Cash Application Specialist – Contract

Job Summary: The Cash Application Specialist plays a crucial role in the financial operations of a company by ensuring the accurate and timely application of payments received from customers to their respective accounts. This role requires strong attention to detail, proficiency with financial systems, and a deep understanding of accounting principles. The specialist will collaborate with internal teams, such as Accounts Receivable, Credit, and Customer Service, to resolve payment discrepancies and maintain accurate financial records.

Key Responsibilities:

• Payment Processing: Accurately apply customer payments (checks, ACH, wire transfers, credit cards, etc.) to corresponding invoices in the accounting system.
• Reconciliation: Perform daily, weekly, and monthly reconciliation of payments received with bank statements and resolve any discrepancies.
• Invoice Matching: Ensure all payments are correctly matched to open invoices, identifying any issues or mismatches.
• Research & Resolution: Investigate and resolve unapplied payments, short payments, overpayments, and payment discrepancies by communicating with customers and internal departments.
• Reporting: Prepare cash application and account reconciliation reports for management, providing updates on unapplied payments and pending issues.
• Customer Service: Provide support to customers with questions or concerns regarding their accounts, payments, or invoices.
• Process Improvement: Continuously seek ways to streamline and improve the cash application process, ensuring efficiency and accuracy.
• Compliance: Ensure compliance with company policies and procedures, as well as accounting and auditing standards.

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