Description:
The Cash Application Specialist is responsible for the timely and accurate application of incoming payments to customer accounts, ensuring that all transactions are processed efficiently, and discrepancies are resolved promptly. This role plays a crucial part in maintaining accurate financial records and supporting the organization's overall cash flow.
Duties and Responsibilities
- Process and apply customer payments received via cheques, credit cards, ACH, and other methods to the appropriate accounts.
- Reconcile cash receipts with bank deposits and maintain accurate records of transactions.
- Investigate and resolve payment discrepancies, including short payments, overpayments, misapplied payments and write-offs.
- Collaborate with the Accounts Receivable team to ensure accurate invoicing and customer account management
- Assist with month-end closing activities and provide necessary reports to management.
- Communicate with customers to resolve payment issues and answer inquiries regarding account status
- Support the implementation of process improvements to enhance the efficiency of cash application activities.
- Adhere to company policies and regulatory requirements related to cash management and financial reporting.
Qualification & Experience:
- ACCA / CA Inter / ACMA / M.Com / MBA
- 3 - 5 years of relevant experience
- Hands-on SAP or relevant ERP experience in Accounts Receivable or Credit is required
- Ability to handle high transaction volume (50K+ monthly transactions).