POSITION SUMMARY:   

The Cash Applications Specialist will be responsible for ensuring accurate and timely application of incoming customer payments in accordance with company policies and internal controls. This specialist will manage end-to-end cash application processes, including processing electronic payments, validating remittance advices, handling payment exceptions, and ensuring reconciliation between bank and general ledger balances. This role is critical in maintaining accurate accounts receivable records and supporting overall cash flow forecasting. 

PRIMARY RESPONSIBILITIES/ACCOUNTABILITIES OF THE JOB: 

• Apply daily customer payments to appropriate customer accounts and invoices in the ERP system. 

• Post electronic payments including ACH and wire transfers. 

• Review and validate remittance advice details and ensure proper image capture for audit and reference. 

• Retrieve remittances and payment documentation 

• Daily log update of advance electronic remittance files (EDI820 reports and EDI Payment Advice Creation) 

• Create debit memos into our Imaging & Document Storage System, as needed for customer deductions and short payments. 

• Import and Index documents into our Imaging System 

• Create & Post zero-dollar payments for invoice application in compliance with internal controls. 

• Retrieve documentation needed from Customer Payment Portal 

• Apply payments and remittances from Customer Payment Portal. 

• Perform regular bank image audits to ensure complete file received.  

• Monitor and log daily index files and cold reports in our Imaging & Document Storage System 

• Conduct daily tie-out between general ledger entries and bank statements to ensure reconciliation. 

• Process adjustment and write-off requests submitted by internal departments. 

• Run and distribute daily bank cash reports and escalate discrepancies promptly. 

• Collaborate with  collections and deductions teams to resolve unapplied cash and payment discrepancies. 

• Support internal and external audits as needed. 

SUPERVISORY RESPONSIBILITIES: 

Direct: n/a 

Indirect: n/a 

BUDGETARY RESPONSIBILITIES:   

• No direct budget ownership or capital expenditure responsibilities. 

• Responsible for supporting accurate and timely application of cash, which impacts cash flow reporting, DSO, and overall working capital performance. 

• Expected to ensure data accuracy that contributes to financial integrity and audit compliance. 

DECISION MAKING:   

• Independently resolve routine and complex cash application discrepancies within defined policies. 

• Escalate exceptions, unidentified payments, or reconciliation variances to manager with recommended actions. 

• Prioritize daily tasks based on payment volume, customer priority, and critical deadlines. 

• Recommend process improvements based on recurring issues or inefficiencies identified. 

RESOURCEFULNESS/CREATIVITY:   

• High attention to detail and accuracy. 

• Adapts quickly to changes in payment formats, banking procedures, or customer behavior. 

• Collaborates cross-functionally to resolve non-standard cases, such as missing remittances or misapplied payments. 

• Utilizes available tools and systems efficiently to overcome data gaps or ambiguities in transaction details. 

• Continuously seeks out process enhancements or automation opportunities to improve cash application accuracy and turnaround time. 

ENVIRONMENT:  

• Hybrid work model. 

• Flexibility to work outside standard hours periodically to support global counterparts.  

QUALIFICATIONS & EXPERIENCE: 

Experience: 2-5 years of experience in cash application or order-to-cash (O2C) processes. 

Working knowledge of ERP systems (e.g., SAP, Oracle, or similar) and payment portals. 

           Education: Bachelor’s degree in Accounting, Finance, Commerce, or related field preferred. 

Skills:  Proficiency with MS Excel; ability to manage large data sets and perform reconciliations. 

Ability to work effectively across time zones and international teams. 

Good communication and interpersonal skills to work effectively in a global team environment. 

Strong analytical and problem-solving skills with high attention to detail.