Cash Application Specialist
Outdoor Living Supply - franklin, TN
Apply NowJob Description
Role Summary: The Cash Application Specialist is responsible for ensuring the accurate and timely application of incoming and outgoing cash transactions to the appropriate customer accounts and general ledger accounts within the company's ERP system. This role plays a critical part in maintaining the integrity of financial data by managing, balancing, and reconciling multiple bank accounts. A high level of attention to detail, the ability to interpret complex banking transactions, and strong reconciliation skills are essential for success in this position. Job Responsibilities Accurately post incoming payments, including checks, wire transfers, ACH, credit card payments, and other types of funds, to the correct accounts in the ERP system. Apply outgoing payments and refunds to the appropriate customer or vendor accounts. Review and interpret remittance information to ensure the correct allocation of funds. Research and resolve any discrepancies in payment applications, including overpayments, underpayments, and misapplied payments. Perform daily, weekly, and monthly reconciliations of multiple bank accounts to ensure that all cash-related transactions are properly recorded. Investigate and resolve any reconciling items, discrepancies, or variances between the general ledger and bank statements in a timely manner. Assist in month-end and year-end close processes by ensuring that all cash transactions are accounted for and reconciled. Use the ERP system to process, track, and post all banking transactions with precision. Prepare daily and weekly cash reports for management, highlighting key metrics such as unapplied cash, outstanding payments, and reconciliation status. Collaborate with the Accounts Receivable, Accounts Payable, and General Ledger teams to ensure accurate and consistent data across all departments. Ensure compliance with company policies, procedures, and internal controls related to cash management and cash application processes. Support internal and external audits by providing documentation and explanations related to cash transactions and reconciliations. Communicate with customers, vendors, and financial institutions to clarify payment details, resolve discrepancies, and address payment-related issues. Provide prompt and professional responses to inquiries regarding cash application and bank transactions. Assists with related special projects as needed Performs other related duties as assigned by management Versatility, flexibility, and willingness to work within constantly changing priorities with enthusiasm Operate with FORTITUDE: Fun, Optimism, Respect, Teamwork, Integrity, Trust, Unity, Drive, and Empowerment Minimum Job Qualifications Bachelor's degree in Accounting, Finance, or a related field preferred but not required; equivalent work experience may be considered. 2+ years of experience in cash application, banking, or a similar accounting role. Experience working with ERP systems (e.g., SAP, Oracle, NetSuite) is highly desirable. Prior experience with multi-bank account reconciliation and handling a high volume of transactions. Strong attention to detail and accuracy in processing and posting transactions. Excellent analytical skills and the ability to interpret banking transactions. Proficiency in Microsoft Excel and other data management tools. Ability to manage time effectively and meet deadlines for reconciliations and reporting. Excellent communication and problem-solving skills. Self-motivated, with the ability to work independently as well as in a team environment. Strong organizational skills, with the ability to prioritize and manage multiple tasks simultaneously. High level of integrity and discretion in handling sensitive financial information.
Created: 2024-10-15