Top 10 Accounts Receivable Manager Certifications
This article provides an overview of the top certifications available to accounts receivable managers in order to help them advance their careers.
Published 18 min read
Certifications for an accounts receivable manager demonstrate a level of competency and expertise that can be attractive to employers. They provide evidence of the professional’s commitment to their field and signify that they have the knowledge and skills necessary to manage accounts receivable. Certifications also give accounts receivable managers a competitive edge in the job market, as they are seen as more qualified than those who do not hold any certifications. Additionally, certifications can open up opportunities for career advancement or higher salaries.
The purpose of this article is to review the top certifications for Accounts Receivable Managers and explain how they can aid in career advancement and success.
What are Accounts Receivable Manager Certifications?
Accounts receivable manager certification is a professional designation that recognizes individuals who have the knowledge and skills necessary to effectively manage accounts receivable processes in an organization. This certification provides validation of the individual’s competencies in areas such as financial reporting, credit management, collections, accounts receivable systems, and customer service. It also serves as a testament to their understanding of the latest industry trends and best practices.
The benefits of achieving this certification include increased job security, higher salaries, and better career opportunities. Having accounts receivable manager certification can demonstrate to potential employers that you have the necessary qualifications to take on a leadership role in accounts receivable operations. The designation can also open up new doors for promotion or other advancement opportunities within your current organization. Additionally, it can help you stand out from other candidates when applying for jobs in the field. Lastly, becoming certified demonstrates your commitment to professional growth and development in a competitive job market.
Pro Tip: When pursuing an accounts receivable manager certification, make sure to review the certification requirements and identify any additional training or experience that may be necessary for successful completion. Additionally, consider working with a mentor who specializes in accounts receivable management to gain insight on how to best prepare for the certification exam.
Top 10 Accounts Receivable Manager Certifications
Here’s our list of the best certifications available to Accounts Receivable Managers today.
1. Certified Accounts Receivable Professional (CARP)
Certified Accounts Receivable Professional (CARP) is a professional certification program offered by the Institute of Finance and Management (IOFM). It is designed to recognize individuals who have achieved a high level of expertise in accounts receivable management. The CARP certification provides recognition for those who have demonstrated a mastery of the principles, practices, and techniques of accounts receivable management.
It takes approximately four months to complete the process of obtaining the CARP certification. To become certified, applicants must first pass an online exam covering topics such as accounting principles, financial analysis, accounts receivable processes, and customer service. After passing the exam, applicants must complete an application form and submit it to IOFM for review. Upon approval from IOFM, applicants are required to attend a two-day seminar on accounts receivable management and successfully complete an additional exam in order to receive their CARP certification.
The cost of obtaining the CARP certification varies depending on the number of exams taken and other factors. Generally speaking, it costs around $1,500 to obtain the CARP certification. This includes all applicable fees such as registration fees, exam fees and seminar fees.
In addition to providing recognition for those with expertise in accounts receivable management, having a CARP certification can also open up career opportunities within organizations that require specialized knowledge in this field.
2. Certified Accounts Receivable Manager (CARM)
Certified Accounts Receivable Manager (CARM) is a professional certification program designed to recognize individuals who have demonstrated a high level of expertise in the accounts receivable field. The program was created by the International Association of Credit and Collection Professionals (IACCP) and is recognized as the gold standard for accounts receivable professionals.
The CARM certification requires applicants to pass an exam that covers topics such as credit management, accounts receivable management, collection practices, legal issues, customer service, and technology. The exam consists of multiple-choice questions and takes approximately two hours to complete.
In order to become certified, applicants must meet certain eligibility requirements including having at least three years of experience in accounts receivable or related fields, being employed in an accounts receivable capacity for at least one year within the last three years, and having a minimum of two letters of recommendation from current or former employers.
The cost for the CARM certification exam is $295 USD. Once you have successfully passed the exam you will receive your official CARM certificate along with a lapel pin which can be worn proudly to demonstrate your commitment to excellence in the field of accounts receivable.
3. Certified Credit and Collection Professional (CCCP)
Certified Credit and Collection Professional (CCCP) is a professional certification program offered by the National Association of Credit Management (NACM). It is designed to recognize individuals who have achieved a high level of proficiency in credit and collection management. The certification requires that applicants demonstrate their knowledge and skills in areas such as credit analysis, accounts receivable management, collections, legal issues, customer service, and more.
To become certified, applicants must meet certain eligibility requirements including having at least two years of full-time experience in credit or collections. They must also pass an exam administered by NACM. The exam consists of multiple-choice questions covering topics related to credit and collections.
It typically takes about six months to complete the process from start to finish. During this time applicants must complete the application process, take the exam, and receive their results.
The cost for the CCCP certification program varies depending on the type of membership you have with NACM. For non-members it costs $395 plus any applicable taxes; for members it costs $295 plus any applicable taxes; and for student members it costs $195 plus any applicable taxes.
4. Certified Revenue Cycle Specialist (CRCS)
A Certified Revenue Cycle Specialist (CRCS) is a professional designation that demonstrates expertise in the revenue cycle management process. It is designed to recognize individuals who have achieved a high level of knowledge and experience in the field of healthcare finance. The CRCS credential is offered by the Healthcare Financial Management Association (HFMA).
To become certified, applicants must pass an exam that covers topics such as billing and coding, accounts receivable management, reimbursement systems, collections processes, and more. The exam consists of multiple-choice questions and takes approximately two hours to complete.
The cost of the certification exam varies depending on whether you are an HFMA member or non-member. For members, the fee is $225; for non-members, it is $325. Additionally, there is an annual renewal fee of $50 for both members and non-members.
In order to be eligible for the CRCS certification program, applicants must have at least three years of professional experience in healthcare finance or a related field. Applicants must also meet certain educational requirements: either a bachelor's degree from an accredited college or university or equivalent work experience in healthcare finance or a related field.
5. Certified Accounts Receivable Administrator (CARA)
Certified Accounts Receivable Administrator (CARA) is a professional certification program offered by the Institute of Finance and Management (IOFM). It is designed to provide accounts receivable professionals with the knowledge and skills necessary to effectively manage the accounts receivable process. The CARA certification covers topics such as credit management, collections, dispute resolution, customer service, and reporting.
The CARA certification process consists of two parts: an online exam and a practical assessment. The online exam consists of multiple-choice questions that test your knowledge of accounts receivable processes. The practical assessment requires you to demonstrate your ability to apply the concepts from the online exam in real world scenarios.
It typically takes about 3 months to complete the CARA certification process. To get started, you must first register for the program on IOFM’s website. After registration is complete, you will receive access to study materials and practice tests that will help prepare you for the online exam and practical assessment.
The cost of becoming a Certified Accounts Receivable Administrator varies depending on whether or not you are an IOFM member. For non-members, the cost is $495 USD; for members, it is $395 USD.
6. Certified Accounts Receivable Technician (CART)
Certified Accounts Receivable Technician (CART) is a professional designation that recognizes the expertise of accounts receivable professionals in the areas of collections, credit and accounts receivable management. It is offered by the National Association of Credit Management (NACM).
In order to become a Certified Accounts Receivable Technician, individuals must pass an examination administered by NACM. The exam consists of two parts: a multiple-choice section and a written essay section. The exam covers topics such as credit analysis, collection techniques, accounts receivable management, and legal issues related to accounts receivable.
The exam takes approximately three hours to complete and can be taken at any NACM testing center or online through NACM's website. To be eligible for the CART certification, applicants must have at least two years of experience in accounts receivable management or related fields.
The cost for taking the CART certification exam varies depending on the type of membership you hold with NACM. For non-members, the cost is $300; for members, it is $200; and for student members, it is $100. Once you have passed the exam, you will receive your official CART certificate from NACM.
7. Certified Professional Billing and Coding Specialist (CPBCS)
Certified Professional Billing and Coding Specialist (CPBCS) is a certification program that provides healthcare professionals with the knowledge and skills to accurately code medical services and procedures. The certification is offered by the American Academy of Professional Coders (AAPC) and requires applicants to pass an exam.
In order to become certified, applicants must complete an approved course in medical coding, including anatomy, physiology, medical terminology, ICD-10-CM/PCS coding, CPT coding, HCPCS Level II coding and reimbursement methodologies. The course typically takes between six months and one year to complete. After completing the coursework, applicants must take the AAPC Certification Exam which covers all aspects of medical billing and coding.
The cost of the CPBCS certification varies depending on the type of course taken. Most courses range from $1,000-$2,500 for tuition and materials. In addition to tuition fees there are also fees for taking the exam which range from $300-$400.
Once certified as a CPBCS professional you will be able to accurately code medical services and procedures for insurance companies as well as other healthcare organizations. This will help ensure that accurate payments are made for services rendered while reducing errors in billing practices.
8. American Institute of Professional Bookkeepers (AIPB) Certification
The American Institute of Professional Bookkeepers (AIPB) Certification is a professional credential that recognizes the knowledge and skills of bookkeepers who are proficient in the accounting profession. This certification demonstrates to employers, clients, and colleagues that the individual has a comprehensive understanding of bookkeeping principles and practices.
To become AIPB certified, individuals must pass the AIPB Certification Exam. The exam consists of 150 multiple-choice questions covering topics such as financial statements, payroll processing, accounts receivable/payable, taxes, and more. To be eligible to take the exam, applicants must have at least two years of full-time work experience as a bookkeeper or equivalent combination of education and experience.
The AIPB Certification Exam is offered twice a year in April and October. Registration for the exam typically opens six weeks before each testing window. The cost to take the exam is $250 USD.
Once an individual passes the AIPB Certification Exam, they will receive their official AIPB Certificate in approximately four weeks after completing all requirements for certification. The certificate is valid for five years from the date it was issued. After five years have passed since receiving certification, individuals must renew their credentials by taking continuing education courses or retaking the certification exam.
9. International Association of Financial Professionals Certification
The International Association of Financial Professionals (IAFP) Certification is a professional designation for financial professionals. It is designed to recognize and validate the knowledge, skills, and abilities of individuals in the field of finance. The certification is awarded after successful completion of an examination that tests a candidate’s knowledge and understanding of financial principles and practices.
The IAFP Certification requires candidates to have at least two years of experience in the field of finance. Candidates must also complete a minimum number of hours of continuing education related to their area of expertise before taking the exam.
To get certified, candidates must take and pass an online exam offered by IAFP. The exam covers topics such as financial analysis, risk management, investments, corporate finance, accounting, taxation, and auditing. The exam consists of multiple-choice questions and takes approximately three hours to complete.
The cost for the IAFP Certification varies depending on the type of membership chosen by the candidate. For non-members, the fee is $250 USD; for members it is $175 USD; for students it is $50 USD; and for seniors it is $125 USD.
Once certified, individuals can use their credentials to demonstrate their proficiency in financial matters to employers or clients. They may also be eligible for career advancement opportunities or higher salaries within their organization or industry.
10. National Association of Credit Management Certification
The National Association of Credit Management (NACM) is a professional organization that provides certification for credit professionals. The NACM Certification Program is designed to recognize the knowledge and expertise of credit professionals in the areas of commercial credit, accounts receivable management, and collections. This certification is a great way to demonstrate your commitment to the profession and to set yourself apart from other credit professionals.
It typically takes between 3-6 months to complete the NACM Certification Program. You must meet certain requirements before you can be certified, such as having at least two years of experience in the field or completing an approved course of study. You must also pass an exam that covers topics related to commercial credit, accounts receivable management, and collections.
To get started with the NACM Certification Program, you will need to register online at their website. Once registered, you will receive access to all of the resources needed for certification including study materials, practice exams, and more. After successfully completing all requirements and passing the exam, you will receive your official NACM Certification certificate in the mail.
The cost for the NACM Certification Program varies depending on which level of certification you are seeking (Associate or Professional). The Associate Level costs $495 and includes access to all required materials plus one attempt at taking the exam. The Professional Level costs $795 and includes access to all required materials plus three attempts at taking the exam.
Do You Really Need a Accounts Receivable Manager Certificate?
No, you do not need an accounts receivable manager certificate to perform the duties of an accounts receivable manager. However, having a certificate may make you more attractive to potential employers and can demonstrate your commitment to the profession.
The accounts receivable manager is responsible for ensuring that customer payments are received in a timely manner. This includes collecting on delinquent accounts, setting up payment plans with customers, and monitoring customer payment histories. While there are no specific educational requirements for this position, having a certificate can help demonstrate that you have the necessary skills and knowledge to handle the job effectively. It can also show employers that you are dedicated to the field and have taken the initiative to further your education.
A certification program in accounts receivable management will typically cover topics such as accounting principles, financial analysis techniques, customer relations management software, and legal compliance issues. It may also include coursework on credit management and risk assessment strategies as well as hands-on experience with accounting software programs. A certification program is an ideal way to gain expertise in this field while at the same time demonstrating your dedication to being an effective accounts receivable manager.
In conclusion, while it is not necessary for success in this role, completing an accounts receivable management certification program can help demonstrate your commitment to the profession and set you apart from other job applicants.
FAQs About Accounts Receivable Manager Certifications
1. What is Accounts Receivable Manager Certification?
Answer: Accounts Receivable Manager Certification is a professional certification that demonstrates a person’s proficiency in the field of accounts receivable management. The certification verifies the individual’s knowledge and experience in the areas of accounts receivables, customer service, collections, payment processing and credit management.
2. Who should get Accounts Receivable Manager Certification?
Answer: This certification is best suited for those who are already working in the accounts receivable field or those who have substantial experience in this area. It is also beneficial for those looking to advance their career by gaining additional qualifications and credentials.
3. What are the benefits of Accounts Receivable Manager Certification?
Answer: By obtaining this certification, individuals can demonstrate their expertise and proficiency in comprehensive accounts receivable management processes such as invoicing, collections, customer service and credit management. Additionally, having this certification can help individuals secure better job opportunities and promotions as well as advance their career to higher-level positions within their organization or elsewhere in the industry.
4. What does it take to get Accounts Receivable Manager Certification?
Answer: To obtain this certification, individuals must pass an exam that covers topics such as accounts receivables principles, customer service practices, collections strategies, payment processing systems and credit management policies. Those looking to take the exam are encouraged to study beforehand in order to become fully prepared for all aspects of the test.
5. How long is Accounts Receivable Manager Certification valid for?
Answer: Once obtained, an Accounts Receivable Manager Certification is valid for three years from the date of issuance. Individuals must then renew their certification after three years by taking a renewal exam or completing continuing education credits (CECs).