There are plenty of reasons to get an accounting diploma rather than a degree.
A diploma takes less time and money, and it emphasizes practical skills over abstract theory. It’s all about helping you prepare for the real world of work.
But here’s the big question: What career options will you have after graduation?
The truth is that an accounting diploma can qualify you for a number of jobs that come with decent incomes and are expanding rapidly across Manitoba.
In this post, we explain what’s covered in an accounting diploma program and give details on three of the top career options for new grads: accounting technician, accounts payable/receivable clerk, and payroll administrator.
Find out what to expect in training and explore the post-grad possibilities.
WHAT DOES AN ACCOUNTING DIPLOMA TEACH YOU?
An accounting diploma offers streamlined training that’s designed to help you gain the skills employers want in entry-level hires.
Programs are fairly short. While a degree is a four-year commitment, you can earn an accounting diploma in less than 12 months. The accounting and payroll course at Herzing College Winnipeg is just 10 months long.
Coursework typically include training in:
☑️ Standard accounting principles and procedures
☑️ Microsoft Office applications (especially working with formulas and functions in Excel)
☑️ Common accounting software packages like QuickBooks and Sage
☑️ Payroll processing and compliance☑️ Business math
Once you complete your diploma, you’ll be well prepared for in-demand accounting jobs like the ones listed below.
ACCOUNTING CAREER #1: ACCOUNTING TECHNICIAN
This is a common entry-level role for new graduates.
Accounting technicians work under the direction of more experienced accounting personnel. They have a wide range of tasks related to payroll and bookkeeping.
If you take on this role, you’ll likely do a little bit of everything. Accounting technicians are commonly responsible for:
☑️ Maintaining the general ledger
☑️ Preparing account summaries and reconciliations
☑️ Calculating and processing payroll
☑️ Filling out and submitting tax remittance forms
☑️ Completing personal or corporate tax returns
☑️ Issuing invoices and processing payments
☑️ Preparing financial statements and reports
Career outlook: Job postings for accounting technicians in Manitoba were up 10% in the third quarter of 2021 compared to a year earlier.
And the provincial government estimates that employment in this field will grow by 19% between 2020 and 2025.
Salary: According to the Government of Canada Job Bank, accounting technicians in Manitoba earn a median salary of about $47,000.
The highest-paid technicians in the province make more than $75,000.
ACCOUNTING CAREER #2: ACCOUNTS PAYABLE/RECEIVABLE CLERK
Accounts payable clerks focus on the money a company owes to its vendors or suppliers. Accounts receivable clerks deal with the money owed to a company by its customers.
Some organizations have separate teams for these two functions. Smaller companies often combine them into a single role.
Typical tasks for an accounts payable clerk include:
☑️ Verifying purchase orders, invoices, and statements
☑️ Reconciling corporate credit cards to expense reports
☑️ Creating and maintaining vendor files
☑️ Processing vendor invoices and scheduling payments☑️ Controlling and disbursing petty cash
An accounts receivable clerk handles tasks like:
☑️ Preparing and sending out invoices
☑️ Reconciling sales and inventory reports
☑️ Reaching out to customers regarding overdue invoices
☑️ Applying payments to customer accounts
☑️ Preparing bank deposits and posting cheques
Career outlook: Because of their role in managing company cash during the uncertainty of the pandemic, accounts payable/receivable clerks ranked fifth on Randstad’s list of the top jobs in Canada for 2021.
Looking ahead, the Manitoba government expects opportunities for these clerks to grow by 18% through 2025.
Salary: In Manitoba, accounts payable/receivable clerks make about $42,000 as a median salary, according to Job Bank data.
Some clerks in the province earn over $58,000.
ACCOUNTING CAREER #3: PAYROLL ADMINISTRATOR
Payroll administrators are responsible for making sure employees get paid the correct amount at the correct time.
They collect and verify data to figure out what each employee is entitled to in terms of wages and benefits. They also ensure the company follows payroll regulations.
Common tasks for payroll administrators include:
☑️ Gathering and maintaining employee information
☑️ Verifying each employee’s attendance and hours worked
☑️ Calculating earnings (including vacation pay, bonuses, and commissions) and deductions (including taxes, Canada Pension Plan contributions, and Employment Insurance premiums)
☑️ Processing new hires and terminations
☑️ Preparing statements of earnings, tax slips, and Records of Employment
☑️ Answering questions from employees and managers
Career outlook: Payroll administrators have one of the most in-demand accounting jobs in Canada, according to Randstad.
And employment of payroll administrators is expected to expand by 18% in Manitoba over the next few years, according to provincial government estimates.
Salary: The Job Bank says payroll administrators in Manitoba earn about $52,000 as a median salary.
At the high end, salaries can exceed $68,000.
THINK AN ACCOUNTING DIPLOMA IS RIGHT FOR YOU?
Take a look at the accelerated accounting course offered by Herzing College Winnipeg.
It takes only 10 months to complete. Training is available both on campus and online.
Students get comprehensive training in accounting and payroll software, procedures, and regulations. They also get real work experience through an included 6-week internship.
Click below to learn more about the accounting program and chat live with an Admissions Advisor. We’re here to help!