Cash Application Specialist

Position Summary

The Cash Application Specialist is responsible for the accurate, same-day posting of all customer payments to the accounts receivable ledger. This is a dedicated cash application role: the position applies cash and only applies cash.

Essential Duties & Responsibilities

• Match payments to open invoices using customer remittance advice; apply per remittance detail exactly as provided.
• Post payments with missing or incomplete remittance to the customer account as unapplied cash and route to the AR Reconciliation Specialist within one business day — do not hold payments unposted while researching.
• Process and post credit card payments taken by collectors or customer service, including surcharges where applicable.
• Reconcile daily cash postings to bank deposits and lockbox totals; resolve posting-to-deposit variances the same day.
• Flag short payments, overpayments, and unidentified payments to the AR Reconciliation Specialist with supporting remittance images.
• Maintain organized digital records of remittance advice, deposit slips, and payment backup for audit support.
• Process customer refund requests for approval (approval and disbursement handled by management/AP).
• Support month-end close by ensuring all cash received in the period is posted before the AR cutoff. Segregation of Duties — This Role Does NOT Contact customers about past-due balances or negotiate payment terms.
• Issue credit memos, write-offs, or adjustments to customer balances.
• Research disputed invoices or deductions (routed to AR Reconciliation Specialist).
• Release credit holds or change credit limits.

Qualifications

• 2+ years of high-volume cash application experience; distribution, wholesale, or food industry preferred.
• Experience with ERP-based AR modules (VAI S2K, D365, or comparable) and lockbox/bank remittance files.
• Strong 10-key and data entry accuracy; demonstrated attention to detail under daily deadlines.
• Proficiency in Excel (VLOOKUP/XLOOKUP, filtering, reconciliation worksheets).
• High school diploma or equivalent required; associate degree in accounting or related field preferred.

Key Performance Metrics

• Same-day posting rate (target: 98%+ of payments received by cutoff posted same day).
• Application accuracy (target: Unapplied cash aging (target: all unapplied items routed to reconciliation within 1 business day).
• Daily cash-to-deposit reconciliation completed with zero unresolved variances at week end.