CASH APPLICATION JOB DESCRIPTION - BIZCRM APP

Cash Application Job Description

Position: Cash Application Specialist

Job Description

We are seeking a detail-oriented and highly motivated Cash Application Specialist to join our finance team. The Cash Application Specialist plays a crucial role in accurately processing and reconciling incoming payments, ensuring the smooth and efficient functioning of our cash flow management and financial processes.

Responsibilities:

• Accurately process and post incoming payments to customer accounts from various sources, including checks, ACH, wire transfers, and credit cards.
• Reconcile cash applications daily and promptly identify and resolve any discrepancies in accounts.
• Address and resolve customer inquiries and payment discrepancies in a timely and professional manner.
• Generate and maintain reports on cash application metrics, highlighting any trends or areas for improvement.
• Collaborate closely with the accounts receivable, customer service, and other finance departments to ensure accurate cash flow management.
• Maintain accurate records of transactions and provide support during month-end closing processes.
• Identify opportunities to streamline cash application processes and enhance overall efficiency.

Skills and Qualifications:

• Strong analytical skills with the ability to analyze financial data and reconcile discrepancies effectively.
• Meticulous attention to detail to ensure accurate processing of payments and documentation.
• Excellent written and verbal communication skills for effective interaction with customers and team members.
• Proactive problem-solving abilities to address payment discrepancies and customer inquiries.
• Proficiency in accounting software such as SAP, Oracle, QuickBooks, and MS Excel.
• A bachelor’s degree in Finance, Accounting, Business Administration, or a related field is preferred.
• 2-4 years of experience in accounts receivable, cash application, or a similar role is advantageous.
• Relevant certifications in accounting or finance are a plus.
• Ability to adapt quickly to changing situations and processes.
• Collaborative mindset to work effectively with cross-functional teams.
• Strong ethical standards and commitment to maintaining confidentiality.

Salary Expectations:

The average salary range for a Cash Application Specialist in the U.S. is $45,000 to $70,000 per year, depending on experience, location, and industry. Salaries may be higher in major metropolitan areas. Entry-level specialists can expect to start around $45,000, while those with 4+ years of experience can earn upwards of $70,000.

Career Growth Opportunities:

As a Cash Application Specialist, there are various career growth opportunities available. With proven results, specialists can advance to senior positions such as Senior Cash Application Specialist or Accounts Receivable Manager. Additionally, there is potential to transition into broader roles in finance or accounting management. Specializing further in financial analysis, treasury management, or credit management is also an option for career advancement.

How to Apply:

If you have the skills and attributes required for this role and are ready to contribute to our financial success, please apply with your updated resume and a cover letter highlighting your relevant experience.

Please note that only qualified candidates will be contacted for further steps in the selection process.

Note: This job description was provided as a courtesy and sourced from BizCRM App.