World Wide Cash Application Specialist(Contract)

CAI Software; Bengaluru; On-site; INR 1,000,000 - 1,400,000; Full time

Job summary

CAI Software in Bengaluru, India seeks a detail-oriented Cash Application Specialist to manage accurate and timely application and reconciliation of customer payments.

The role requires strong accounting knowledge, AR processes, and experience with multiple payment methods. You will collaborate with Credit, Collections, Sales, and Finance teams to resolve unapplied cash and support month-end close.

Qualifications

• Bachelor’s degree in Accounting/Finance/Commerce or related field; CA Intermediate preferred.
• 7–10 years of experience in Cash Application or AR roles.
• Experience with multiple payment methods including bank transfers, Direct Debit, cards, and cheques.
• Experience with bank and payment reconciliations; Worldpay and lockbox preferred.
• Proficient in NetSuite and advanced Excel skills.

Responsibilities

• Review daily bank transactions and apply customer receipts to accounts and invoices.
• Process and reconcile payments via bank transfers, Direct Debit, cards, cheques, and other methods.
• Investigate unidentified payments using remittance info and payment provider reports.
• Handle short payments, overpayments, deductions, returns, chargebacks, and refunds.
• Ensure payments post to correct customer, invoice, currency, and legal entity.
• Prepare intercompany journal entries and allocate intercompany receipts when needed.
• Perform reconciliations for bank, AR, and payment providers; monitor unapplied cash.
• Support AR reporting and month-end cash reconciliations; provide transaction-level support.

Skills

Excel skills

Education

Bachelor's degree in Accounting/Finance/Commerce

CA Intermediate qualification

Tools

Worldpay

Lockbox

NetSuite

Job description

Position Summary

We are looking for a detail-oriented and proactive Cash Application Specialist to manage the accurate and timely application and reconciliation of customer payments.

The role requires a good understanding of basic accounting, Accounts Receivable, bank transactions, payment reconciliation, and cash application. The individual will investigate unidentified and unapplied receipts, work with Credit and other teams to resolve issues, and support accurate AR reporting and month-end activities.

Key Responsibilities

Cash Application & Payment Processing

• Review daily bank transactions and accurately identify and apply customer receipts to the appropriate customer accounts and invoices.
• Process and reconcile payments received through bank transfers, Direct Debit, credit cards, cheques, and other payment methods.
• Investigate unidentified payments using bank details, remittance information, customer records, and payment provider reports.
• Handle short payments, overpayments, deductions, rejected/returned payments, chargebacks, and refunds.
• For credit card and cheque receipts, obtain and analyze settlement reports from payment processing portal and reconcile them to bank deposits and customer invoices.
• Ensure payments are posted to the correct customer, invoice, currency, and legal entity.

Intercompany & Cross-Entity Receipts

• Handle situations where a customer payment is received by a different legal entity from the entity that issued the customer invoice.
• Investigate and identify the appropriate accounting treatment and coordinate with the relevant teams to ensure the receipt is correctly allocated.
• Prepare or support Advanced Intercompany Journal Entries (AIJEs) to transfer cash/AR balances between entities where required.
• Ensure intercompany transactions are appropriately documented, reconciled, and cleared.

Reconciliation & Unapplied Cash

• Perform bank, AR, and payment provider reconciliations and investigate discrepancies.
• Monitor unapplied and unidentified cash and proactively follow up until resolution.
• Work closely with Credit Representatives, Collections, Sales, Customer Service, and Finance teams to obtain remittance information and resolve outstanding receipts.
• Maintain clear documentation and comments for unresolved items.

AR Reporting & Accounting

• Prepare and review AR ageing and cash application reports.
• Support month-end cash and AR reconciliations and provide required transaction-level support.
• Apply basic accounting principles and understand the relationship between bank transactions, customer accounts, invoices, AR subledger, and the General Ledger.
• Identify recurring issues and suggest improvements to reduce unapplied cash.

Required Qualifications & Experience

• Bachelors degree in Accounting, Finance, Commerce, or a related field; CA Intermediate qualification preferred.
• 7-10 years of experience in Cash Application, Accounts Receivable, Order-to-Cash, or a similar finance role.
• Good understanding of basic accounting and AR processes.
• Experience with multiple payment methods including bank transfers, Direct Debit, credit cards, and cheques.
• Experience with bank and payment reconciliations; Worldpay and lockbox experience is preferred.
• Understanding of intercompany accounting and cross-entity transactions is preferred.
• Experience with NetSuite.
• Good Excel skills and ability to work with high-volume transaction data.