Top 11 Accounts Receivable Specialist Certifications
This article provides an overview of the best certifications available for accounts receivable specialists, including their requirements and benefits.
Published 18 min read
Certifications for an accounts receivable specialist are important in the job market because they demonstrate a level of expertise and knowledge that employers look for when hiring new staff. In addition to verifying the specialist’s ability to handle day-to-day tasks, certifications also show potential employers that the individual has taken the time to gain specialized knowledge and stay up-to-date on industry trends. This can make a potential employee more attractive to employers and give them an edge over other applicants. Furthermore, certifications can open up opportunities for career advancement and higher pay.
The purpose of this article is to provide an overview of the most beneficial certifications for Accounts Receivable Specialists and how they can help advance their career.
What are Accounts Receivable Specialist Certifications?
Accounts receivable specialist certification is a professional credential that demonstrates a person’s knowledge and proficiency in the field of accounts receivable. It is designed to help those who handle accounts receivable processes, such as billing, collections, and cash management. With this certification, employers can be confident that the individual they are hiring has the necessary skills and expertise to be successful in their role.
The certification program offers an in-depth overview of the fundamentals of accounts receivable and its related activities, including best practices for managing customer payments, reconciling accounts, preparing financial reports, and other essential skills. It also covers topics such as setting up customer records, managing customer disputes and credit risk assessment. The program also provides guidance on how to use software applications related to accounts receivable.
Having an accounts receivable specialist certification can help individuals stand out among other job applicants in the same field. This credential can also provide access to higher-level positions with increased responsibility and better pay. Additionally, having an accredited certificate may open doors to new career opportunities or recognition from employers for their expertise in the area.
Pro Tip: Invest in an accounts receivable specialist certification program that offers hands-on training and includes a comprehensive curriculum. This will ensure that you have the necessary skills to effectively manage accounts receivable processes and increase your marketability as an accounts receivable specialist.
Related: What does an Accounts Receivable Specialist do?
Top 11 Accounts Receivable Specialist Certifications
Here’s our list of the best certifications available to Accounts Receivable Specialists today.
1. Certified Accounts Receivable Professional (CARP)
Certified Accounts Receivable Professional (CARP) is a professional designation offered by the National Association of Credit Management (NACM). It is designed to recognize and promote excellence in accounts receivable management. CARP certification demonstrates a commitment to the highest standards of credit and collections management, as well as a comprehensive knowledge of accounts receivable processes and procedures.
To obtain the CARP designation, an individual must complete an approved course of study and pass an examination administered by NACM. The course typically takes three months to complete and covers topics such as credit analysis, collection strategies, accounts receivable management systems, legal aspects of collections, customer service, and ethics.
The cost to obtain the CARP designation varies depending on the program chosen. Generally speaking, it will cost between $500-$1,000 for tuition and materials. Additionally, there may be additional fees for exam preparation materials or for taking the exam itself.
Once all requirements are met, individuals who have earned their CARP certification will receive a certificate from NACM that can be used to demonstrate their expertise in accounts receivable management.
2. Certified Accounts Receivable Manager (CARM)
Certified Accounts Receivable Manager (CARM) is a professional certification offered by the National Association of Credit Management (NACM). It is designed to recognize individuals who have demonstrated a high level of knowledge and expertise in accounts receivable management. The CARM certification is highly sought after by employers and is considered a mark of excellence in the field.
The CARM certification requires applicants to have at least five years of experience in accounts receivable management, as well as passing an exam administered by NACM. The exam covers topics such as credit analysis, collection techniques, customer service, and legal aspects of accounts receivable management.
To obtain the CARM certification, applicants must submit an application to NACM along with their resume and supporting documentation. After submitting the application, applicants will receive an email from NACM with instructions on how to register for the exam. Once registered for the exam, applicants can take it at any Pearson VUE testing center located throughout the United States.
The cost for taking the CARM exam is $295 for members of NACM or $395 for non-members. If you pass the exam, you will receive your CARM certificate within 4-6 weeks after completion.
3. Certified Credit and Collection Professional (CCCP)
Certified Credit and Collection Professional (CCCP) is a professional certification offered by the National Association of Credit Management (NACM). The CCCP designation is designed to recognize those individuals who have achieved a high level of knowledge, experience and expertise in the credit and collection field.
The CCCP requires applicants to have at least five years of credit and collection experience, as well as passing an exam administered by NACM. The exam consists of 150 multiple-choice questions covering topics such as credit policy, legal aspects of collections, customer service, accounts receivable management, ethics and professionalism.
It typically takes between three to nine months to complete the requirements for the CCCP designation. During this time, applicants must complete a minimum number of hours of approved coursework or training in order to be eligible for the exam.
In order to get the CCCP designation, applicants must first register with NACM and pay an application fee. After registering with NACM, applicants will be sent information regarding their eligibility for taking the exam. Once they are deemed eligible, applicants can then submit their application for the exam along with payment for the examination fees.
The cost for obtaining the CCCP designation varies depending on whether or not you are already affiliated with NACM. For non-members, it costs $650 plus any applicable taxes; however members receive discounted rates which range from $400-$500 plus any applicable taxes.
4. Certified Medical Accounts Receivable Specialist (CMARS)
A Certified Medical Accounts Receivable Specialist (CMARS) is a professional who specializes in medical billing and accounts receivable. This certification is designed to recognize individuals who have developed the knowledge and skills necessary to effectively manage the accounts receivable process within a medical practice or healthcare organization.
The certification requires applicants to pass an exam, which covers topics such as medical coding, billing procedures, reimbursement methods, claims processing, insurance policies, collections and other related topics. The exam consists of 100 multiple-choice questions that must be completed within two hours.
To qualify for the CMARS certification, applicants must have at least two years of experience in medical accounts receivable or related field. Applicants must also submit proof of completion of a minimum of 40 hours of continuing education credits in medical accounts receivable or related fields within the past three years.
The cost for taking the CMARS exam is $295 USD. The fee includes a one-year membership to the American Association of Professional Coders (AAPC). After passing the exam, individuals will receive their official CMARS certificate and wallet card from AAPC.
5. Certified Revenue Cycle Representative (CRCR)
Certified Revenue Cycle Representative (CRCR) is a professional certification offered by the Healthcare Financial Management Association (HFMA). It is designed to recognize individuals who have demonstrated knowledge and proficiency in the revenue cycle process. The CRCR certification is intended for professionals who work in healthcare finance, including those involved in patient access, billing, collections, and reimbursement.
It typically takes between three and six months to complete the requirements for the CRCR certification. This includes completing an online application, passing an exam, and meeting any additional requirements for eligibility.
To become certified as a CRCR, you must first meet certain eligibility requirements. These include having at least two years of experience in healthcare finance or a related field, or having completed an accredited healthcare finance program. You must also have a minimum of 40 hours of continuing education credits in healthcare finance topics over the past two years.
The cost of obtaining the CRCR certification varies depending on your membership status with HFMA. For non-members, it costs $395 to take the exam and $175 for each subsequent year’s renewal fee. For members of HFMA, it costs $295 to take the exam and $125 for each subsequent year’s renewal fee.
6. Certified Accounts Receivable Administrator (CARA)
Certified Accounts Receivable Administrator (CARA) is a professional certification program offered by the National Association of Credit Management (NACM). The CARA program is designed to provide a comprehensive knowledge base and skill set for individuals who work in accounts receivable and credit management. It is intended to help those working in the field become more effective and efficient at their job.
The CARA program consists of four courses: Accounts Receivable Fundamentals, Credit Risk Management, Financial Analysis & Reporting, and Collection Strategies & Tactics. Each course has its own set of objectives, topics, and activities. Upon completion of all four courses, participants will receive their CARA Certification.
The entire program takes approximately 6-8 months to complete depending on how quickly an individual can progress through the material. To get started, individuals must register for the program online or through NACM’s customer service department. Once registered, participants will be given access to the online learning platform where they can access the course materials and exams.
The cost of the CARA program is $1,995 which includes all four courses as well as exam fees. Additionally, there are other fees associated with obtaining your certification such as membership dues and application fees that may apply depending on your circumstances.
7. Certified Billing and Coding Specialist (CBCS)
A Certified Billing and Coding Specialist (CBCS) is a professional who specializes in the coding and billing of medical claims. They are responsible for ensuring that all medical services rendered by healthcare providers are accurately coded, billed, and reimbursed. The CBCS credential is issued through the National Healthcareer Association (NHA).
It typically takes between 6-12 months to complete the requirements for certification as a CBCS. To become certified, individuals must pass an exam administered by the NHA. This exam covers topics such as medical terminology, anatomy & physiology, legal aspects of healthcare, coding systems, reimbursement methods, and healthcare software applications.
In order to sit for the CBCS exam, individuals must meet certain eligibility requirements. These include being at least 18 years old; having a high school diploma or equivalent; completing an approved training program in medical coding/billing; and passing a background check.
The cost of becoming certified as a CBCS varies depending on individual circumstances. The cost of taking the exam is $169 for members of the NHA and $199 for non-members. Additionally, individuals may need to pay fees associated with their training program and background check.
8. Microsoft Dynamics 365 for Finance and Operations, Financials
Microsoft Dynamics 365 for Finance and Operations, Financials is a cloud-based enterprise resource planning (ERP) solution that helps organizations manage their financial operations. It provides users with the tools they need to efficiently manage their finances, including accounts receivable, accounts payable, general ledger, cash management, budgeting and forecasting, fixed asset management, and more.
Dynamics 365 for Finance and Operations Financials can be deployed in the cloud or on-premises. It typically takes about two weeks to get up and running with the cloud version of the software. To get started with Dynamics 365 for Finance and Operations Financials you must first purchase a subscription from Microsoft. The cost of the subscription varies depending on your needs but typically starts at around $100 per user per month.
9. QuickBooks ProAdvisor Certification
QuickBooks ProAdvisor Certification is a certification program offered by Intuit, the makers of QuickBooks accounting software. It is designed to help professionals become experts in the use of QuickBooks and related products. The certification is based on a comprehensive set of skills and knowledge that demonstrate expertise in using QuickBooks for financial management, bookkeeping, and other related tasks.
The certification process typically takes between two and four weeks to complete. To get certified, you must first take an online assessment to determine your level of knowledge about QuickBooks. After passing the assessment, you will be required to complete an online training course which covers topics such as setting up new accounts, managing customers and vendors, tracking expenses, creating reports, and more. Once you have completed the training course, you will be eligible to take the ProAdvisor Certification exam.
The cost of the certification varies depending on the type of course you choose to take. There are several options available ranging from free courses to more expensive ones that include additional features such as live instructor support or access to additional resources. Generally speaking, most courses range from $50-$200 USD.
Once certified, QuickBooks ProAdvisors gain access to exclusive benefits such as discounts on products and services from Intuit partners, invitations to exclusive events and webinars hosted by Intuit experts, access to technical support teams for assistance with product issues or questions about using QuickBooks software effectively, and more.
10. Sage 50 Accounting Certification
Sage 50 Accounting Certification is a professional certification program designed to help individuals demonstrate their knowledge and proficiency in the use of Sage 50 Accounting software. The certification is offered by Sage, a leading provider of accounting and business management solutions.
The certification consists of two exams: the Sage 50 Fundamentals Exam and the Sage 50 Advanced Exam. Both exams are administered online and can be taken at any time. To earn the certification, candidates must pass both exams with a score of 80% or higher.
The Sage 50 Fundamentals Exam covers topics such as setting up a company, creating customers and vendors, entering transactions, managing bank accounts, generating reports, and more. The Sage 50 Advanced Exam covers topics such as customizing forms and reports, using advanced features like budgeting and forecasting, working with multi-currency transactions, using inventory control features, integrating with other applications, and more.
The cost for each exam is $125 USD. It typically takes about two hours to complete each exam; however, it can take longer depending on how familiar you are with the software. Once you have passed both exams with a score of 80% or higher, you will receive your official Sage 50 Accounting Certification certificate in the mail within 6-8 weeks.
11. Xero Accounting Certification
Xero Accounting Certification is a professional certification program designed to help accounting professionals develop the skills and knowledge needed to become a certified Xero Advisor. The certification program is offered by Xero, a cloud-based accounting software provider. The program consists of an online course and exam, which can be completed in as little as 8 hours of study time.
To get the certification, you must first register for the course and pay the associated fee. The cost of the course varies depending on your country of residence but typically ranges from $150 - $300 USD. Once you have registered for the course, you will be provided with access to an online learning portal where you can access all of the materials needed to complete the course and exam.
The course covers topics such as setting up accounts, managing transactions, creating invoices, reconciling accounts, running reports, managing payrolls, and more. After completing the course material and passing the final exam with at least 80% accuracy, you will receive your Xero Accounting Certification.
The Xero Accounting Certification is valid for 3 years from date of completion before needing to be renewed or refreshed with additional training or courses.
Do You Really Need a Accounts Receivable Specialist Certificate?
The answer to this question depends on several factors. It is important to consider your current job and career goals when deciding whether or not an Accounts Receivable Specialist Certificate is necessary. If you are currently working as a bookkeeper or accountant, then the certificate may not be necessary since you already possess the knowledge and skills required for the job. However, if you are looking to advance your career in the field of accounts receivable and want to stand out from other applicants, then obtaining a certificate may be beneficial.
Certificates can provide value in terms of giving you more credibility as a professional and showing employers that you have taken an extra step in your career development. They also give employers assurance that you have acquired specialized knowledge and skills related to accounts receivable management, which they may find valuable when making hiring decisions.
In addition, some employers may require that their employees hold certain certifications before they can be hired or promoted. Therefore, if you are interested in pursuing a career in accounts receivable management, it is worth considering obtaining the relevant certification. Additionally, there are many online courses and programs available that will allow you to gain the knowledge needed to obtain an Accounts Receivable Specialist Certificate without having to take time off work or attend classes in person.
Ultimately, whether or not obtaining an Accounts Receivable Specialist Certificate is right for you will depend on your individual situation and goals. It is important to weigh all of the pros and cons before making a decision.
Related: Accounts Receivable Specialist Resume Examples
FAQs About Accounts Receivable Specialist Certifications
1. What is an Accounts Receivable Specialist Certification?
Answer: An Accounts Receivable Specialist Certification is a professional certification that verifies the knowledge and skills of an individual in accounts receivable processes and procedures. It demonstrates expertise in financial management, bookkeeping, accounting software, customer service, and other related areas.
2. What are the benefits of obtaining an Accounts Receivable Specialist Certification?
Answer: Obtaining a certification can help to demonstrate your knowledge and expertise in accounts receivable processes and procedures to employers. This can lead to higher salaries and more job opportunities. Additionally, having a professional certification provides a sense of accomplishment and confidence in your abilities.
3. How do I become certified as an Accounts Receivable Specialist?
Answer: To become certified as an Accounts Receivable Specialist, you must typically complete a course or program offered by a recognized organization such as the Institute of Certified Professional Managers (ICPM). You may also need to pass an exam in order to receive your certification.
4. What topics are covered on the Accounts Receivable Specialist Certification Exam?
Answer: The topics covered on the exam will depend on which organization's certification you are pursuing; however, generally they include topics such as financial management, bookkeeping, accounting software systems, customer service, collection processes and procedures, problem-solving strategies, communication skills, and more.
5. How long does it take to get certified as an Accounts Receivable Specialist?
Answer: The amount of time required for completion will depend on the organization offering the certification; however, typically it takes several weeks or months depending on how much free time you have available for studying and completing coursework requirements.