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Cash Application Specialist
2 months ago
Job Summary:
We are seeking a highly skilled Cash Application Specialist to join our team at Quantam Solutions. As a key member of our financial operations team, you will play a critical role in ensuring the efficient and accurate processing of client payments.
Key Responsibilities:
- Assist in receiving, recording, and depositing cash receipts from clients, settlements, and other sources.
- Collaborate with billing departments to reconcile client accounts, track payments, and resolve any billing-related discrepancies or issues.
- Investigate and resolve any discrepancies or disputes related to cash receipts, working closely with clients, attorneys, and other stakeholders to address issues promptly and effectively.
- Identify opportunities to streamline and improve the cash application process, implementing best practices and leveraging technology to enhance efficiency and accuracy.
- Help develop and maintain unapplied cash policies and procedures ensuring alignment with industry best practices and regulatory requirements.
- Help establish guidelines and thresholds for unapplied cash, including levels of authority and documentation requirements, and ensure adherence to established procedures.
- Work with financial teams to reduce unapplied cash balances and communicate unapplied cash decisions to relevant stakeholders providing clear rationale and guidance as needed.
Requirements:
- Bachelor's degree in accounting, finance, or a related field.
- Prior experience in cash applications or accounts receivable management, preferably in a professional services environment.
- Advanced knowledge in Microsoft Excel (advanced formulas/functions, pivot tables, VBA) with proficiency in Microsoft Word and PowerPoint.
- Strong understanding of accounting principles and cash management practices.
- Excellent attention to detail and analytical skills.
- Strong communication and interpersonal skills, with the ability to collaborate across departments and interact with clients and vendors.
- Ability to prioritize tasks and work effectively in a fast-paced, deadline-driven environment.