Cash Application Specialist

Job Description

Job Description

We are looking for a detail-oriented Cash Application Specialist to join our team on a contract basis. This position focuses on applying incoming payments accurately, maintaining reliable reconciliations, and helping ensure the integrity of receivables activity. The ideal candidate brings strong analytical skills, sound judgment, and a proactive approach to improving cash application processes while working closely with cross-functional partners.

Responsibilities:
• Record and allocate a high volume of incoming payments from multiple channels, including lockbox transactions, wire activity, and online payment methods, with a strong focus on accuracy and timeliness.
• Complete routine bank and sub-ledger reconciliations and investigate variances to confirm that cash activity is fully and correctly reflected in financial records.
• Analyze unresolved payment items such as unapplied cash, partial remittances, overpayments, and other discrepancies, then drive issues through to resolution.
• Collaborate with Accounts Receivable, Billing, Sales, and Customer Service teams to clarify payment details and resolve account-level exceptions efficiently.
• Review refund requests, validate supporting information, and process provider refunds in accordance with established controls and policies.
• Contribute to month-end close by preparing cash-related support, reconciling receivable balances, and ensuring transactions are posted within reporting deadlines.
• Produce recurring and ad hoc cash reporting to support operational visibility and financial decision-making.
• Recommend and implement workflow enhancements that improve efficiency, strengthen accuracy, and support future growth in transaction volume.
• Maintain clear process documentation and support internal control activities related to cash handling and financial reporting.
• Offer day-to-day guidance and training to entry-level team members while fostering continuous learning and process knowledge sharing.• Experience in cash application, payment posting, or accounts receivable support within a high-volume transaction environment.
• Working knowledge of bank reconciliations, sub-ledger balancing, and investigation of payment exceptions.
• Ability to resolve short pays, overpayments, unapplied cash, and other remittance discrepancies with accuracy and urgency.
• Proficiency in Microsoft Excel for analysis, reconciliation, and reporting tasks.
• Strong attention to detail with the ability to manage deadlines and maintain data accuracy across multiple payment sources.
• Effective communication skills and the ability to work cross-functionally with finance and customer-facing teams.
• Understanding of internal controls, documentation standards, and financial reporting support processes.