Position Overview:

The Cash Application Specialist (P2) is a mid-level role within the Accounts Receivable department, responsible for processing customer payments and ensuring their accurate application to accounts. The individual in this role will assist with payment reconciliation, identify and resolve discrepancies, and collaborate with team members to maintain accurate financial records. This position requires foundational experience in cash application, as well as the ability to handle more complex issues than the entry-level role.

Key Responsibilities:

Payment Processing:

Process incoming payments via various methods, including checks, electronic transfers, and credit card payments.

Accurately apply payments to customer accounts and invoices in accordance with company policies and procedures.

Verify payment amounts, customer information, and invoice numbers to ensure accuracy.

Discrepancy Resolution:

Investigate and resolve basic payment discrepancies and misapplications.

Collaborate with senior team members and supervisors to resolve more complex issues.

Communicate with customers or internal teams to clarify payment details and resolve disputes.

Documentation and Record-Keeping:

Maintain accurate records of payment transactions for audit and reconciliation purposes.

Assist in the retrieval of payment documentation for audit or reconciliation requests.

Update and ensure that payment records are organized and up-to-date.

Reconciliation and Reporting:

Reconcile daily payment records with bank deposits and assist in identifying discrepancies.

Prepare reports and summaries on payment application for internal stakeholders, as required.

Communication:

Communicate effectively with both internal teams and customers to ensure clear understanding of payment status and discrepancies.

Assist in responding to inquiries and providing payment-related support to customers and internal stakeholders.

Compliance and Process Adherence:

Adhere to company policies and industry best practices regarding cash application procedures.

Ensure compliance with internal controls and help identify areas for process improvement.

Team Collaboration:

Work closely with the Accounts Receivable team, and collaborate with Billing, Collections, and other departments to resolve payment issues and improve cash flow.

Participate in team meetings and contribute to the development of best practices.

Qualifications:

Education & Experience:

High school diploma or equivalent (Associate’s or Bachelor’s degree in Accounting or Finance is a plus).At least 2-3 years of experience in accounts receivable or cash application.Basic understanding of accounting principles and payment processing methods.

Skills & Abilities:

Proficient in Microsoft Office Suite, particularly Excel. Experience with ERP systems is a plus.Strong attention to detail, accuracy, and problem-solving skills.Ability to work independently and collaboratively in a team environment.Effective communication skills, both verbal and written.Customer service-oriented, with the ability to manage payment inquiries professionally.

Physical Demands:

Ability to sit for extended periods.Regular use of a telephone headset for customer and colleague communications.Extended periods of typing and working with digital displays.

Work Environment:

Work in an office setting or remotely, depending on the company's needs.Flexibility to work extended or irregular hours when necessary.

Accountability:

This position does not have direct subordinates.Decisions are made with guidance from senior team members or supervisors when necessary.