Cash Application Specialist

1 day ago

Lahore, Punjab, Pakistan Murkez Technologies Full time

We are seeking a motivated and detail-oriented Cash Application Specialist to join our team. The Cash Application Specialist plays a critical role in ensuring accurate and timely processing of incoming payments and reconciliation of accounts. This position requires meticulous attention to detail, strong organizational skills, and the ability to work effectively in a fast-paced environment. The primary responsibility of the Cash Application Specialist is to apply payments received from customers to their respective accounts accurately and efficiently.

Key Responsibilities:

· Payment Processing: Receive, review, and process incoming payments from various sources including checks, wire transfers, ACH, and credit card payments.

· Application of Payments: Apply payments accurately and promptly to customer accounts using accounting software or ERP system, ensuring proper allocation and reconciliation.

· Reconciliation: Perform daily reconciliation of payments received against bank deposits and accounts receivable records to identify discrepancies and ensure accuracy.

· Investigation and Issue Resolution: Investigate and resolve payment discrepancies or issues related to misapplied payments, unapplied cash, and unidentified receipts in a timely manner.

· Communication: Communicate effectively with internal teams, customers, and banks to resolve payment-related inquiries and discrepancies promptly and professionally.

· Documentation and Reporting: Maintain detailed records of payment transactions, adjustments, and reconciliation activities. Generate reports as needed to track cash application metrics and identify trends.

· Process Improvement: Identify opportunities for process improvement and efficiency gains in cash application procedures. Collaborate with cross-functional teams to implement best practices and streamline workflows.

Requirements
  • Bachelor's Degree in Accounting, Finance, Business Administration, or a related field.
  • 2+ Years of progressive experience in corporate finance or related fields.
  • Knowledge of GAAP (Generally Accepted Accounting Principles) and basic financial reporting.
  • Proficiency with Microsoft Excel and familiarity with some ERP systems (e.g., SAP, Oracle, NetSuite, QuickBooks).

Technical Background:

· Proven experience in cash application, accounts receivable, or related financial role.

· Proficiency in using accounting software or ERP systems for payment processing and reconciliation.

· Strong analytical and problem-solving skills with a keen eye for detail.

· Excellent communication and interpersonal skills.

· Ability to prioritize tasks and work effectively under pressure to meet deadlines.

· Familiarity with banking procedures and electronic payment methods is a plus.

· Knowledge of generally accepted accounting principles (GAAP) and financial regulations.

The Cash Application Specialist plays a vital role in ensuring the accuracy and efficiency of the company's financial operations. The ideal candidate is detail-oriented, proactive, and possesses a strong commitment to maintaining high standards of accuracy and integrity in cash handling and reconciliation processes.

Shift Timing:

Monday to Friday

6:00 PM to 3:00 AM Pakistan Standard Time (PST)

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