently and effectively.

Pro Tip: Make sure to complete any required continuing education credits to maintain your accounts receivable analyst certification. This will help you stay up-to-date on best practices and regulations in the field, and will give you a competitive edge over other analysts.

Related: What does an Accounts Receivable Analyst do?

Top 11 Accounts Receivable Analyst Certifications

Here’s our list of the best certifications available to Accounts Receivable Analysts today.

1. Certified Accounts Receivable Professional (CARP)

Certified Accounts Receivable Professional (CARP) is a professional certification program offered by the Institute of Financial Operations. The program is designed to recognize individuals who have demonstrated expertise in accounts receivable management and related topics.

The CARP program consists of three levels: Certified Accounts Receivable Professional (CARP), Certified Accounts Receivable Manager (CARM), and Certified Accounts Receivable Executive (CARE). Each level requires a different level of knowledge and experience, as well as passing an exam.

To obtain the CARP certification, applicants must have at least two years of accounts receivable experience, complete an online application, and take and pass the CARP exam. The exam consists of 100 multiple-choice questions that cover topics such as accounts receivable operations, customer service, collections, credit analysis, dispute resolution, compliance regulations, and more.

The cost for the CARP certification is $350 USD for members of the Institute of Financial Operations ($450 USD for non-members). The exam takes approximately two hours to complete and can be taken at any Prometric testing center or online via remote proctoring.

2. Certified Accounts Receivable Manager (CARM)

Certified Accounts Receivable Manager (CARM) is a professional certification program offered by the National Association of Credit Management (NACM). It is designed to recognize professionals who have demonstrated expertise in accounts receivable management. CARM certification provides assurance to employers and clients that the individual has the knowledge, skills and abilities required to effectively manage accounts receivable operations.

The CARM program consists of two exams: a written exam and a practical exam. The written exam covers topics such as accounts receivable policy, procedures, regulations, technology, and customer service; while the practical exam focuses on problem-solving and decision-making related to accounts receivable operations. Both exams must be passed in order to achieve certification.

The length of time it takes to complete the CARM program varies depending on the individual's experience level and how quickly they are able to master the material. Generally speaking, it takes approximately 6 months for an experienced professional with prior accounts receivable experience to complete both exams.

In order to get certified as an Accounts Receivable Manager, you must first become a member of NACM by completing an application form online or through their office. Once your membership is approved, you will be able to register for the CARM program and take both exams at your own pace.

The cost of becoming a Certified Accounts Receivable Manager depends on whether you are already a member of NACM or not. For non-members, there is an initial fee of $295 which includes both exams and one year of membership with NACM; while members only need to pay $195 for both exams.

3. Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM) is a professional certification program that is offered by the Association of Government Accountants (AGA). The CGFM certification recognizes individuals who have demonstrated advanced knowledge and expertise in government financial management.

The CGFM program consists of three examinations: The Governmental Environment, Governmental Accounting and Financial Reporting, and Governmental Budgeting and Fiscal Policy. Each exam must be passed within a five-year period in order to obtain the CGFM designation.

In order to become certified, you must meet certain eligibility requirements. These include having a bachelor’s degree from an accredited university or college, two years of full-time professional experience in governmental financial management, and passing all three exams within the five-year period.

The cost for taking the CGFM exams varies depending on which country you are taking them in. In the United States, each exam costs $150 plus an additional $50 registration fee. In other countries, the cost may vary but is typically around $200 per exam.

Once you have successfully completed all three exams within the five-year period, you will receive your CGFM designation and be recognized as a Certified Government Financial Manager.

4. Certified Credit and Collection Professional (CCCP)

Certified Credit and Collection Professional (CCCP) is a professional certification program that is designed to recognize individuals who demonstrate expertise in the credit and collection industry. The CCCP certification is offered by the National Association of Credit Management (NACM).

The CCCP program requires applicants to pass an exam that covers topics such as legal aspects of credit and collections, financial analysis, credit reporting, accounts receivable management, and ethics. The exam consists of 150 multiple-choice questions and must be taken within a three-hour time frame.

In order to qualify for the CCCP exam, applicants must have at least two years of experience in the credit or collection field or have completed a NACM-approved course in credit or collections.

The cost of taking the CCCP exam varies depending on whether you are a member of NACM or not. For non-members, the cost is $395 USD, while for members it is $295 USD.

Once you have passed the exam, you will receive your official CCCP certificate from NACM. This certificate must be renewed every three years by completing continuing education credits.

5. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is an individual who has met the education, experience, and examination requirements of their state's Board of Accountancy. CPAs are licensed by their respective states to provide a wide range of accounting services to the public including auditing financial statements, preparing tax returns, providing financial advice, and performing other related services.

The process of becoming a CPA varies from state to state but typically includes completing 150 hours of college-level coursework in accounting and related subjects, passing the Uniform CPA Examination administered by the American Institute of Certified Public Accountants (AICPA), and meeting any additional requirements set forth by the applicable state board. The amount of time it takes to become a CPA can vary depending on how quickly you complete your college coursework and pass the exam. Generally speaking, it can take anywhere from two to five years to become a CPA.

To become a CPA, you must meet the educational requirements set forth by your state board. This typically involves completing at least 150 hours of college-level coursework in accounting and related subjects such as auditing, taxation, business law, and ethics. You must also pass the Uniform CPA Examination administered by the AICPA. This exam consists of four sections: Auditing & Attestation; Business Environment & Concepts; Financial Accounting & Reporting; Regulation.

The cost of becoming a CPA will vary depending on where you live and which courses you take. Generally speaking, you can expect to pay anywhere from $500-$2,000 for tuition and fees associated with taking courses required for licensure. Additionally, there is an application fee that must be paid when applying for licensure in most states which ranges from $50-$200 depending on where you live. Finally, there is an exam fee that must be paid when registering for the Uniform CPA Exam which currently stands at $1,400 for all four sections combined ($800 per section).

6. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and Chartered Institute of Management Accountants (CIMA). It is a globally recognized credential that demonstrates an individual’s expertise in management accounting, financial reporting, strategic decision making, and business performance.

In order to obtain the CGMA designation, individuals must have at least five years of experience in management accounting or related fields. They must also pass the CGMA exam, which consists of two parts: the Strategic Business Leader Exam and the Professional Level Exam. The exams are administered by AICPA and CIMA on a quarterly basis.

The cost to take the CGMA exam varies depending on where you take it. In the United States, it costs $1,000 for both parts of the exam; in Canada it costs $1,250; and in other countries it can range from $1,500 to $2,000.

Once you have passed both parts of the exam and fulfilled all other requirements for certification, you will receive your CGMA designation within six weeks.

7. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is the most widely recognized and respected credential for internal auditors. The CIA designation demonstrates an individual’s commitment to the profession, mastery of the internal audit body of knowledge, and adherence to the IIA Code of Ethics.

The CIA exam consists of three parts: Part 1 – Internal Audit Basics, Part 2 – Practice of Internal Auditing, and Part 3 – Business Knowledge for Internal Auditing. Each part must be completed within 12 months from the date you register for the exam.

To become a Certified Internal Auditor (CIA), you must meet certain eligibility requirements, including having a minimum of two years of internal auditing experience. You can also become eligible through an education waiver program if you have a bachelor's degree or higher in accounting or related field and have passed one or more exams from a recognized professional accounting organization such as CPA, CA, CMA or CGA.

You can apply for the CIA exam online via the IIA website. The cost to take all three parts is $1,500 USD plus applicable taxes and fees.

8. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional certification for financial planners. The CFP certification is granted by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP designation signifies that the holder has met certain educational, experience and ethical requirements and has agreed to abide by the CFP Board’s Code of Ethics and Professional Responsibility.

To become a CFP, individuals must complete a comprehensive course of study in financial planning topics, such as insurance planning, investments, taxes, retirement planning, and estate planning. After completing the required coursework, they must pass a rigorous two-day exam administered by the CFP Board. Once they have passed the exam, they must also satisfy certain experience requirements before being eligible to receive their designation.

The process typically takes three to four years to complete depending on an individual’s background and experience level.

There are several paths to becoming a CFP:

1) Completing an approved college program in financial planning or related field;

2) Completing self-study courses offered by universities or other organizations;

3) Participating in an apprenticeship program; or

4) Combining any of these methods with additional coursework and/or work experience in financial services.

The cost of obtaining the CFP certification varies depending on which path you take. Generally speaking, tuition costs range from $2,500-$10,000 for self-study courses or college programs. Apprenticeship programs may also require fees for materials and/or exams. Additionally, there is an initial application fee of $50 and an annual renewal fee of $95 charged by the CFP Board.

9. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA Program is an advanced curriculum designed to provide a comprehensive understanding of the global capital markets and portfolio management techniques. It consists of three levels of examinations, each taking approximately 12 months to complete.

To become a CFA charterholder, one must pass all three levels of exams and meet the required professional experience requirements. Each level builds on the knowledge acquired in the previous level and requires significant study time outside of class. The exams are offered twice a year in June and December at testing centers around the world.

The cost for registering for each exam varies depending on when you register. Generally, it costs around $1,000 USD per exam with discounts available if you register early or are part of an organization such as CFA Society. Additionally, there are fees associated with becoming a member of the CFA Institute and maintaining your membership status over time.

Overall, obtaining your CFA designation can take up to four years depending on how quickly you complete each level of exams and gain the required professional experience hours needed for certification.

10. American Institute of Professional Bookkeepers Certification

The American Institute of Professional Bookkeepers (AIPB) Certification is an industry-recognized credential for bookkeepers. It is designed to demonstrate a professional’s knowledge and proficiency in the field of bookkeeping. The certification is offered through the AIPB, a non-profit organization that was founded in 1987 to promote excellence in the profession of bookkeeping.

To become certified, candidates must pass the AIPB's Certified Bookkeeper Exam. This exam covers topics such as financial statements, payroll processing, accounts receivable and payable, taxes and budgeting. The exam consists of 100 multiple-choice questions and takes approximately four hours to complete. Candidates must score at least 70% on the exam to pass and be awarded their certification.

In order to take the exam, candidates must first register with AIPB and pay a registration fee of $195 USD. Once registered, they will receive instructions on how to schedule their exam date with a testing center near them. After passing the exam, they will be issued their certification which is valid for three years from the date of issue. To maintain their certification, they must complete 24 hours of continuing education credits every three years or retake the exam after three years has elapsed since passing it initially.

Overall, obtaining AIPB Certification requires dedication and commitment but can provide valuable recognition for those working in bookkeeping or accounting fields.

11. Association of Finance Professionals Certification

The Association of Finance Professionals (AFP) Certification is a professional certification program for finance professionals. It is designed to recognize the knowledge and skills of those who work in the field of finance. The certification is offered at three levels: Certified Financial Analyst (CFA), Certified Treasury Professional (CTP), and Certified Cash Manager (CCM).

It typically takes between six months to one year to complete the CFA, CTP, or CCM certification program. The program consists of a series of online courses, exams, and other requirements that must be completed in order to earn the certification. Each course focuses on a different area of finance such as financial analysis, treasury management, or cash management.

In order to get certified, applicants must first pass an exam that covers all topics related to their chosen level of certification. After passing the exam, applicants must then submit an application with supporting documents such as transcripts and letters of recommendation. Once approved by AFP, applicants will receive their official certificate from AFP.

The cost for the AFP Certification varies depending on which level you are applying for. The CFA costs $1,500 USD; the CTP costs $1,000 USD; and the CCM costs $750 USD. All fees are non-refundable and must be paid in full prior to taking any exams or submitting any applications.

Do You Really Need a Accounts Receivable Analyst Certificate?

An Accounts Receivable Analyst Certificate can be an invaluable asset to anyone looking to pursue a career in accounts receivable. It is especially beneficial if you are trying to break into the field or gain more knowledge and experience in the area. The certificate indicates that you have a certain level of knowledge and skill in the field and can help you stand out from other applicants for jobs.

The certificate also provides evidence that you have taken initiative to learn about the field and are serious about pursuing a career in accounts receivable. It demonstrates that you have invested your time and effort into becoming well-versed in the topic, which shows potential employers that you are dedicated and responsible. Furthermore, having an Accounts Receivable Analyst Certificate on your resume can make it easier for employers to trust that you have the necessary skills for success in the job.

Ultimately, whether or not you need an Accounts Receivable Analyst Certificate depends on your individual goals and circumstances. If you are just starting out in accounts receivable, then obtaining one could give you a competitive edge when applying for jobs or promotions. On the other hand, if you already possess extensive experience with accounts receivables, then having a certificate may not be necessary as employers will likely recognize your expertise without one.

Related: Accounts Receivable Analyst Resume Examples

FAQs About Accounts Receivable Analyst Certifications

1. What is an Accounts Receivable Analyst Certification?

Answer: An Accounts Receivable Analyst Certification is a professional certification that demonstrates a professional’s proficiency in accounts receivable management and analysis. It is designed to give employers assurance that the individual has the necessary skills to accurately analyze and manage accounts receivables.

2. What are the benefits of becoming certified?

Answer: Becoming certified provides tangible benefits such as increased job opportunities, higher salaries, and greater credibility with employers. It also allows professionals to stay up-to-date on best practices in the field and demonstrate their commitment to professional growth and development.

3. How do I become certified?

Answer: In order to become certified, you must meet certain educational requirements, pass an exam administered by a recognized industry body, and have relevant experience in accounts receivable management or analysis.

4. How long does certification last?

Answer: Generally speaking, certifications are valid for three years from the date of issue, after which point they must be renewed by demonstrating ongoing education or experience in accounts receivables management or analysis.

5. Are there any additional resources available for those seeking certification?

Answer: Yes! There are numerous books, online courses, webinars, and other resources available for those looking to pursue an Accounts Receivable Analyst Certification. Additionally, many organizations offer mentoring programs or support groups for those looking to pursue certification in this field.