Cash Application Specialist

• Job Title: Cash Application Specialist

• Work Schedule & Location:

• Schedule: Monday to Friday, 8:00 AM – 6:00 PM (CST)

• Work Arrangement: On-site for the first month; eligibility for remote work thereafter based on performance

• Salary: Competitive, based on experience

• Position Summary: The Cash Application Specialist is responsible for accurately posting customer payments, reconciling daily cash activity with bank records, researching discrepancies, and resolving unapplied or unidentified cash transactions. This role plays a critical part in maintaining accurate accounts receivable balances, ensuring timely cash posting, and supporting overall financial accuracy within the Shared Services organization.

• Key Responsibilities:

• Cash Posting & Payment Application:

• Accurately post daily customer payments received via ACH, wire transfers, lockbox, credit card, checks, and other payment methods

• Apply payments to customer accounts and invoices according to remittance details and company policies

• Process high-volume cash receipts while maintaining strong accuracy and productivity standards

• Identify and resolve short payments, overpayments, duplicate payments, deductions, and discrepancies

• Bank Reconciliation & Cash Balancing:

• Reconcile daily cash postings against bank activity and system records

• Assist with monthly bank reconciliations and accounts receivable (AR) subledger balancing

• Research and resolve variances between bank deposits, customer remittances, and ERP postings

• Ensure all cash transactions are properly recorded and documented for audit and compliance purposes

• Unapplied Cash & Research Resolution:

• Investigate and resolve unapplied, unidentified, and misapplied cash transactions in a timely manner

• Collaborate with customers, collections teams, branch personnel, and internal departments to obtain remittance details

• Maintain detailed documentation of research, adjustments, and resolutions

• Monitor aging unapplied cash reports and proactively drive issue resolution

• Collaboration & Support:

• Respond to internal and external inquiries regarding payment applications, account balances, and reconciliation issues

• Partner with Accounts Receivable, Credit & Collections, Treasury, and Finance teams to resolve discrepancies

• Support month-end and year-end close processes

• Identify opportunities for process improvements, automation, and efficiency

• Qualifications:

• Required:

• Minimum of 2 years of experience in cash application, accounts receivable, banking, or accounting operations

• Experience with ERP/accounting systems (SAP, Oracle, NetSuite, Microsoft Dynamics, or similar)

• Strong understanding of accounts receivable processes, cash posting, and bank reconciliation procedures

• Intermediate Microsoft Excel skills (formulas, pivot tables, data analysis)

• Strong analytical, organizational, and problem-solving skills

• High attention to detail with strong accuracy

• Ability to manage multiple priorities and meet deadlines in a fast-paced environment

• Effective written and verbal communication skills

• Preferred:

• Experience with lockbox banking systems and electronic payment platforms

• Knowledge of general ledger accounting and reconciliation practices

• Ability to independently resolve complex payment discrepancies and unapplied cash issues

• Experience in Shared Services or multi-entity environments

 

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