Cash Application Level 14 Associate

Company Overview

(A brief description of the company, its industry, and culture is not specified; this section has been omitted.)

Job Summary

The Cash Application Level 14 Associate is responsible for accurately applying customer payments to outstanding invoices, resolving routine unapplied cash issues, and ensuring that the Accounts Receivable (AR) ledger reflects correct balances. This role involves working with various financial documents and systems while handling standard customer and internal queries related to payment allocation.

Responsibilities

• Review and post customer payments from various sources including bank transfers, lockbox, cheques, and credit cards.
• Match customer payments against invoices using remittance advice or other supporting documents.
• Handle unapplied and unidentified cash by investigating and resolving discrepancies.
• Reconcile daily cash postings with bank statements.
• Coordinate with Collections, AR, and Customer Service teams to resolve routine payment issues.
• Process adjustments, write-offs, refunds, and credit/debit memos following company policy.
• Monitor and update unapplied cash reports, ensuring timely clearance.
• Support month-end closing activities, including reconciliations and reporting.
• Ensure compliance with company policies, Sarbanes-Oxley (SOX)/internal controls, and audit requirements.
• Escalate complex issues to Level 13/12 for resolution.

Qualifications

• Strong attention to detail and accuracy in processing financial transactions.
• Proficiency in using ERP systems for payment processing.
• Knowledge of cash application processes and accounts receivable functions.
• Excellent analytical skills to investigate and resolve discrepancies.
• Good communication skills to coordinate with other departments and respond to queries.
• Ability to work independentlyand manage time effectively.
• Bachelor's degree in Finance, Accounting, or a related field is preferred.
• Understanding of Sarbanes-Oxley (SOX) compliance and internal controls.

Preferred Skills

• Experience with cash application software or ERP systems (e.g., SAP, Oracle).
• Familiarity with financial reconciliation processes.
• Ability to handle complex customer service issues.
• Previous experience in a finance or accounting role is a plus.

Experience

• Requires a minimum of 2-4 years of relevant experience in accounts receivable or cash application.