Cash Application Specialist

• Job Title: Cash Application Specialist • Work Schedule & Location: • Schedule: Monday to Friday, 8:00 AM – 6:00 PM (CST) • Work Arrangement: On-site for the first month; eligibility for remote work thereafter based on performance • Salary: Competitive, based on experience • Position Summary: The Cash Application Specialist is responsible for accurately posting customer payments, reconciling daily cash activity with bank records, researching discrepancies, and resolving unapplied or unidentified cash transactions. This role plays a critical part in maintaining accurate accounts receivable balances, ensuring timely cash posting, and supporting overall financial accuracy within the Shared Services organization. • Key Responsibilities: • Cash Posting & Payment Application: • Accurately post daily customer payments received via ACH, wire transfers, lockbox, credit card, checks, and other payment methods • Apply payments to customer accounts and invoices according to remittance details and company policies • Process high-volume cash receipts while maintaining strong accuracy and productivity standards • Identify and resolve short payments, overpayments, duplicate payments, deductions, and discrepancies • Bank Reconciliation & Cash Balancing: • Reconcile daily cash postings against bank activity and system records • Assist with monthly bank reconciliations and accounts receivable (AR) subledger balancing • Research and resolve variances between bank deposits, customer remittances, and ERP postings • Ensure all cash transactions are properly recorded and documented for audit and compliance purposes • Unapplied Cash & Research Resolution: • Investigate and resolve unapplied, unidentified, and misapplied cash transactions in a timely manner • Collaborate with customers, collections teams, branch personnel, and internal departments to obtain remittance details • Maintain detailed documentation of research, adjustments, and resolutions • Monitor aging unapplied cash reports and proactively drive issue resolution • Collaboration & Support: • Respond to internal and external inquiries regarding payment applications, account balances, and reconciliation issues • Partner with Accounts Receivable, Credit & Collections, Treasury, and Finance teams to resolve discrepancies • Support month-end and year-end close processes • Identify opportunities for process improvements, automation, and efficiency • Qualifications: • Required: • Minimum of 2 years of experience in cash application, accounts receivable, banking, or accounting operations • Experience with ERP/accounting systems (SAP, Oracle, NetSuite, Microsoft Dynamics, or similar) • Strong understanding of accounts receivable processes, cash posting, and bank reconciliation procedures • Intermediate Microsoft Excel skills (formulas, pivot tables, data analysis) • Strong analytical, organizational, and problem-solving skills • High attention to detail with strong accuracy • Ability to manage multiple priorities and meet deadlines in a fast-paced environment • Effective written and verbal communication skills • Preferred: • Experience with lockbox banking systems and electronic payment platforms • Knowledge of general ledger accounting and reconciliation practices • Ability to independently resolve complex payment discrepancies and unapplied cash issues • Experience in Shared Services or multi-entity environments #SolvoGlobal #LI-PROMOTED #LI-Hybrid