After finishing your N6 Financial Management qualification, you have several career choices. This qualification gives you skills in finance, accounting, budgeting, and management, which can help you find entry-level finance jobs or keep studying for higher levels.
You might become a Financial Administrator, Bookkeeper, or Accountant. Each job has different responsibilities, pay, and skills needed. Here’s a look at each option.
Financial Administrators
With an N6 Financial Management qualification, you can work as a Financial Administrator. Financial Administrators keep track of a company’s money, record transactions, and create reports. They help make sure the company’s finances are organised and follow the rules.
Duties of a Financial Administrator:
- Prepare and Update Financial Records: Financial Administrators keep records of transactions, payments, and receipts.
- Assist with Budgets: They help create and manage budgets, tracking spending to make sure it stays within limits.
- Monitor Income and Expenses: They check the company’s income and expenses, making sure transactions match the budget.
- Ensure Compliance: They ensure the company follows financial laws and policies.
How Much Does A Financial Administrator Earn?
According to sources like Indeed and PayScale, Financial Administrators in South Africa earn between R15,000 and R30,000 per month. Salaries depend on experience, location, and the company.
How Do I Know If Being A Financial Administrator Is Right For Me?
Being a Financial Administrator might be a good choice if you enjoy working with numbers, being organised, and paying attention to details. Financial Administrators need to keep records accurate and follow guidelines closely. If you like helping a team and following clear steps, this might be the right job for you.
What Skills Does A Financial Administrator Need?
Here are some important skills for Financial Administrators. These skills help Financial Administrators stay accurate, organised, and effective in their role:
| Skill | Why It Matters |
|---|---|
| Attention to Detail | Helps spot mistakes and keep records correct. |
| Organisational Skills | Keeps financial records and documents in order. |
| Basic Math Skills | Needed for managing budgets, expenses, and income. |
| Communication Skills | Helps explain finances and work well with the team. |
Bookkeeper
Another job option with an N6 Financial Management qualification is Bookkeeper. Bookkeepers keep financial records for businesses, making sure transactions are recorded properly.
Duties of a Bookkeeper:
- Record Financial Transactions: Bookkeepers record transactions like purchases, sales, payments, and receipts.
- Organise Financial Data: They organise data so the finance team or management can access it easily.
- Prepare Financial Statements: Bookkeepers create reports, like income statements and cash flow reports.
- Manage Invoices and Payments: They track and organise invoices, ensuring payments are received on time.
Different Types of Bookkeeping
Bookkeeping helps companies track their money and plan for the future. Here are a few of the different types of bookkeeping:
- Single-Entry Bookkeeping
- Double-Entry Bookkeeping
- Cash-Based Bookkeeping
- Accrual-Based Bookkeeping
- Virtual Bookkeeping
- Forensic Bookkeeping
Single-Entry Bookkeeping
Single-entry bookkeeping is a simple method where each transaction is recorded only once. This method is often used by small businesses with basic financial needs. It’s like keeping a checkbook register, where you record money in and money out.
Double-Entry Bookkeeping
Double-entry bookkeeping is more detailed. In this method, each transaction is recorded twice: once as money coming in (debit) and once as money going out (credit). This helps keep records balanced and makes it easier to spot mistakes. Most businesses use this method.
Cash-Based Bookkeeping
In cash-based bookkeeping, transactions are only recorded when money is actually received or spent. This is straightforward and works well for small businesses with simple finances, as it only tracks cash flow (money coming in and going out).
Accrual-Based Bookkeeping
Accrual-based bookkeeping records transactions when they are earned or owed, even if the money hasn’t been received or paid yet. This method gives a more accurate picture of a company’s finances over time, as it shows both income and expenses as they happen.
Virtual Bookkeeping
Virtual bookkeeping is done online. Bookkeepers use software to record transactions, and clients can access their financial information anytime. This is useful for companies that don’t need a bookkeeper to be in the office.
Forensic Bookkeeping
Forensic bookkeeping focuses on investigating financial records to find errors, fraud, or missing money. Forensic bookkeepers help when there are legal questions about a company’s finances, and they often work with law enforcement.
How Much Does A Bookkeeper Earn?
According to Indeed and PayScale, Bookkeepers in South Africa earn between R10,000 and R25,000 per month. Salaries vary based on experience, company size, and location.
In South Africa, bookkeepers’ earnings vary based on their specialization and experience. Here’s an overview of average monthly salaries for different types of bookkeepers:
| Type of Bookkeeper | Average Monthly Salary (ZAR) |
|---|---|
| General Bookkeeper | R15,410 |
| Junior Bookkeeper | R9,665 |
| Senior Bookkeeper | R20,860 |
| Full Charge Bookkeeper | R19,527 |
Note: These figures are approximate and can vary based on factors like experience, location, and company size.
- General Bookkeeper: Manages daily financial transactions and records.
- Junior Bookkeeper: Assists with basic bookkeeping tasks under supervision.
- Senior Bookkeeper: Oversees complex financial records and may supervise junior staff.
- Full Charge Bookkeeper: Handles all accounting needs of a company, including preparing financial statements.
These roles are essential in maintaining accurate financial records and ensuring compliance with financial regulations.
How Do I Know If Being A Bookkeeper Is Right For Me?
Bookkeeping might be a good fit if you like working with numbers, staying organised, and following a set routine. Bookkeepers need to be detail-oriented, accurate, and able to manage numbers. If you enjoy keeping things in order and making sure records are correct, this could be a good career for you.
What Skills Does A Bookkeeper Need?
Bookkeepers need certain skills to do their job well. These skills help Bookkeepers organise financial information and make sure everything adds up. Here are some key skills:
| Skill | Why It Matters |
|---|---|
| Attention to Detail | Helps keep records accurate and avoid mistakes. |
| Basic Math Skills | Needed to handle transactions and make sure amounts are correct. |
| Time Management | Important for meeting deadlines and keeping records updated. |
| Computer Skills | Many bookkeepers use software, so computer skills are useful. |
Accountant
An N6 Financial Management qualification can also lead to a career as an Accountant. Accountants help manage a company’s financial records, create budgets, and give advice to management on financial decisions.
Different Types of Accountants
Let’s check out the different types of accountants and their duties. There are several types of accounting, such as:
- Corporate Accounting
- Public Accounting
- Government Accounting
- Forensic Accounting
Corporate Accounting
Corporate Accountants work within a business to manage its finances. They help the company keep track of its money and follow its budget.
Duties of a Corporate Accountant:
- Prepare Financial Statements: Corporate Accountants prepare reports on the company’s finances, like income and expense reports.
- Monitor Budgets: They track company spending to ensure it stays within the budget.
- Report Financial Performance: They share financial reports with company leaders to help with business decisions.
- Ensure Compliance: They make sure financial practices follow legal and ethical rules.
Public Accounting
Public Accountants work with clients, such as businesses and individuals, to help them with their finances. This includes preparing tax returns, auditing records, and offering financial advice.
Duties of a Public Accountant:
- Prepare and File Tax Returns: Public Accountants handle tax documents for businesses and individuals.
- Audit Financial Records: They check clients’ records for accuracy and compliance.
- Provide Financial Advice: Public Accountants advise clients on managing their finances.
- Help with Compliance: They ensure that clients follow tax laws.
Government Accounting
Government Accountants manage public funds and ensure government agencies use money correctly. They help keep track of spending and ensure funds are used according to budgets.
Duties of a Government Accountant:
- Prepare Financial Reports: They create reports showing how government money is spent.
- Monitor Public Spending: They ensure spending follows budget limits.
- Identify Waste: They find areas where money could be saved and suggest improvements.
- Ensure Compliance: They make sure government spending follows rules.
Forensic Accounting
Forensic Accountants investigate financial records to find signs of fraud or illegal activity. They work with businesses, government agencies, or law enforcement to uncover financial crimes.
Duties of a Forensic Accountant:
- Examine Financial Records: They look for unusual activity in financial records.
- Work with Law Enforcement: Forensic Accountants help investigate financial crimes.
- Gather Evidence: They collect evidence for cases involving fraud or theft.
- Report Findings: They write detailed reports for legal cases.
How Much Does An Accountant Earn?
According to Indeed and PayScale, Accountants in South Africa earn between R20,000 and R50,000 per month. Pay can depend on experience, the area of accounting, and location. Accountants with more experience or specialised skills can earn higher salaries.
How Do I Know If Being An Accountant Is Right For Me?
A career in accounting may be a good choice if you like working with numbers, solving problems, and paying attention to detail. Accountants need to be precise and able to follow rules closely. If you enjoy helping people or companies manage their money, accounting could be a good fit for you.
What Skills Does An Accountant Need?
Accountants need certain skills to do their job well. These skills allow Accountants to keep records accurate and provide valuable insights to companies. Here are some key skills for this role:
| Skill | Why It Matters |
|---|---|
| Analytical Skills | Helps understand and make sense of financial data. |
| Attention to Detail | Important for spotting mistakes and keeping records accurate. |
| Problem-Solving Skills | Helps resolve financial issues and make useful recommendations. |
| Communication Skills | Needed for explaining complex financial information to others. |
Auditor
With an N6 Financial Management qualification, you could work as an Auditor. Auditors check a company’s financial records to make sure they are correct and follow the rules.
Different Types of Auditors
Auditors help prevent mistakes and fraud, making sure financial information is accurate. There are different types of auditors, like:
- External Auditors
- Internal Auditors
- Forensic Auditors
- Government Auditors
External Auditors
External Auditors work outside of the company they are auditing. They are hired by companies to check financial statements and ensure accuracy. They often work for large firms or are brought in to review public companies.
Duties of an External Auditor:
- Review Financial Statements: Check financial statements to ensure they are correct.
- Ensure Compliance: Make sure the company follows all financial rules and laws.
- Assess Financial Health: Report on the company’s financial situation and suggest improvements.
- Prepare Reports: Write reports that show their findings and any changes needed.
Internal Auditors
Internal Auditors work within a company to check finances. Their job is to ensure financial practices are well-managed and identify any risks. They help companies improve how they handle finances.
Duties of an Internal Auditor:
- Examine Financial Processes: Review financial systems to look for mistakes or fraud.
- Identify Risks: Spot risks that could harm the company financially.
- Suggest Improvements: Recommend ways to improve financial processes.
- Monitor Compliance: Ensure the company follows its own policies.
Forensic Auditors
Forensic Auditors investigate financial records to find fraud or illegal activity. They may work with police or government agencies to help find proof of financial crimes.
Duties of a Forensic Auditor:
- Investigate Suspicious Activity: Check records for unusual transactions or signs of fraud.
- Gather Evidence: Collect proof for cases, especially for court use.
- Work with Law Enforcement: Help the police or agencies investigate financial crimes.
- Create Reports: Write reports on what they find, explaining any illegal activity.
Government Auditors
Government Auditors work for government agencies and check that public funds are spent properly. They make sure money is used responsibly and according to the budget.
Duties of a Government Auditor:
- Review Public Spending: Check records to confirm that government money is spent correctly.
- Ensure Compliance: Confirm that government spending follows the rules.
- Spot Wasteful Spending: Identify areas where money is being wasted.
- Write Reports: Create reports showing how public money is used.
How Much Does An Auditor Earn?
According to sources like Indeed and PayScale, Auditors in South Africa earn between R20,000 and R45,000 per month. The exact amount depends on experience, location, and the type of auditing.
How Do I Know If Being An Auditor Is Right For Me?
If you enjoy working with numbers, following rules, and paying close attention to detail, being an Auditor might be a good fit. Auditors need to spot errors, follow guidelines, and report their findings. If you like investigating and keeping things accurate, this might be a good career for you.
What Skills Does An Auditor Need?
Below are some important skills that help Auditors succeed. These skills help Auditors check records carefully and follow rules.
| Skill | Why It Matters |
|---|---|
| Attention to Detail | Helps find mistakes or signs of fraud. |
| Analytical Skills | Useful for understanding data and noticing trends. |
| Problem-Solving Skills | Important for fixing errors and addressing risks in finances. |
| Communication Skills | Needed to explain findings and write clear reports. |
Financial Manager
With an N6 Financial Management qualification, you can work as a Financial Manager. Financial Managers manage a company’s finances, make budgets, and make sure the company is financially stable. They work with other departments to help the company reach its financial goals.
Different Types of Financial Managers
Financial managers are professionals who help businesses manage their money. There are several types of financial managers, each focusing on a different area of finance. Here are the main types:
- Treasury Manager
- Credit Manager
- Risk Manager
- Controller
- Financial Planning and Analysis (FP&A) Manager
- Chief Financial Officer (CFO)
Treasury Manager
Treasury Managers focus on a company’s cash flow. They make sure the business has enough money for its daily needs, and they manage funds to help the company grow. Treasury Managers also plan for future expenses.
Credit Manager
Credit Managers handle a company’s credit policies. They decide how much credit to extend to customers and set payment terms. They also monitor payments and make sure customers are paying on time, reducing the risk of bad debt.
Risk Manager
Risk Managers identify and manage risks that could affect the company’s finances. This can include risks from investments, market changes, or external factors like economic downturns. They work to protect the company from losing money.
Controller
Controllers oversee accounting tasks and ensure that all financial records are accurate. They prepare financial reports, manage budgets, and check for any errors. Controllers help make sure the company’s finances are in order and meet legal requirements.
Financial Planning and Analysis (FP&A) Manager
FP&A Managers focus on financial planning and forecasting. They analyze the company’s finances to help with budgeting and make predictions about future financial needs. They help management make informed decisions based on data.
Chief Financial Officer (CFO)
The CFO is the highest-ranking financial manager in a company. They oversee all financial activities, including budgets, financial planning, and reports. CFOs work with other managers to set financial goals and ensure the company’s financial health.
Duties of a Financial Manager:
- Create and Monitor Budgets: Develop and manage budgets, ensuring spending stays within limits.
- Financial Planning: Plan for the company’s future income and expenses.
- Oversee Financial Records: Ensure financial records are accurate and organised.
- Advise Management: Offer advice on financial decisions, helping the company make smart investments.
How Much Does A Financial Manager Earn?
In South Africa, financial managers’ salaries vary based on their specialization, experience, and the size of the company they work for. Below is an overview of average annual salaries for different types of financial managers:
| Type of Financial Manager | Average Annual Salary (ZAR) |
|---|---|
| Treasury Manager | R1,200,000 |
| Credit Manager | R800,000 |
| Risk Manager | R900,000 |
| Controller | R950,000 |
| FP&A Manager | R1,000,000 |
| Chief Financial Officer (CFO) | R2,500,000 |
How Do I Know If Being A Financial Manager Is Right For Me?
If you like working with money, planning, and helping a company succeed, being a Financial Manager might be a good career for you. Financial Managers need skills in budgeting, understanding finances, and advising on decisions. If these tasks interest you, this role could be a good choice.
What Skills Does A Financial Manager Need?
Here are some important skills for Financial Managers. These skills help Financial Managers keep the company’s finances strong and organised:
| Skill | Why It Matters |
|---|---|
| Analytical Skills | Helps understand data and make smart financial decisions. |
| Budgeting Skills | Important for creating and managing budgets effectively. |
| Communication Skills | Needed to explain financial plans to others. |
| Problem-Solving Skills | Useful for fixing issues if finances don’t match expectations. |
What Is A NATED Financial Management Course?
A NATED Financial Management course is a programme that teaches skills in finance, accounting, budgeting, and management.
The NATED course includes levels N4, N5, and N6. Each level builds on the one before it. When you complete N6, you can apply for work and build our experience to secure high paying jobs in the future.
Is N6 Worth It?
Yes, an N6 Financial Management qualification can help you find finance jobs. It provides the skills needed for entry-level jobs and prepares you for higher roles in finance as you gain experience.
How Many Credits Does N6 Have?
The N6 Financial Management course has 60 credits. These credits count towards earning a National Diploma once you complete the work experience needed.
How Does The N6 National Certificate Course Work?
The N6 Financial Management course includes different subjects that cover important skills in finance. Each subject teaches a new area of financial management, like accounting, business management, and computer skills. Completing all subjects and passing assessments earns you the N6 qualification.
N6 Financial Management Subjects
In the N6 Financial Management course, you will study several important subjects. These subjects help you gain the skills needed for finance jobs. Each one builds knowledge for a career in finance.
| Subject | What You’ll Learn |
|---|---|
| Financial Accounting N6 | Advanced accounting skills, like creating financial reports and analysing data. |
| Cost and Management Accounting N6 | Learn about budgeting, managing costs, and controlling company resources. |
| Entrepreneurship & Business Management N6 | Skills for planning, making decisions, and running a business. |
| Computer Practice N6 | Covers computer skills needed for finance, such as using spreadsheets and databases. |
Entrance Requirements
To start the N6 level of the NATED Financial Management course, you need to have completed the N5 NATED course. Each level builds on the last, so you must complete N4 before moving to N5, and N5 before N6.
Accreditation
The NATED Financial Management course is accredited by the Quality Council for Trades and Occupations (QCTO). This means the qualification is recognised across South Africa and can help you find jobs in finance.
Assessment Structure
Each level of the NATED Financial Management course includes assignments and exams. For N6, you will complete three open-book assignments per subject, which can be done from home. You will also take a final exam set by the Department of Higher Education and Training (DHET) at an approved exam centre.
What To Do After Completing N6 Financial Management Online
After you complete your N6 Financial Management course online, you will have several career options in finance. This qualification teaches you important skills, like managing budgets, keeping financial records, and making smart financial decisions.
Since you completed the course online, you could study at your own pace and fit your studies around other responsibilities.
Now that you have your certificate, you can look for entry-level finance jobs or even continue studying to improve your skills.
Can You Get A Job With An N6 Certificate?
Yes, an N6 Financial Management certificate can help you get a job. Many companies need people who understand finance, can manage records, and can help with budgets. With an N6 certificate, you might work as a Financial Administrator, Bookkeeper, or Auditor.
This qualification gives you a solid foundation in finance, which is needed in many different jobs. You can also build your required work experience in Financial Management, which can help you qualify for higher-level finance jobs.
Are Financial Management Jobs In Demand?
Yes, finance jobs are in demand. Every company needs finance professionals to manage their money, create budgets, and track finances. Roles like Financial Administrator, Accountant, Bookkeeper, and Auditor are needed in many industries.
People with finance skills help companies stay organised, make wise spending choices, and prepare for the future.
What Does A Financial Management Qualification Prepare You For?
An N6 Financial Management qualification prepares you for a variety of finance jobs. It teaches you skills like understanding financial data, keeping accurate records, making budgets, and managing expenses.
Here are some common finance roles for people with this qualification:
- Financial Administrator
- Bookkeeper
- Accountant
- Auditor
- Financial Manager
What Are The Benefits Of Studying A Nated Course Through Skills Academy?
Studying an N6 Financial Management course with Skills Academy offers many benefits. Skills Academy allows students to study online, which provides flexibility for those with busy schedules or work commitments. Here are some reasons why studying with Skills Academy can be helpful:
- Study from Anywhere: You can study from home, so there is no need to travel or attend classes in person.
- Flexible Schedule: Study at your own pace, which is helpful if you have a job or family responsibilities.
- Access to Support: Skills Academy provides tutors and support staff who can help you with any questions or challenges.
- Affordable Study Fees: Skills Academy offers payment plans to make studying more affordable.
Application Process
Applying to Skills Academy is easy. Here’s how you can get started:
- Visit the Skills Academy Website: Go to the website to find your course and read about it in more detail.
- Contact a Course Expert: Call or chat with a course expert who can answer your questions and guide you through the process.
- Choose Your Payment Plan: Select a payment plan that works for your budget, so you don’t need to pay everything at once.
- Register for the Course: Fill out the registration form online or with help from a course expert.
- Receive Your Study Materials: Once you’re registered, Skills Academy will send your study materials so you can begin learning.
Ready to start your journey with us? Study with us today and enjoy the benefits of distance learning from home. Register now!
Frequently Asked Questions
The N6 Financial Management qualification is equal to a higher certificate in South Africa. It’s not the same as a university degree, but it’s respected by employers for entry-level jobs in finance. After completing N6 and 18 months of work experience, you can earn a National Diploma in Financial Management, which can lead to more job opportunities.
With an N6 Financial Management qualification, you can apply for many entry-level finance jobs. Some examples include:
- Financial Administrator: Manages financial records and helps with budgets.
- Bookkeeper: Keeps track of all money going in and out of a company.
- Auditor: Checks financial records to make sure they are correct and follow rules.
- Accountant: Prepares financial reports and helps with financial planning.
- Financial Manager: Oversees financial planning and advises on financial decisions.
No, the N6 Financial Management qualification by itself does not meet university entry requirements. However, it can help you get jobs or further study options in finance fields at other colleges or technical institutions. You may also continue with the N Diploma by gaining work experience.
To earn a National Diploma in Financial Management, you must complete 18 months of relevant work experience after finishing your N6 Financial Management qualification. This work experience can be in any finance-related job where you can apply what you learned. After completing this work, you can apply for the diploma.
Yes, N6 Financial Management is a good qualification. It prepares you for entry-level finance jobs and is respected by many employers in South Africa. It also provides the foundation for a National Diploma, which can help you qualify for even more advanced roles.
Yes, some universities or higher institutions may let you study further if you have an N Diploma. You would need to check with specific universities to see what courses or programmes might accept it. Each institution has its own entry requirements.
The N6 Financial Management course typically takes about 36 months in total. There are three NATED levels and each one takes around 12 months. After finishing N6, you need an additional 18 months of work experience to get your diploma.
Financial Management involves handling money for a business. People in this field help make budgets, track income and expenses, and make sure financial records are correct. Financial Managers help businesses make good financial choices and keep their finances stable.
The N6 qualification is called the National N Certificate. Once you complete 18 months of work experience, it can lead to a National Diploma in Financial Management.
It usually takes about 3 years to complete the N4, N5, and N6 levels in Financial Management, with each level taking 12 months. After this, you’ll need 18 months of work experience to earn the National Diploma.
