Cash Allocation Specialist- Shared Services

AIR Control Concepts; Norfolk (VA); On-site; USD 55,000 - 65,000; Full time

Benefits offered by this job

Health insurance

401(k) match

Paid time off

Training opportunities

Job summary

AIR Control Concepts is seeking a Cash Allocation Specialist for our Norfolk, VA location. The role focuses on the accurate posting of customer payments across multiple operating companies, ensuring payments are applied to the correct accounts and invoices in the ERP system.

You will investigate discrepancies, perform daily cash reconciliations, and support month-end close processes while coordinating with sales and project teams to obtain remittance details as needed.

Qualifications

• Two years of cash application or AR experience required.
• Experience with high-volume lockbox or bank file processing preferred.
• Strong Excel skills including pivot tables, VLOOKUP/XLOOKUP and data analysis.

Responsibilities

• Apply customer payments to correct accounts and open invoices in the ERP system.
• Match remittance advice to invoices, including partial payments and multi-invoice payments.
• Research unapplied or misapplied cash and coordinate with customers and teams to obtain remittance details.

Skills

Advanced Excel

Data analysis

Lockbox processing

Bank reconciliation

Remittance matching

ERP systems

VLOOKUP/XLOOKUP

Attention to detail

Communication

Education

Associate degree in Accounting or Finance

High school diploma

Tools

Zendesk

FACTs

Oracle

Job description

Title: Cash Allocation Specialist- Shared Services

Operating Company: Air Control Concepts

Location: Norfolk, VA

FLSA Status: Exempt

Salary Range: $55,000-$65,000annually

About AIR Control Concepts:

AIR Control Concepts is more than just a collection of firms, we are a community of forward-thinking experts committed to excellence, innovation, and collaboration. With a focus on commercial HVAC representation, we bring together esteemed entities from diverse regions, each boasting decades of invaluable experience.

We understand that success in the HVAC industry goes beyond individual accomplishments. That's why we believe in the power of unity and collaboration. By leveraging our collective assets, knowledge, and resources, we empower our member firms to deliver unparalleled service, safety, and efficiency to clients across healthcare, commercial, and residential sectors.

Click here to view our website: AIR Control Concepts

Job Description:

The Cash Allocation Specialist is responsible for the accurate and timely application of customer payments, researching and resolving unapplied or misapplied cash, and performing daily reconciliation of customer receipts across multiple operating companies.

This role will manage a high volume of commercial payment activity within a fast-paced, project-driven environment, ensuring payments are accurately applied to the appropriate customer accounts, invoices, and projects. This position will also investigate payment discrepancies, identify and resolve outstanding cash application issues, and maintain accurate customer account balances.

Essential Duties and Responsibilities:

• Apply daily customer payments received by check, ACH, wire, credit card, and lockbox to the correct customer accounts and open invoices in the ERP system
• Match remittance advice to open invoices, including partial payments, short pays, retainage, progress billings, and payments covering multiple invoices or jobs
• Research and resolve unapplied, unidentified, and misapplied cash, partnering with customers, sales, and project teams to obtain remittance detail when needed
• Process joint check payments and coordinate with the credit team to confirm proper allocation between customers, contractors, and suppliers
• Reconcile daily cash receipts and deposits to bank activity and the general ledger, ensuring all receipts are posted accurately and on time
• Identify and document payment discrepancies such as deductions, disputes, overpayments, and duplicate payments, and route them to the appropriate team for resolution
• Process customer refunds, credit memo applications, and on-account balance cleanup in accordance with established approval levels
• Monitor unapplied cash and on-account balances daily, working them down promptly and reporting on aged unapplied items
• Maintain accurate payment records and ensure compliance with all laws, regulations, company policy, contract requirements, and internal controls
• Assist with process improvement initiatives focused on cash application accuracy, remittance capture, lockbox, and bank file automation, and month-end close support

Additional duties may be assigned as needed to support business operations; however, such duties will be reasonable, job-related, and consistent with the scope, level, and classification of the position.

Experience and Requirements:

Required

• High school diploma required, associate’s in Accounting, Finance, or a related field preferred.
• Minimum of two years of experience in cash application, accounts receivable, or payment processing, with a strong preference for candidates who also bring experience with high-volume lockbox or bank file processing.
• Working knowledge of lockbox processing, bank reconciliation, remittance matching, and AR subledger to general ledger reconciliation
• Advanced Excel proficiency, including pivot tables, VLOOKUP/XLOOKUP, and data analysis.
• Strong attention to detail with excellent organizational and problem-solving abilities
• Ability to communicate clearly and professionally with customers, sales, and internal operations teams when researching payment questions
• Hands-on experience with ERP and accounting systems in a high-volume environment, including but not limited to Zendesk, FACTs and Oracle
• Self-starter capable of managing multiple priorities and daily deadlines simultaneously

Preferred

• B2B cash application experience within construction, specialty contracting, engineering, manufacturing, government projects, or similar project-based environments is strongly preferred
• Construction or specialty trade industry exposure
• Experience applying payments for large commercial or industrial projects, including retainage and progress billing
• Familiarity with joint check agreements, multi-entity cash application, and high-volume bank or lockbox file processing

Benefits:

• Health & Wellness–Medical, dental, vision, and life insurance coverage to support your well-being.
• Financial Security–401(k) retirement plan with company match and short/long-term disability coverage.
• Work-Life Balance–Paid time off (PTO), paid holidays, andan employeeassistanceprogram (EAP).
• Professional Development–Ongoing training opportunities and support for continuing education.

The Company provides equal employment opportunity in accordance with applicable laws and prohibits discrimination and harassment. Employment decisions are based on business needs and qualifications.

The Company complies with disability laws and provides reasonable accommodations to qualified individuals.