Job Description
The AR/Cash Application Specialist plays a crucial role in managing cash payments, ensuring accuracy in account transactions, and supporting various financial processes. Here's a breakdown of their responsibilities and qualifications:
General Job Responsibilities:
Cash Application: Apply cash received to the correct accounts, ensuring accuracy in financial records.
Credit Card Processing: Handle credit card transactions and processes effectively.
Account Adjustments: Complete necessary adjustments to accounts when required.
Invoice Management: Sort, separate, and mail invoices as needed. Print or fax invoice copies as necessary.
Payment Processing: Process payments efficiently and accurately.
Payment Reconciliation: Reconcile payments to ensure they match the company's records.
Assist Other Departments: Collaborate with other departments and assist with their responsibilities when necessary.
Additional Responsibilities:
Cash Application and AR Processes: Manage cash applications and accounts receivables using the Oracle system.
Timely Cash Application: Ensure timely and accurate application of cash received via checks, ACH, or wires into the company's bank accounts, adhering to company policies.
Recording Daily Remittances: Record daily remittances accurately in the appropriate accounts.
Unidentified Cash Receipts: Resolve issues related to unidentified and unapplied cash receipts promptly.
Payment Reconciliation: Perform payment reconciliations and track special payment arrangements. Collaborate with other teams, such as sales, customer service, and purchasing, to resolve issues like short payments, bank fees, and unidentified cash items.
Remittance and Payment Information: Upload remittance and payment information as necessary.
Chargeback Processing: Research and process chargebacks for vendor reimbursable expenses.
Credit Memos: Prepare and process credit memos for deductions with valid supporting documentation.
Credit Card Transactions: Handle credit card payments, chargebacks, and credit card refunds efficiently.
Qualifications:
Experience: 1-3 years of prior experience working with cash applications is preferred.
Numerical Aptitude: Strong numerical aptitude and accurate data entry skills are essential.
Software Knowledge: Working knowledge of Microsoft Excel is required. Prior experience with the Oracle system software is strongly preferred.
Communication: Good communication skills are a must, as you will collaborate with various teams and possibly interact with external parties.
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