How to Become an Accounts Payable Specialist

In order to become an in-demand accounts payable specialist, you will need a minimum of a high school diploma and experience in the field. 

Education  Accounts Payable Specialist 

Although you can become an accounts payable specialist without a bachelor’s degree, when competing for jobs, someone with at least an associate’s degree (AA) will have an advantage over the individual with only a high school diploma. There are a few ways to become knowledgeable about accounts payable/bookkeeping. Community colleges offer courses in accounts payable/bookkeeping, as do vocational schools, and online platforms. There are a plethora of ways to take free classes and enroll in workshops and webinars on the internet. (Beware, do not confuse these courses with degrees granted by accredited degree-granting universities and colleges.) 

If you would, however, like to further enhance your desirability as a job candidate, consider working on an associate’s degree or a bachelor’s degree. Whether you enroll in an AA program, or a BA program, here are some of the degrees you will want to research.

1. Associate’s or Bachelor’s Degree in Accounting

These programs will teach you the fundamental accounting principles, financial reporting, bookkeeping, and accounting software. You will graduate with an understanding of the financial aspects of business operations, which is essential for an accounts payable specialist.

2. Associate’s or Bachelor’s Degree in Business Administration 

A degree in business administration will equip you with an understanding of business principles, such as finance, management, marketing, and operations. Courses in finance and accounting within this program can be particularly useful for a career in accounts payable.

3.  Associate’s or Bachelor’s Degree in Finance

   These degrees will focus specifically on financial management, investment analysis, financial planning, and related topics. However, in-depth knowledge of financial concepts and practices are extremely relevant to accounts payable roles.

Become Certified & Experienced While Networking

Whether or not you earn a formal degree, you can supercharge your chances of success in the field by joining a trade association or professional organization. Many of these entities embrace those seeking to enter the field, and some have mentorship programs, free educational opportunities, certification options, job opportunities/job boards, internships, etc. Begin to look into the various ways to enter the field through membership in one of these professional groups, and you will be able to bypass many of the hurdles you will encounter without their assistance. Here are 3 well-respected groups to investigate (descriptions are provided in their own words).

1. Institute of Finance & Management (IOFM)

“We offer certifications such as Certified Accounts Payable Specialist (CAPS), Certified Accounts Payable Professional (CAPP), and Certified Accounts Payable Associate (CAPA). We provide resources, webinars, conferences, and networking opportunities for accounts payable professionals.” Their website details upcoming events, for example two conferences/expos (spring & fall), as well as events at local chapters. Free webinars include topics such as: Best Practices for Bank Account Verification, IOFM Virtual Demo Day, Accelerate Your Order-To-Cash Process with Task Automation and Online Payments, Paying Non-Resident Alien Individuals for Services: Tax Withholding and IRS Reporting, A Hands-On Guide to AI Adoption in Finance: Strategies for Reducing Risk and Increasing ROI, and Slash Your Day’s Sales Outstanding (DSO) with AI-Powered Accounts Receivable, just to name a few.

2. American Institute of Professional Bookkeepers (AIPB)

“AIPB provides resources, certification programs, and continuing education opportunities for bookkeepers, including those specializing in accounts payable. We offer the Certified Bookkeeper (CB) designation, which covers various aspects of bookkeeping, including accounts payable. The 7 benefits of membership are: 

1. You stay up to date on bookkeeping and payroll regs, rules and procedures—in The General Ledger Newsletter, free.
2. You get answers to your personal bookkeeping and payroll questions on our Member Telephone Answer Line, free.
3. You get 3 special reports, free: Better Bookkeeping in 15 Minutes—the best bookkeeping tips of 2023, 21 Key Bookkeeping Changes in Current Tax Law, and The Bookkeeper’s Guide to Internal Controls.
4. You get special member discounts–Quickly increase your skills, knowledge–and marketability and save up to 34% on UPS®, freelancers save 20% on professional liability insurance from a top insurer.
5. You save on Certification. You don’t have to join to become a Certified Bookkeeper (CB)—but as a member you save enough to pay for your membership.
6. You save up to 50% on an Introductory AIPB Membership.
7. You get a Certificate of Membership, suitable for framing. Demonstrates your professional affiliation to colleagues and co-workers—or clients and prospects.”
8. CAPP (Certified Accounts Payable Practitioner) 

“CAPP is The Global Marker of Excellence in Accounts Payable. CAPP is a program which educates learners on the overall function and responsibility of the Accounts Payable department. It prepares learners for performing the role of an Accounts Payable professional from entry, up to and including management level. Those who complete the CAPP Certification will gain an advanced understanding of Accounts Payable processes and how Accounts Payable functions can become more risk aware and improve their processes.”

Job Outlook For Accounts Payable Specialist

According to the U.S. Bureau of Labor Statistics (https://www.bls.gov/), Accounts Payable Specialists have less than average opportunities for the time period spanning 2022-2032. The field is declining -6% per year, which is in contrast to the 6% average growth rate with other professions. However, in spite of this, government experts predict that each year over 183,900 openings will become available (between 2022-2032), due to replacing workers who leave the profession, leave the work force and/or retire. Those openings are more than twice the openings currently experienced in the majority of professions. In 2022 there were 1,735,800 individuals working as accounts payable specialists. The median pay per year was $45,860, while the median hourly wage was $22.05. (As a reminder, the “median” amount is not an average, it is the middle value of a dataset. For the U.S. BLS definition go to: https://www.bls.gov/cps/definitions.htm#medianearnings).

Start Now!

You aspire to enter a competitive profession—be prepared to embrace the challenge! Look into earning an associate’s degree or a bachelor’s degree. Check out online opportunities and free instruction. Become acquainted with the different certifications, jobs, experience and mentoring offered by well-respected professional organizations and trade associations. By taking these steps you will develop self-confidence and a thirst to success. You can do this! Begin today!