Cash Application Specialist Job Description
Cash application specialist
provides customized reports from clinical scheduling and billing data for departmental leadership team, utilizing Microsoft Excel, Microsoft SQL and SAP Crystal Reports.
Cash Application Specialist Duties & Responsibilities
To write an effective cash application specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included cash application specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Works in ERP system environment to apply customer payments via SAP lockbox post-process
On an ongoing basis and in a timely manner, accurately applies cash collections to the customer’s account using appropriate accounting and business management software
Post ACH, wire transfer and RDS deposits to appropriate GL cash accounts
Assists with DMS indexing when necessary including creation of bar codes for DMS
Assists with return credit memo worksheet sorting
Transfer the daily lockbox files from bank websites to the appropriate network folders for automated payment application or rejection
Perform timely and accurate application of daily receipts and reconcile cash balance to general ledger account on a daily basis
Work with Corporate Treasury, other Pratt & Whitney Services locations, and Business Units to net cash to appropriate location
Work with Corporate Treasury, other North American Financial Shared Services locations, and Strategic Business Units to net cash to appropriate location
This position will not include supervising employees where applicable
Cash Application Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Cash Application Specialist
Typically a job would require a certain level of education.
Employers hiring for the cash application specialist job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Accounting, Finance, Business, Associates, Education, Business/Administration, Economics, Technical, Business/Accounting, Accountancy
Skills for Cash Application Specialist
Desired skills for cash application specialist include:
Accounting
Finance
General business
LEAN methodology is a benefit
Microsoft Excel
North American gas and power markets competitors and competitors would be considered an asset
Microsoft applications
SAP
Especially Outlook and Excel
MS Excel
Desired experience for cash application specialist includes:
Basic knowledge in AR experience in a F&A BPO
Verifies and posts accounts receivable transactions for a high volume AR department that processes 30,000 + transactions and cash receipts per month for adidas-Group
Post ACH, wire transfer and credit card deposits to appropriate GL cash accounts
Assists with return credit memo processing
To resolve cash application issues presented by internal sources such as customer service and collections and communicate resolution to requestor
Perform quality assurance and compliance in AR related activities
Cash Application Specialist Examples
1
Cash Application Specialist Job Description
Job Description Example
Our growing company is looking for a cash application specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cash application specialist
- Audit/check and verify daily deposits entered by offshore outsourcing company daily cash balancing
- Interaction with off shore outsourcing staff and rectification of all issues raised
- Assist Offshore personnel in maintaining daily cash reconciliation spreadsheets for each lockbox and resolving cash reconciling items
- Identify processing exceptions that inhibit application efficiencies and recommend solutions
- Utilize available internal and external software and hardware tools to maximize productivity while maintaining transaction integrity
- Cash Application in a timely and accurate manner
- Bank Statement Review
- Direct Debit & Refund Administration
- Liaising with other departments re clearing and reconciliation activities
- Managing Logged & Unapplied Payments
Qualifications for cash application specialist
- Remittance advice reconciliations for all payments
- Ensure all payments are matched & allocated within agreed timelines
- Continuous process improvements for cash applications
- Meet Cash Application KPI’s
- Cheque management process | start to finish
- Remittance Management
2
Cash Application Specialist Job Description
Job Description Example
Our company is looking to fill the role of cash application specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cash application specialist
- Support DSO and Cash Collection targets
- Initiates report summary
- Manage deduction process by analyzing customer accounts where short payments have been taken
- Provide assistance to the supervisor in training and directing staff acting functional supervisor in the absence of the supervisor
- Prepares activity and status reports and reconciles unapplied cash as appropriate
- Works with Collections, Financial Operations, and Accounts Receivables teams in researching unapplied cash amounts so that unapplied cash can be kept to a minimum
- Contacts customers via letters, emails, and phone calls to inquire about incomplete information related to payments
- Utilizes current lockbox technology to print reports and view images related to cash applications
- Provides support and written documentation as required to support cash application for SOX controls and audits
- May perform cash reconciliations against bank accounts and other Company accounts as requested or required
Qualifications for cash application specialist
- Account reconciliation and ability to analyze results
- Multi-task and work autonomously
- Bilingual skills (Spanish) preferred due to advertising account base
- A minimum of three years’ relevant experience, preferably in a credit to cash team, Cash Application and/or Collections role
- Good working knowledge of JD Edwards
- Knowledge of EOB’s required
3
Cash Application Specialist Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of cash application specialist. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for cash application specialist
- Maintain files and filing
- Support Credit Administrator when needed
- Process cash receipt application for client invoice payments and other miscellaneous receipts
- Responsible for all areas of the Cash Application process
- Post lockbox and local deposits, wire transfers, credit card payments and disputes, inter-company transfers, refunds and adjustment entries
- Utilize bank internet sites for additional information on downloaded data and reporting
- Communicate with appropriate division regarding payment data and customer communication
- Data entry of payment information
- Monthly reporting of past due, credit, and third-party payer accounts
- Maintain control logs
Qualifications for cash application specialist
- Must be professional and ethical with high integrity
- Ability to manage multiple tasks through to completion
- Familiar with credit references
- Excellent research, troubleshooting, and resolution skills
- Intermodal Transportation experience a plus
- Typing, ability to use personal computers and telephones
4
Cash Application Specialist Job Description
Job Description Example
Our innovative and growing company is hiring for a cash application specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cash application specialist
- Update customer information in computer system
- Print and mail monthly customer statements, provide invoice copies to customers upon request
- Process about 1,000+ checks (or ACHs, credit cards, wire transfers, etc) daily
- Post daily lockbox, EFT/ACH and manual remittance deposits to customer accounts
- Reconcile each batch as it is posted, compile and balance cash deposits for bank
- Correct payment posting discrepancies to balance payment information
- Strong personal initiative to ensure timely application of payments and resolution of inquiries
- Responsible for cash application, cash receipt, reconciliation and inter-company cash transfer reconciliations
- Manages the lockbox functions
- Applies cash collections daily to appropriate customer accounts
Qualifications for cash application specialist
- Ability to be seated at a computer workstation for extended periods
- One year experience in a cash application environment is strongly desired
- Incumbents should be able to deal with customers in friendly, courteous, timely and professional manner
- Familiarity with QuickBooks a plus
- Minimum of 2+ years of accounts receivable experience, some commercial real estate or property management experience preferred
- Must be comfortable interacting and communicating with individuals at all levels of the organization
5
Cash Application Specialist Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of cash application specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cash application specialist
- Coordinates with the staff accountant in identifying cash transactions and problems
- Writes and updates AR-Cash Application procedures
- Receive and deposit Customer payments
- Apply Cash remittances and credits / adjustments
- Produce unapplied/ unidentified Cash Report
- Investigate / Resolve / return overpayments
- Process the daily application of cash receipts for various customers in Oracle AR Receipt and AR Legacy Mainframe application
- Ensure that receipts are applied timely and accurately to each customer’s account
- Monitor the daily cash activity reject report and resolve any items needing attention
- Identify and research any receipts received that are not customer related accounts such as miscellaneous receipts
Qualifications for cash application specialist
- Ability to work in a fast pace team environment independently
- Daily cash application of payments made to several corporate lockboxes
- Apply receipts daily for all deposited credit card settlements, wires, EFT/ACHs, and manual deposits
- Process recurring credit card and ACH debit batches
- Work to resolve ACH debit and CC declines within 48 hours
- Contact customers and/or banks when payments cannot be identified within 48 hours