Cash Applications Specialist

Job Description

Job Description

Position Overview :

The Cash Application Specialist is responsible for applying cash to a portfolio of receivables.   The Cash Application Specialist is also responsible for abiding by the procedures put in place to ensure all cash is applied timely and accurately.

Commitment to Internal Control :

The incumbent must understand, abide and uphold the system of internal controls related to the essential duties and responsibilities of the position.

Essential Duties and Responsibilities :  (List in order of time spent)

The cash application specialist is responsible, but not limited to the following :

• General Function
• Applying cash to the Info-Lease, Lease accounting system
• Use of Receivables Edge – Lockbox check image website
• Electronic Transfer of Lockbox Transmission File
• Access invoice information to reconcile figures remitted
• ACH payment processing
• Bank Deposits & check processing
• Returned payment processing
• Review Bank Statement(s) for payment processing
• Investigating / correcting misapplied payments
• Distributing reports
• Resolve unidentified cash application issues on a timely basis
• May involve working with Collection & Customer Service Departments to determine application of payment
• Develop cross reference worksheets to ease identification of third-party schedules to Info-Lease contract numbers
• Working with the Unapplied Suspense report to ensure payments are identified and applied in a timely basis.
• Overpayments / Participations – ensure overpayments / participations are applied to the correct open item / GL so that funds can be sent back to the appropriate recipient on a timely basis; within 30 days for overpayments; the next day for participations.
• Contract maintenance in Info-Lease (disposition, restructuring etc.)
• Other projects including negative net investment research, process testing, and tasks assigned by supervisor.

KPI’s (Key Performance Indicators) :

Responsibility and Decision Making Authority :

Management / Supervisory Responsibilities :

Qualifications :

Competencies : Thinking Skills

Communications

Interpersonal Relationships

Technical and Professional

Personal Qualities

Education and Experience :

Licensing and Certification :

Working Hours :

Tools and Equipment Used :

Travel :

Physical Demands :

The job description does not constitute an employment contract, implied or otherwise, other than an “at will” relationship and is subject to change by the employer as the needs of the employer and requirements of the job change.

The position is non-exempt and the salary will be between $54,600.00 and $65,000.00 with an opportunity to earn a discretionary annual bonus.

The salary range is determined and based on internal equity, market data / ranges, applicant's skills, prior relevant experience and education.

Additional benefits :