Cash Applications Specialist

Description

Under general supervision, the duties may include maintaining or posting records in automated systems; screening, reviewing, verifying, and coding accounting transaction documents; verifying and examining accounting records; correcting errors in posting entries, computations, and balances; reconciling balances, records, and documents. Employees at this level perform various tasks that require the application of judgment and initiative, a thorough knowledge of bookkeeping, and a basic knowledge of accounting practices.

Duties/Responsibilities:

• Review vouchers, requisitions, purchase orders, and other transaction documents for completeness, accuracy, availability of funds, appropriateness of transaction, and conformity to policies, procedures, and/or contractual agreements.
• Assist in monitoring PayIce email for incoming receipts, post, and file accordingly in the PayIce shared mailbox.
• Attach all documentation related to the cash receipt in the financial system.
• Correct transaction documents, which may require revision of other documents or entries and the original; may initiate other actions.
• Code documents that require knowledge in determining the proper classification of expenditure codes and accounting codes
• Post financial information to journals, registers, and ledgers by electronic equipment.
• Reconcile discrepancies by checking all possible sources of disagreement, reconstructing probable actions, and recognizing the effect on other accounts; prepare correction documents as required.
• Post cash and credit card payments, upload lockbox receipts from inbound payments and upload Automated Clearing House [ACH] payments.
• Interface with banks and electronic uploads including analysis of daily receipts to resolve open issues.
• Work with the Revenue Manager to identify areas for process improvement.
• Analyze credit card payments and monthly reconciliation.
• Initiate client-facing discussions regarding the research of unapplied funds to reconcile and resolve promptly.
• Work directly with billing partners and billing specialists to analyze client overpayments and short payments.
• Notify billing partners and supervisors when there are incoming and pending funds.
• Analyze client retainer funds, settlements, and third-party funds.
• Determine opportunities for collections and reconciliation of outstanding client invoices.
• Analyze and develop automated reporting for missed collection opportunities.

Requirements

Required Skills/Abilities:

• Requires very good knowledge of general administrative operations procedures and knowledge of job-specific processes to successfully execute and complete the more progressive/complex duties of the job.
• Ability to follow company policy and understand any rules or regulations governing the work being completed and the impact work has on the department or company.
• Must have very good knowledge of technology including computers and software programs such as MS Office or MAC word processing, spreadsheets, or other programs specific to the job to complete duties successfully.
• Requires good knowledge of multiple functions or areas of the business in which there is frequent contact while completing daily work assignments on the job.
• Must have very good oral and written communication skills sufficient to explain departmental policy, methods and/or procedures when completing assignments.
• Requires very good organizational skills sufficient to accomplish work by established deadlines and the ability to coordinate phases of work with others.
• Previous experience in the payment processor, collections, legal, or accounting industry
• Must be able to utilize technology to streamline and improve processes.
• Strong interpersonal skills are necessary to deal courteously and effectively with a diverse group of people. Must be able to work with individuals at all levels of an organization.
• Apply bookkeeping practices and procedures.
• Apply basic accounting techniques.
• Apply office methods and procedures.
• Compile complex financial information.
• Operate electronic and/or other standard office equipment.
• Work independently and exercise judgment.

Education and Experience:

The qualifications below are representative of the knowledge, skills, and/or abilities required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.

• High school diploma or equivalent required with 2-4 years of relevant administrative/operational support in an office environment directly related to the duties of the job OR demonstrated ability to meet the job requirements through a comparable number of years of work experience. 
• A bachelor’s or associate degree in an accounting-related field preferred

Physical Requirements:

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.