Cash Application Specialist

BFS Associates; Boston; On-site; GBP 30,000 - 45,000; Full time

Job summary

A leading staffing and recruiting company is seeking a Cash Application Specialist to manage customer payments, reconcile accounts, and maintain transaction records. The role requires strong attention to detail and analytical skills, with a minimum of a BA degree and relevant experience. This is a temporary position that offers the opportunity to work closely with the Collection Team and various internal departments to resolve payment issues.

Qualifications

• Minimum of 3 years relevant experience in a Cash application role.
• Proficient knowledge of accounting functions and computer applications.

Responsibilities

• Manage all aspects of the cash application process including posting payments.
• Reconcile accounts and customer balances.
• Research and resolve disputed invoices and payment discrepancies.

Skills

Attention to detail

Analytical thinking

Critical thinking

Education

BA or BS degree

Job description

2 days ago Be among the first 25 applicants

The Cash Application Specialist is responsible for completion of timely and accurate application of customer payments received through bank lockbox, ACH, Wire, Credit Card, or other methods to customer invoices, performing payment transfers between companies, balancing entries, and weekly/monthly reporting to accounting. Identifying cash received for appropriate application to customer account or GL account. The Cash Application Specialist will ensure that cash is processed timely and accurately.

Responsibilities:

• Processing payments: Knowledge to proficiently manage all aspects of the cash application process, including posting ACH, wires, credit card, and lockbox payments, while following established procedures.
• Reconciling accounts: Reconciling accounts and customers balances.
• Maintaining records: Maintaining records of transactions and credit memos.
• Addressing Discrepancies Perform various types of client account adjustments, such as credit transfers, application of unapplied funds, write-offs, and refunds.
• Generating reports: Creating reports to track and ensure the posting of the receipts is complete at the end of each fiscal period.
• Collaborating with others: Interactions with customers to resolve payment-related issues and internally with cross-functional teams.
• Working closely with Collection Team for all cash application exceptions and queries.
• Analytical and investigative approach in the resolution of unidentified funds.
• Researching and resolving disputed invoices, overpayments, underpayments with customers and internal work team.
• Providing documents for internal/external audits as necessary.
• Verifying and reconciling daily bank transmission from the bank lockboxes to relevant electronic systems based on actual deposits.
• Maintaining current understanding of all related internal systems and processes, and external regulatory requirements. Act in accordance with all corporate policies and practices, and ensure work is in compliance with all internal policies and external regulatory.
• Prepare accounts receivable reconciliation to the general ledger on a monthly basis.
• Prepare the accounts receivable bad debt analysis on a monthly basis in line with the corporate policies, and recommend any adjustments needed to the reserve to management.

Qualifications:

• Strong attention to detail, with analytical, critical thinking and follow up.
• Minimum of a BA or BS and 3 years relevant experience in a Cash application role.
• Proficient knowledge of accounting functions and computer applications.

Seniority level

• Seniority level

  Associate

Employment type

• Employment type

  Temporary

Job function

• Job function

  Accounting/Auditing

• Industries

  Staffing and Recruiting

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Accounts Payable/Accounts Receivable Specialist

Accounts Payable/Accounts Receivable Specialist

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