Cash Applications Specialist

Job Description

Job Description

Title : Cash Applications Specialist

Contract to hire

Fully onsite in Chicago

Pay : $65000 - $75000 / year

Job Summary :

We are looking for an energetic and experienced Cash Application Specialist to join our Finance team. This role will be responsible for the posting of daily payments to customer accounts, reconciling accounts receivable and performing collection activity on open receivable. Our ideal candidate is a detailed oriented and motivated analytical person who possesses accurate data entry skills. This role will be reporting directly to the AR / Credit Manager.

Job Duties and Responsibilities :

• Process daily customer cash receipts ensuring prompt and accurate recording of payments and deductions to customer accounts.
• Work with a bank portal to pull and save lockbox, ACH and wire payments.
• Document daily receipts in the Daily Deposit log for the respective month.
• Gather remittance advice via email, customer portals or other sources to apply payments and create deductions appropriately.
• Update the Deduction Code Cheat Sheet with any latest information.
• Analyze customer payments and supporting documentation to determine proper classification of cash receipts and deductions taken.
• Research and address unapplied, unallocated, and misapplied receipts and resolve payment discrepancies.
• Assist our deduction team with any repayments of disputed deductions.
• Reconcile daily cash receipts using bank and subledger reports.
• Effectively organize and save supporting payment documentation that will also support the deduction resolution process.
• Provide weekly update on open receivable to upper management.
• Complete any special projects as assigned.

Addison Group is an Equal Opportunity Employer. Addison Group provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, genetic information, marital status, amnesty, or status as a covered veteran in accordance with applicable federal, state and local laws. Addison Group complies with applicable state and local laws governing non-discrimination in employment in every location in which the company has facilities. Reasonable accommodation is available for qualified individuals with disabilities, upon request.

IND 002-003

Salary : $65,000 - $75,000