Is Accounting & Payroll a Good Career Choice? 4 Valid Reasons to Consider Taking a Payroll or Accounting Course!

Every modern business relying on the skills and expertise of accounting & payroll specialists.

Accounting and payroll professionals can be found in almost every organization throughout the global economy. These professionals help organizations run smoothly, their ledgers are balanced, & their employees are paid correctly and on time. 

Accounting and payroll certification courses teach aspiring professionals the theoretical principles as they learn practical and communication skills to prepare them for the job market. These courses can help aspiring students develop the skills they need to succeed. 

Read on to learn about some of the reasons to enroll in iLead’s accounting and Fundamental Payroll Certification course in Hyderabad. 

Overview 

The accounting and payroll professionals can handle critical functions such as tracking money transactions of an organization, and making sure that every employee gets their pay cheques on time. 

Sounds interesting? Wondering whether accounting & payroll is the right career choice for you or not!

To conclude at an answer, you have to think about some factors like:

  • What is the job role
  • How much money you can make in this profession
  • Scope & What are your opportunities

In this post, you will get all those details and more. Continue reading for more info.

What Do Accounting & Payroll Professionals Actually Do?    

Accounting and payroll includes a wide variety of roles, including bookkeeper’s clerk, accountant, payroll clerk, and accounts payable and assets clerk. Some organizations separate accounting and payroll into two separate functions. In small companies it is customary to combine roles. 

If you pursue an accounting & payroll career, here are some of the responsibilities:

  • General ledger maintenance
  • Processing invoices, purchase, & receipts
  • Verifying & calculating employee earnings 
  • Processing direct deposits & distributing pay cheques 
  • Reconciling bank statements 
  • Preparing records of employment and statements of earnings, tax slips.
  • Communicating with employees, clients, vendors, & managers
  • Creating financial statements 
  • Carrying out general administrative tasks such as filing & handling the mail. 

Earning certification in accounting and payroll from iLead US Taxation or Enrolled agent course training institute in Hyderabad, help in gain key skills and land in their dream job    

How much you can earn in accounting & Payroll?

Earning potential is a key factor while making career decisions. You want to make sure that your job will bring you a decent income. Accountants, bookkeepers and related professionals typically earn between $45,000 and $48,000 in America, according to the Government of Canada Employment Bank. 

With talent and experience, your income can increase significantly. Some accountants and accountants in the US earn more than $78,000. 

 What are your Career Opportunities?   

Career prospects are definitely something you should know beforehand. How easy will it be to find a job after you complete your accounting and payroll training? 

Surveys report that demand for accounting and payroll professionals is expected to remain stable across all regions of the US. And the US government estimates show that accounting and accountancy employment is expected to grow by 12-13% between 2021 and 2025. Therefore, opportunities in this specific field continue to multiply.  

Here are 4 valid reasons to consider when deciding if accounting and payroll is right for you. 

  1. Generous Earning Potential

Professionals who have completed training in accounting and payroll can expect to be paid well after graduation.     

In the US, the average salary for an accounting clerk is around $40,000 per year. One of the main advantages of this career is that experience comes with significant benefits. Experienced accountants can earn up to $60,000 a year. 

There is also the possibility of professional growth as you gain more and more experience. Accounting clerks may eventually move up the corporate ladder and take on new responsibilities as they move up the corporate ladder. 

  1. Accounting & Payroll Professionals are In-Demand     

A big reason to take an accounting, payroll or QuickBook courses in Hyderabad is that many different types of organizations need graduates and candidates with relevant knowledge. As long as businesses, governments, and nonprofits exist, it has been necessary to hire payroll and accounting staff.     

As part of an accounting and payroll clerk career, professionals can work in a variety of fields. Early in your career, you can find jobs in science and technology or finance, insurance and real estate, as well as in industries such as transportation, warehousing, as well as in government and non-profit organizations. This provides relative stability and security for accounting professionals throughout their careers. 

  1. Help you Prepare for Your Career Success

One of the great things about the skills taught in accounting and payroll courses is that they are comprehensive and designed to help you enter the business world with confidence. During this training, students learn a variety of theoretical, practical and communication skills. 

Communication skills are “soft skills” that are essential to working in any industry and are highly sought after by employers.

Financial knowledge & the ability to use technologies such as Quickbooks online software, Sage 50, Microsoft Office Suite and MS Project will help you establish yourself in this career. These skills can help graduates make a name for themselves by adding important qualifications to a resume. During your studies, you can also prepare for success with the support of our career experts team, who can help you find jobs, prepare for interviews, and more! 

  1.  A Great Way to Switch Careers Quickly    

A big benefit of participating in an accounting program and course is that it allows you to dive into a refreshing new career without many years of expensive training. 

iLead’s Accounting and Payroll courses are flexibly designed to impart the best real-time knowledge. Through our short and focused courses, aspirants can gain all the essential skills they need to confidently start a new, exciting, and rewarding career. This means that in less than a year you could graduate and start your dream job! 

Are your career training ready?

Enroll for the iLead’s FPC course in Hyderabad!

Comprehensive Guide to QuickBooks Accounting Professional/QuickBooks ProAdvisor

QuickBooks is one of the most popular & powerful accounting software suites in the current market. What an individual can do is equivalent to whole accountant teams used to do two decades ago!

In the current hi-tech world, many businesses are trying to make the most out of the software, specifically the use: whether it is CRM, accounting or project management software. Nowadays, most of the businesses are packed with distinct features, different versions, customizability, and these tools could often integrate with one another to automate or optimize business operations. A lot of complexities have given rise to a hybrid professional i.e a mix of bookkeeper or accountant & software management specialist known as a QuickBooks ProAdvisor.

A QuickBooks ProAdvisor is usually referred to an accounting/bookkeeping professional who is trained, tested, as well as certified by Intuit on a wide range of advanced, specific QuickBooks’ topics and subject matters. QuickBooks ProAdvisor certification involves comprehensive training, a 2 hour examination where you should score a minimum of 80%, and also an annual recertification exam.

If you are interested to become QuickBooks expert or QuickBooks ProAdvisor, iLead-the best Enrolled agent training institute in Hyderabad, offers a vast range of accounting courses of EAs, CPAs, US taxation courses, FPC and also QuickBooks ProAdvisor certification training in Hyderabad at super affordable packages. 

Who is a QuickBooks ProAdvisor and What They Do?

When you are an entrepreneur, perhaps your finances are critical to survival. Being an entrepreneur or a new small business owner usually means that you work as an accountant for a while. If you know you can’t manage, you’ve run out of time and energy to keep track of all your finances, or you’re just too old to do it yourself; you should consider hiring an accountant, bookkeeper and/or CPA. 

You do not want to create a mess by just hiring the cheapest people you can find. These are your finances they will be dealing with, so you want them to be well equipped and informed without going over your budget. What Makes Accountants, Accountants and/or CPAs Different? 

The answer is that you need to find someone who is a Certified QuickBooks ProAdvisor. QuickBooks ProAdvisor is a person who is trained by Intuit ProAdvisor Certification. With iLead’s extensive QuickBooks ProAdvisor certification training the candidates can gain expertise in QuickBooks Accounting Software to provide independent bookkeeping support and consultation support. 

Working with a QuickBooks ProAdvisor

With QuickBooks Certified ProAdvisor, you will be reviewing and working on your books with someone who is well versed in how QuickBooks works. Anyone who is certified with QuickBooks has taken lessons and courses that have taught them the ins and outs of working with the software.     

In addition, they are passed and certified. These people know how to solve any problem, even solving imbalanced balance sheets and technical problems with bank feeds. Another aspect of the QuickBooks certification is that they can also educate others on how to use QuickBooks. These skills can increase the productivity and efficiency of your business in every department. 

A QuickBooks Certified ProAdvisor is a professional accountant who does not have to be a CPA, but can be a small business advisor or chief accountant. They are experts in QuickBooks programs and accounting theory. With these people, the learning process is more rigorous, developed by Intuit (the company that developed QuickBooks). 

To get certified, they took several courses and passed a number of tests. To maintain its status, QuickBooks Certified ProAdvisor must take a certification exam each year. This means that they are up to date with the latest software developments. 

Benefits of Hiring a Certified QuickBooks ProAdvisor

When you have a certified QuickBooks ProAdvisor on your team, you have someone who is well versed in accounting and accounting services. They may simply act as outsourced bookkeeping for your small and/or medium-sized business. 

The following are some of the capabilities & benefits they bring:

  • Invoicing customers
  • Paying bills 
  • Reconciling your accounts 
  • Answer any technical questions 
  • Set up & customization of your QuickBooks software 
  • Troubleshoot technical issues/customizations 
  • Receive discounts on QuickBook Products
  • Notified with all new products & updates 

These professionals are your one stop shop for exceptional accounting and/or bookkeeping needs. If your consultant is also a certified public accountant, you may receive monthly/quarterly reports on the preparation of books and tax returns. This way, you can finally plan your tax season well with the same person. Your worries will be lessened knowing that these specific advisors also enforce the entire IRS code. 

QuickBooks Online

QuickBooks Online provides entrepreneurs and business owners with a convenient remote access option. Also gives accountants or your bookkeepers powerful access to information on the go. QuickBooks online service is the best-fit for service-based businesses.

QuickBooks accounting software helps you to create invoices, generate GST reports and much more with QuickBooks.

Features 

  • Cloud accounting 
  • Invoicing
  • Online banking 
  • Accounting Reports 
  • Cash Flow Management 
  • Time Tracking
  • Seamless collaboration to multiple users

There are many small-business accounting software solutions available in the market, but which version is right for you? With payroll or without? On-premise or cloud? Choose wisely.

QuickBooks Self-Employed

QuickBooks Online

QuickBooks Online ……..are some of the most used QuickBooks Software products.

QuickBooks Accountant is a special program developed by Intuit QuickBooks to meet the needs of accounting professionals. 

It allows you to perform and manage accounting tasks for multiple companies in one place. You can issue invoices, pay stubs, manage projects, access customer accounts, such as to find and correct input errors, and more with one product. Signing up for QuickBooks Accountant doesn’t take long. 

You will be prompted to enter information that is usually requested when registering on other websites. This includes your name, email address, and your company name. 

Once registration is complete, you will be granted access to the QuickBooks Online Accountant. All you need to sign in to your account is Internet access and your QuickBooks Online Accounting credentials.

Bottomline 

Working with a QuickBooks Certified Professional ProAdvisor versus someone just a QuickBooks Certified will make a big difference. Not only will you receive various privileges and perks, but you will also get peace of mind when it comes to the finances of your business. You will be working with a professional who continues their accounting, bookkeeping and QuickBooks recertification software training yearly. 

At iLead, we have certified professional QuickBooks consultants who are happy to help you and your business get back on your feet or save your finances. If you have any questions, please call us now!

Fundamental Payroll Certification—What Are Your Career Opportunities & How Can You Advance on the Payroll Career Path?

We all strive for a position that provides future security, & it seems that getting certified in payroll is all that you need. But how to become a payroll professional & what are the various job roles you can excel are the ruling questions here. Well, the iLead-Fundamental Payroll Certification training institute in Hyderabad has provided you with the answers to these questions in this article.

Keep reading to know the scope of payroll and various job roles in the payroll profession. Here is an introductory guide to a great payroll career path.

Payroll Professionals

Payroll personnel are an important part of any business. This team ensures that employees are compensated in the correct amount and on the due date. Payroll team should also have some understanding of general accounting practices. Read on to learn about some of the common responsibilities of payroll professionals.

Payroll is a quintessential aspect of any business and getting it done right for both employees and the company is crucial. That is where the payroll staff comes in.

A payroll professional typically manages as well as oversees all payroll aspects of a company. Payroll professionals handle discrete tasks right from collecting bank & direct deposit information to handling employee paper checks, from keeping up on taxation to maintaining accurate reports and much more. Payroll professionals are often referred to do it all, making this role a crucial part of all departments for all businesses.

Are you interested in any position in payroll? Payroll staff assistant to manager, auditing payroll reports, and payroll specialists to lead payroll administrators. There are multiple positions within the payroll profession, and these positions provide the payroll accounting & administrative duties to support the payroll department. You can consider the following payroll positions.   

Payroll personnel report to the payroll manager or supervisor and assist in coding, publishing and reviewing payroll reports. There are various positions among the employees in the payroll department such as Payroll Technician/Assistant, Payroll Specialist, Payroll Administrator and Payroll Lead Administrator. These positions provide all accounting and payroll functions to support the payroll department. Here are some salary positions you might want to consider.

Payroll Technician or Assistant   

Payroll Technician/Assistant is an entry-level position that is responsible for office duties such as typing and filing. For example, a college payroll assistant position will be responsible for maintaining the confidentiality of human resources, records, and payroll information. This person will assist the Student Employment Coordinator with federal on-the-job training and apprenticeship programs.

For this particular college position, an HR degree with at least one year of experience in HR or payroll is preferred. Basic knowledge of Excel, Word and Access is required. iLead offers placement assured FPC, quick books, and US taxation courses in Hyderabad which are led by industry tax experts

You can raise your career graph with the best FPC and enrolled agent certification training programs where we offer very affordable packages.

Payroll Specialists

Payroll professionals range from entry level to management positions. They are a very important part of the payroll staff and report to the supervisor or payroll manager. In the daily work of a payroll specialist, you must review and analyze payroll forms and reports to check their accuracy and make any necessary corrections. Let’s say you work as a payroll specialist for a large payroll company that other companies use to outsource payroll.

You will be the main contact person for the client. You must research and offer solutions to clients, build relationships to establish trust and increase awareness of the company’s services. Companies prefer that you have strong math and problem-solving skills, and some prefer an accounting or HR degree.

The American Payroll Association Basic Pay Certification Exam is for those who wish to demonstrate a certain level of knowledge in payroll matters. Payroll experience is not required to take the exam. However, some employers require the appointment of an FPC for certain payroll positions.

Payroll Practitioner

An entry-level payroll specialist develops and maintains employee payroll records. Check your time records, post new employees and tax changes to the system, and make various changes. His duties are generally consistent with minor deviations from normal protocol. The mid-level payroll specialist handles both record keeping and payroll processing functions.

 iLead is the most sought after edutech platform where you can get comprehensive FPC and other tax courses like enrolled agent training courses in Hyderabad with which accounting aspirants can unleash the best U.S tax representative opportunities.  

Calculation of payroll and deductions, as well as processing advances and layoffs on wages. The Senior Payroll Specialist performs basic and mid-level duties in addition to other duties. Calculate and create general ledger entries, reconcile payroll and deduction amounts, calculate and resolve imbalanced accounts, and complete and archive payroll tax returns. It also prepares management reports and performs complex calculations such as payroll collections and withdrawals.

The FPC designation is suitable for beginner and intermediate levels; however, for the senior level, the designation FPC or Certified Payroll Specialist may be preferred.

Payroll Accounting                          

A payroll accountant/analyst documents and manages a company’s payroll accounts. He ensures that these accounts are reconciled with the company’s financial statements. Assists with internal and external audits and assists the payroll department with complex payroll issues.

Preparation of accounting reports, exhibitions and summaries. Decides whether the accounting system needs new accounts and changes. The designation FPC or CPP is generally preferred.

Payroll Administrator

The Records/Benefits Administrator maintains payroll records and manages employee benefits. This includes vacation, sick leave, personal and bereavement policies, and leave and vacation policies.   

Calculate payroll deductions for voluntary benefits such as health and accident insurance, flexible spending accounts, retirement plans, and employee stock purchase plans. Work with third-party insurers and benefit administrators to help implement programs. Typically, FPC or CPPs are preferred.

Payroll Data Analyst

Systems analysts prepare program specifications for computerized payroll systems. Evaluates and validates specifications developed by programmers, and installs and implements internal company systems or systems purchased from external vendors.

The key to this role is remuneration experience as well as a deep understanding of industry regulatory issues. You will also need to demonstrate strong math and problem solving skills, as well as the ability to model data using more advanced Microsoft Excel features. Experience with cloud-based payroll technology may be an advantage and familiarity with enterprise resource planning (ERP) systems may also be beneficial for this position.

Payroll system or data analysts review potential systems and prepare relevant reports for recommendations and changes. Assists in documenting system operations and providing appropriate training to payroll personnel. The designation FPC or CPP is generally preferred.

Payroll Clerk

Managed by an elderly professional, the payroll clerk handles day-to-day duties such as issuing payrolls and answering questions from employees. In smaller organizations, this role may overlap with basic accounting and/or human resources (HR) tasks.

Starting salaries for new hires with little or no payroll experience can be expected to be around $33,500, according to the latest salary guide. Professionals with strong skills and a few years of relevant experience start at around $62,250. And of course, salaries may vary by location.   

Payroll certifications, such as the American Payroll Association’s (APA) Basic Fundamental Payroll Certification (FPC), can help your application stand out.   

Payroll Manager or Supervisor

After about 5 years down the payroll career path in accounting, an individual would be ready to take the lead. Responsibilities at the payroll manager level involve maintaining, budgeting, compliance, partnering with other divisions, and guiding departmental policy, and advising senior executives.

The next step in a payroll career is the role of coordinator or administrator who is responsible for more complex payroll tasks. A typical day for this professional may include compiling payroll reports, preparing returns, reconciling ledgers, checking compliance, and making sure taxes are paid properly. There may also be responsibilities related to onboarding and employee rewards.

 Related Jobs  

You may be working for a fee. For example, payroll consultants make appointments with potential and existing clients and introduce them to payroll products and services. Account representatives provide technical and non-technical payroll support to payroll office clients.

The FPC designation can help strengthen your application, but it does not automatically entitle you to work. In addition to the FPC designation, the employer may require several years of work experience and a degree in a related field.

To conclude, becoming a certified payroll specialist gives you knowledge, expertise and confidence to move up in your career ladder. Moreover, the FPC certification helps you command a higher salary package as per the national payroll recruiting firms.

Wishing you all the best for your certification!

Learn & improve your skills with our online FPC training courses now!

Comprehensive Guide to FPC-Fundamental Payroll Certification.

Looking to level up your payroll career? Getting a Fundamental Payroll Certification can help!

Earning a payroll certification can help you demonstrate your payroll expertise, and advance your career as a payroll professional and enhance your standing within the accounting profession.

If you want to be a payroll professional, it could be smart to attain certification that allows you to have the skills to do a good job. The iLead Tax Academy-the best FPC and enrolled agent training institute in Hyderabad for real-time training and interactive course content.

Our FPA training courses in Hyderabad are supported by our well-researched, unique, and industry approved course material that would assist aspirants in gaining full knowledge & desired insight into their desired subject.

This detailed guide covers everything you need to know about the various payroll certifications you can earn and how to apply for them. In addition, you will discover important strategies to help you avoid certification exams in payroll.

Why Payroll Certifications are So Important?

The problem with payroll is that it’s hard to prove how good you are at what you do. It’s not like you can put together a portfolio of all the numbers you’ve calculated. After all, a company’s financial information must be kept confidential.

However, you can improve your knowledge and skills and then finally validate your experience by taking the Payroll Certification Exam. Show them that you are really good at understanding the latest rules, laws and procedures. You can also get a higher position based on your certification and therefore a higher income.

Overall, a payroll certification demonstrates your commitment to your career as well as the quality of your education and experience.

If you are hoping to become a Certified Payroll Specialist, you will need to select the appropriate certification and pass an exam.

 The American Payroll Association (APA) offers two main types of certification, FPC (Fundamental Payroll Certification) and CPP (Certified Payroll Professional). Some online payroll services also offer their own tool-specific certificates.

Fundamental Payroll Certification (FPC)   

The FPC exam is designed for entry-level tax professionals who wish to demonstrate basic payroll skills. By the time you pass the exam, you may already be in a payroll specialist, consultant, or similar position that supports payroll administration. There are no specific criteria required to pass the FPC exam.

The exam includes the basics of payroll.

  • Core payroll concepts
  • Compliance/Research & Resources
  • Calculation of the Paycheck
  • Payroll Process & Administration, & Supporting Systems
  • Payroll Administration & Management
  • Audits
  • Accounting

Guide to Fundamental Payroll Certification

The FPC helps payroll professionals be aware of all applicable payroll laws and have a basic understanding of payroll functions.

If you choose to keep your paychecks internally, you can require your payroll staff to be FPC certified or if you already have specialists who are not certified. The FPC helps ensure that your payroll professionals are aware of all applicable payroll laws and have a basic understanding of payroll functionality, including the ability to work with payroll software.

What is the Fundamental Payroll Certification?

FPC is a certificate issued by the American Payroll Association. Anyone can earn a certificate, no special registration or qualification is required, but participants must pass an exam.

There are two windows for taking the exam each year, one in the fall and one in the spring. Participants must apply for the exam and then register to take the pre-approved exam. The exam fee is $450.

What does the exam include?

  The FPC exam usually contains seven content areas as follows:

  • Core payroll
  • Compliance
  • Payroll Administration
  • Paycheck calculation
  • Audits
  • Accounting 
  • Payroll processes & Supporting Systems

Since laws change all the time, compliance questions and topics are limited to a specific set date. Laws that were established or changed in the middle of the year are not reflected in the exam.

Preparation for the Exam   

The American Payroll Association offers online training, webinars, lectures, books, online materials and study groups. Some websites offer practice tests, flashcards, and study guides. Participants are encouraged to use more resources to prepare for the exam.

iLead offers the best online FPC training courses and also US taxation courses in Hyderabad which are designed to meet the aspirants’ career requirements.

iLead’s finance & payroll expert team comprises leading professionals with extensive industry-recognized experience in managing, taxes, payrolls, & financial records of multinational companies. Our expert instructors have developed unique training methods to help aspiring candidates enhance their knowledge to calculate employee’s earrings & federal & state payroll taxes.

Participants should allow themselves approximately 12 weeks to prepare for the FPC exam. This means that participants must begin preparing for the exam prior to applying or registering to ensure success.

Taking the Exam

Three hours is the time allotted for the FPC exam. Test takers are asked to arrive approximately 30 minutes early for check-in and to bring an approved calculator. Test participants can find out immediately after the exam whether they passed the exam or can find out in which areas they received negative results if they failed.

FPC Recertification    

Because laws change quickly, FPC is limited. In some cases, certified individuals may be re-certified as part of continuing education. However, if continuing education does not meet APA criteria, certificate holders must retake the FPC exam before their current certification expires in order to retain continuing certification.

Receiving Certification

After passing the exam, you can order FPC and PIN certification. Individuals can obtain an APA ID and password by emailing APA Customer Service or by calling them. Once the name that will be printed on the certificate has been verified, a confirmation email will be sent and the certificate and pin will be mailed within approximately four to six weeks.

Applying for a master payroll certification can help your payroll employees keep up with payroll processing and compliance. However, payroll software can still help prevent daily mistakes and speed up payroll processing.

Visit our FPC page to find out how we can help you earn the perfect payroll certification!

Step By Step Process to Obtain the FPC in Payroll   

How to Get FPC on Payroll!

The Basic Compensation Certification Designation or FPC is a professional certification administered by the American Payroll Association (APA). FPC is a way for entry-level sales professionals, consultants, analysts and sales reps to demonstrate their knowledge of key payroll concepts and systems in order to gain credibility in their field. Individuals interested in becoming an FPC do not need to be an APA member to apply.

  1. Obtain and view the FPC Exam Candidate Handbook for a general overview of the exam process, content, and learning resources offered. It can be downloaded by visiting americanpayroll.org.
  1. Complete and submit the FPC Certification Application for the exam listed in your handbook, which can be done online, by fax, or by mail through the APA. A non-refundable application fee around $320 (for APA members) and $395 (for non-members), which must be paid with the application.
  1. Register with Pearson VUE and choose the exam date and time that best fits your schedule and gives you enough time to study & prepare. The examination windows are open in the spring, usually from the end of March to the end of April, and in the autumn, usually from the beginning of September to the beginning of October. After registering, you can view a list of specific dates and times available to register for the exam.
  1. Prepare for the FPC exam by choosing the learning format that best suits your learning style. APA offers self-paced and structured resources including books, lectures, webcasts, and audio seminars. A list of suggested learning resources can be found in the FPC exam guide. Exam content includes payroll fundamentals, accounting systems, processes and concepts.
  1. Arrive at the exam center at least 30 minutes before your scheduled exam date and make sure you have two forms of identification, such as your driver’s license and social security card. The FPC exam consists of 150 multiple-choice questions that must be completed within three hours. At the end of the computerized examination, candidates are informed of their score.

Bottom line    

The payroll industry is dynamic and constantly changing. Every year, changes in federal, state, and local legislation affect how payroll is administered. Payroll professionals must keep their knowledge up to date to avoid heavy fines for noncompliance.

Enroll in our US Federal Payroll Taxation program and we’ll help you deepen your knowledge and prepare for this year’s FPC certification exam!

Do you want to increase the level of your salary career in accounting?

We can help you get the Federal Payroll Certification! For more details, visit www.ileadtaxacademy.com