Cash Application Specialist

Description

This position plays a critical role in maintaining healthy cash flow by ensuring customer payments are accurately applied, discrepancies are resolved promptly, and financial records remain complete and accurate.

Job Summary

The Cash Applications Specialist is responsible for accurately and timely applying customer payments to accounts receivable, researching payment discrepancies, and ensuring customer accounts remain current. This role works closely with Accounts Receivable and Customer Contacts to resolve unapplied cash, short payments, and billing issues while maintaining accurate financial records.

Essential Duties And Responsibilities

• Process and apply customer payments received via ACH, wire transfers, checks, credit cards, and lockbox services.
• Research and resolve payment discrepancies, including short pays, overpayments, deductions, and unapplied cash.
• Reconcile daily cash receipts to bank deposits and general ledger activity.
• Maintain accurate customer account records and payment histories.
• Collaborate with customer contacts to resolve payment issues.
• Monitor unapplied cash and ensure timely resolution of outstanding items.
• Process customer refunds and credit balance adjustments as needed.
• Prepare weekly cash application reports.
• Identify opportunities to improve cash application processes and increase efficiency.
• Maintain compliance with company policies and internal controls.
  
  

Qualifications

• High school diploma or GED required; Associate's or Bachelor's degree in Accounting, Finance, or Business preferred.
• 2 years of experience in cash applications, accounts receivable, or accounting.
• Experience with ERP systems (SAP, Oracle, Microsoft Dynamics, NetSuite, JD Edwards, or similar).
• Strong proficiency in Microsoft Excel, including formulas, sorting, filtering, and pivot tables.
• Excellent analytical and problem-solving skills.
• Strong attention to detail and organizational skills.
• Ability to prioritize multiple tasks in a fast-paced environment.
• Excellent written and verbal communication skills.
  
  

Preferred Skills

• Experience with electronic payment processing and lockbox services.
• Knowledge of accounting principles and cash reconciliation.
• Experience working with high-volume transaction environments.
• Continuous improvement mindset with the ability to identify process efficiencies.
  
  

Core Competencies

• Accuracy and attention to detail
• Time management
• Problem solving
• Customer service orientation
• Team collaboration
• Accountability
• Data analysis
• Financial reconciliation
  
  

Work Environment

• Office Setting
• Using a computer and standard office equipment
  
  

Monti, Inc. is proud to be an Equal Opportunity Employer.