What Is a Cash Applications Specialist and How to Become One
Table of Contents
- What Is a Cash Applications Specialist?
- How to Become a Cash Applications Specialist
- How much does a Cash Application Specialist make in the US?
- What are the goals for a Cash Application Specialist?
- What are the different types of Cash Applications?
- Cash Applications Specialist Job Description Sample
- Cash Applications Specialist Job Description Sample
What Is a Cash Applications Specialist?
A cash applications specialist is responsible for the accounts receivable processes for a business or client. People in this job deal with payments and apply them to the correct customer accounts. The duties of a cash applications specialist are to manually review all remittance from customers or clients, and match the payments to the appropriate invoices to make sure payment has been received.
How to Become a Cash Applications Specialist
To become a cash applications specialist, you need accounting and math skills, close attention to detail, and the customer service skills to handle disputed payments encountered through your duties. You can occasionally start this career with a high school diploma or GED certificate and learn your responsibilities on the job, but most employers prefer applicants who have some qualifications and postsecondary education, such as an associate degree or certificate in business, accounting, or a related field. You need knowledge of each aspect of the application process as you manually review each remittance from a vendor or customer and also check each invoice to verify payments.
How much does a Cash Application Specialist make in the US?
What are the goals for a Cash Application Specialist?
What are the different types of Cash Applications?
Cash Applications Specialist Job Description Sample
With this Cash Applications Specialist job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Cash Applications Specialist role.
Job Summary
Job Summary: We are looking for an energetic and experienced Cash Applications Specialist to join our finance team. We process high volumes of transactions and remittances, scanning, invoicing, and reconciling items from potentially disparate pieces of the company's financial interests. As part of our team, you reconcile account receivables, perform collection management processes, and post payments reconciliation. You create monthly reports for relevant stakeholders and management, observing all relevant regulations. Our ideal candidate is a motivated problem-solver who can collaborate effectively on larger teams and possesses accurate data entry skills and an eye for detail.
Duties and Responsibilities
- Process and reconcile account receivables and remittances
- Create regular reports to accurately track financial information
- Perform periodic audits of the general ledger and company financial documents
- Address payment issues like double payments or other discrepancies
- Engage in collection management processes as necessary
Requirements and Qualifications
- Associate degree in finance or accounting preferred but not required
- Prior experience in accounts receivable and cash applications
- Ability to work independently and contribute to broader team objectives
- Ability to multitask and manage time amid multiple deadlines
- Superb written and verbal communications skills
Cash Applications Specialist Job Description Sample
With this Cash Applications Specialist job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Cash Applications Specialist role.
Job Summary
Job Summary: We are looking for an energetic and experienced Cash Applications Specialist to join our finance team. We process high volumes of transactions and remittances, scanning, invoicing, and reconciling items from potentially disparate pieces of the company's financial interests. As part of our team, you reconcile account receivables, perform collection management processes, and post payments reconciliation. You create monthly reports for relevant stakeholders and management, observing all relevant regulations. Our ideal candidate is a motivated problem-solver who can collaborate effectively on larger teams and possesses accurate data entry skills and an eye for detail.
Duties and Responsibilities
- Process and reconcile account receivables and remittances
- Create regular reports to accurately track financial information
- Perform periodic audits of the general ledger and company financial documents
- Address payment issues like double payments or other discrepancies
- Engage in collection management processes as necessary
Requirements and Qualifications
- Associate degree in finance or accounting preferred but not required
- Prior experience in accounts receivable and cash applications
- Ability to work independently and contribute to broader team objectives
- Ability to multitask and manage time amid multiple deadlines
- Superb written and verbal communications skills