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Cash Application Specialist

2 months ago


Detroit, Michigan, United States Quantam Solutions Full time
Job Description

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.