Cash Application Analyst/Accounting Specialist
3 weeks ago
- Payment processing: Daily review and application of incoming payments from various sources like bank lockbox, wire transfers, and credit cards to customer accounts.
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- Invoice matching: Matching payments to the correct outstanding invoices based on customer details and remittance information.
- Discrepancy resolution: Investigating and resolving payment discrepancies, including short payments, duplicate payments, and unidentified deductions.
- Bank reconciliation: Performing daily bank reconciliations to ensure accurate cash balances.
- Suspense account management: Monitoring and clearing unallocated cash held in suspense accounts.
- Customer interaction: Contacting customers to clarify payment details or resolve application issues.
- Reporting: Generating reports on cash application activity, including aging analysis and key performance indicators (KPIs).
- System maintenance: Maintaining and updating cash application system data and parameters.
- Audit support: Assisting with internal and external audits related to accounts receivable.
Required skills:
- Strong analytical skills to identify and resolve discrepancies
- Attention to detail to ensure accurate data entry and payment allocation
- Proficiency in accounting principles and practices
- Excellent communication skills to interact with customers and internal stakeholders
- Ability to work independently and as part of a team
- Experience with ERP systems (e.g., SAP, Oracle) and related cash application modules
- Proficiency in Microsoft Excel for data analysis and reporting
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