Cash Application Specialist

Vaco
$41,600.00 - $45,760.00 / yr
United States, Kentucky, Louisville
Nov 15, 2024
Position Overview: The Cash Application Specialist is responsible for accurately applying customer payments to appropriate accounts, ensuring all transactions are recorded correctly and promptly. This role requires meticulous attention to detail, strong organizational skills, and the ability to work collaboratively with various departments to resolve discrepancies and support efficient cash flow management. Key Responsibilities: Payment Processing: Accurately post and reconcile customer payments (checks, ACH, wire transfers, and credit card transactions) to appropriate accounts. Process lockbox payments and manual deposits. Ensure all cash receipts are recorded daily and balanced to bank statements. Account Reconciliation: Investigate and resolve payment discrepancies and unapplied cash. Reconcile accounts receivable ledger to ensure all payments are accounted for and properly posted. Perform monthly bank reconciliations and assist with month-end closing activities. Customer Interaction: Communicate with customers regarding payment issues, misapplied payments, and account balances. Collaborate with the collections team to resolve outstanding payments and disputes. Respond promptly to customer inquiries and provide exceptional customer service. Reporting and Analysis: Generate daily, weekly, and monthly reports on cash receipts and application status. Analyze cash application processes and recommend improvements to enhance efficiency and accuracy. Assist with internal and external audits by providing requested documentation and explanations. System Maintenance: Maintain and update customer accounts in the accounting system. Ensure the integrity and confidentiality of financial data. Work with IT and other relevant departments to troubleshoot and resolve system issues. Qualifications: Education and Experience: 2 year degree preferred Minimum of 1years of experience in cash application, accounts receivable, or related finance roles. 3-5 years experience in Accounts Receivable Skills and Competencies: Strong analytical and problem-solving skills. Proficiency in Microsoft Office Suite, particularly Excel. Excellent attention to detail and high degree of accuracy. Strong organizational and time management skills. Ability to work independently and collaboratively in a team environment. Effective communication skills, both written and verbal. Training will be onsite and then swithcing to remote Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply. EEO Notice Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law. Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com . Vaco also wants all applicants to know their rights that workplace discrimination is illegal. By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal. Privacy Notice Vaco LLC and its parents, affiliates, and subsidiaries ("we," "our," or "Vaco") respects your privacy and are committed to providing transparent notice of our policies. California residents may access Vaco's HR Notice at Collection for California Applicants and Employees here. Virginia residents may access our state specific policies here. Residents of all other states may access our policies here. Canadian residents may access our policies in English here and in French here. Residents of countries governed by GDPR may access our policies here. Pay Transparency Notice Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to: the individual's skill sets, experience and training; licensure and certification requirements; office location and other geographic considerations; other business and organizational needs. With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.