Job Description
Job Description
Position Summary:
The cash application specialist is responsible for the accounts receivable (AR) process, focusing on accurately and efficiently applying and reconciling incoming customer payments to the correct invoices and accounts
Essential Duties and Responsibilities:
- Payment Processing: Accurately process and post daily cash receipts, including checks, ACH, wire transfers, and credit card payments, to the appropriate customer accounts.
- Reconciliation and Discrepancy Resolution: Reconcile daily cash reports and bank statements to ensure all payments are accounted for and investigate any discrepancies, overpayments, or short payments.
- Documentation and Reporting: Maintain precise records of all transactions and customer communications for auditing purposes, and prepare regular reports on cash application status, unapplied cash, and payment trends for management.
- Communication and Collaboration: Contact customers and collaborate with internal teams, such as accounts receivable and collections departments, to obtain missing remittance information or resolve payment-related issues.
- Month-End Activities: Assist with month-end and year-end closing activities, including general ledger audits and account balancing.
- Perform other duties as assigned
Supervisory Responsibilities:
No formal supervisory role.
Education and Experience Requirements:
- Education: Associate or bachelor’s degree in accounting, finance, or a related field often preferred.
- Experience: Prior experience in accounts receivable and high-volume cash application functions is typically required.
Required Skills:
- Technical Skills: Proficiency in Microsoft Excel (including VLOOKUPs and pivot tables) and experience with accounting or ERP software (e.g., Microsoft Business Central, Navision) is necessary.
- Soft Skills: Strong attention to detail, excellent organizational and problem-solving abilities, and superb communication skills are essential for success in this role.
Physical/Mental Demands:
This position is largely a sedentary role, requiring the use of typical office equipment such as computers, printers, copiers, and scanners.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.