Cash Application Specialist

Cash Application Specialist

Position Summary :

The Cash Application Specialist plays a critical role in the financial operations of our organization, ensuring timely and accurate posting of customer payments. This position is responsible for processing incoming payments, resolving discrepancies, and maintaining precise records. The ideal candidate will have a keen eye for detail, strong analytical skills, and a commitment to maintaining financial accuracy.

Key Responsibilities :

• Payment Processing :
• Accurately apply daily cash receipts (checks, ACH, wire transfers, and credit card payments) to customer accounts.
• Post payments to appropriate invoices in the accounts receivable system.
• Ensure timely and accurate recording of all transactions.
• Reconciliation :
• Reconcile the daily cash application activities with bank statements and internal records.
• Investigate and resolve discrepancies between bank deposits and the cash application system.
• Customer Account Management :
• Monitor and manage unapplied cash and credit balances.
• Communicate with customers to resolve payment issues and discrepancies.
• Coordinate with the collections team to ensure accurate account statuses.
• Reporting :
• Generate and distribute cash application reports to management.
• Assist in preparing month-end and year-end financial reports.
• Process Improvement :
• Identify and implement improvements to the cash application process.
• Participate in system upgrades and testing as needed.
• Ensure compliance with company policies and accounting regulations.
Qualifications :
• Education :
• Associate's or Bachelor's degree in Accounting, Finance, Business Administration, or related field preferred.
• Experience :
• Minimum of 2 years of experience in cash application, accounts receivable, or a related financial role.
• Experience with accounting software and ERP systems (e.g., SAP, Oracle, Microsoft Dynamics).
• Skills :
• Strong analytical and problem-solving skills.
• Proficiency in Microsoft Office, especially Excel.
• Excellent communication and interpersonal skills.
• High level of accuracy and attention to detail.
• Ability to work independently and as part of a team.
• Other Requirements :
• Ability to handle sensitive and confidential information.
• Strong organizational skills and the ability to manage multiple tasks simultaneously.

Work Environment :

Compensation

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