Cash Application Specialist

• Job Title: Cash Application Specialist
• Work Schedule & Location:
• Schedule: Monday to Friday, 8:00 AM – 6:00 PM (CST)
• Work Arrangement: On-site for the first month; eligibility for remote work thereafter based on performance
• Salary: Competitive, based on experience
• Position Summary: The Cash Application Specialist is responsible for accurately posting customer payments, reconciling daily cash activity with bank records, researching discrepancies, and resolving unapplied or unidentified cash transactions. This role plays a critical part in maintaining accurate accounts receivable balances, ensuring timely cash posting, and supporting overall financial accuracy within the Shared Services organization.
• Key Responsibilities:
• Cash Posting & Payment Application:
• Accurately post daily customer payments received via ACH, wire transfers, lockbox, credit card, checks, and other payment methods
• Apply payments to customer accounts and invoices according to remittance details and company policies
• Process high-volume cash receipts while maintaining strong accuracy and productivity standards
• Identify and resolve short payments, overpayments, duplicate payments, deductions, and discrepancies
• Bank Reconciliation & Cash Balancing:
• Reconcile daily cash postings against bank activity and system records
• Assist with monthly bank reconciliations and accounts receivable (AR) subledger balancing
• Research and resolve variances between bank deposits, customer remittances, and ERP postings
• Ensure all cash transactions are properly recorded and documented for audit and compliance purposes
• Unapplied Cash & Research Resolution:
• Investigate and resolve unapplied, unidentified, and misapplied cash transactions in a timely manner
• Collaborate with customers, collections teams, branch personnel, and internal departments to obtain remittance details
• Maintain detailed documentation of research, adjustments, and resolutions
• Monitor aging unapplied cash reports and proactively drive issue resolution
• Collaboration & Support:
• Respond to internal and external inquiries regarding payment applications, account balances, and reconciliation issues
• Partner with Accounts Receivable, Credit & Collections, Treasury, and Finance teams to resolve discrepancies
• Support month-end and year-end close processes
• Identify opportunities for process improvements, automation, and efficiency
• Qualifications:
• Required:
• Minimum of 2 years of experience in cash application, accounts receivable, banking, or accounting operations
• Experience with ERP/accounting systems (SAP, Oracle, NetSuite, Microsoft Dynamics, or similar)
• Strong understanding of accounts receivable processes, cash posting, and bank reconciliation procedures
• Intermediate Microsoft Excel skills (formulas, pivot tables, data analysis)
• Strong analytical, organizational, and problem-solving skills
• High attention to detail with strong accuracy
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment
• Effective written and verbal communication skills
• Preferred:
• Experience with lockbox banking systems and electronic payment platforms
• Knowledge of general ledger accounting and reconciliation practices
• Ability to independently resolve complex payment discrepancies and unapplied cash issues
• Experience in Shared Services or multi-entity environments

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