Cash Application Job Description
Cash application
provides document deliverables, as required by DIR, in Microsoft Word, Microsoft Excel, and/or Visio.
Cash Application Duties & Responsibilities
To write an effective cash application job description, begin by listing detailed duties, responsibilities and expectations. We have included cash application job description templates that you can modify and use.
Sample responsibilities for this position include:
Application of receivables to Cash Receipts Log, QuickBooks and Finance Trackers for all lines of business
Recognizing missed revenue opportunities by reconciling payment detail to financial tracking rates to determine discrepancies and communicate these to accounting
Ensure compliance with all policies, procedures and standard business practices, as they pertain to cash application, the Business Service Center, including internal control procedures and Sarbanes-Oxley regulations
Identify opportunities and implement process efficiencies to improve cash flow and reduce operational costs
Provide reporting to management on issues, projects and processing statistics (unapplied, credit notes )
Daily processing of cash receipts and postings to customer accounts, including payments made by credit card, lockbox and branch deposits other adjustments to customer accounts for credits/debits and account write-offs
Identify issues with billing, pricing or other customer service areas
Interface with the Credit and Collections function Account Managers and Branch Managers to troubleshoot and resolve customer payment discrepancies
Contact customers via phone and email for payment detail refunds for overpayments
Applies payments and contractual adjustments to accounts in an accurate and timely manner
Cash Application Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Cash Application
List any licenses or certifications required by the position: EPIC, MBA, IFRS, CPA
Education for Cash Application
Typically a job would require a certain level of education.
Employers hiring for the cash application job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and High School Degree in Accounting, Finance, Business, Education, Associates, General Education, Business/Administration, Technical, Finance/Accounting, Accountancy
Skills for Cash Application
Desired skills for cash application include:
Microsoft Excel
SAP
Accounting
Excel
Microsoft Office -- Word and Excel
Finance
English
General business
Navision
Outlook
Desired experience for cash application includes:
High school diploma (bachelor a plus)
You must submit your application for employment online to be considered
3+ years of team leadership/supervisory experience in Billing/Accounts Receivable preferably in healthcare billing and collection setting with knowledge of governmental, commercial insurance, and Private Pay payer billing requirements and EOB
Previous project management, User Acceptance Testing, and set-up of electronic billing and remittance experience strongly preferred
Advanced computer proficiency including Microsoft office (ie
Must possess excellent customer service, communication, and organization skills
Cash Application Examples
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Cash Application Job Description
Job Description Example
Our company is hiring for a cash application. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cash application
- Ensure accuracy of cash postings by contacting Pharmaceutical companies to verify payment remittance detail
- Review, interpret and discuss remittances from clients for data accuracy
- Work with collections and invoicing staff to ensure accuracy in posting receivables
- Assist operations with financial information requests and questions
- Files correspondence from sponsors, checks, and other documents as necessary
- Maintains files in an organized and accessible manner to include updating information, purging files on a regular basis and creating new filing systems as needed
- Responsible for projects assigned to team
- Occasional contact with higher level inter-organizational associates concerning projects, operation decisions, scheduling requirements or contractual clarification
- Help controllers in chasing customers for details relating to un-allocated payments
- Accepts payment on certain accounts as appropriate and resolves most questions and problems, referring only the most complex to higher levels
Qualifications for cash application
- Ensure any inbound back-feed/validation corrections are actioned within required timelines
- Between 1 – 3 years direct job experience
- Familiarity with AR systems
- Excellent detail orientation and Strong math and problem-solving skills
- Computer literate with working knowledge of Microsoft Office Suite, especially Excel
- Two years of cash application experience
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Cash Application Job Description
Job Description Example
Our company is searching for experienced candidates for the position of cash application. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for cash application
- Reconcile payments as indicated on the clients’ remittance documents
- Process cash transfers between A/R systems to reflect payments against original orders
- Act as back-up for other Cash Application Agents when necessary
- Document and keep updated procedures
- Partner with Sales, Project management, fulfillment and repair/service teams to ensure
- Apply daily receipts from tenants and vendors
- Assist with month-end accounts receivable close process
- Ability to meet all deadlines - daily, monthly
- Ensure department's procedures, policies and internal controls are properly followed
- Performs various other duties and projects as assigned
Qualifications for cash application
- Experience applying cash in SAP and general knowledge of various payment alternatives (ACH, Wire Transfer, Bank Drafts, Credit Card, ) preferred but not required
- SAP A/R experience is strongly preferred, or experience in a similar A/R management system
- Possess strong interpersonal skills and some ability to analyze, explain, and draw logical conclusions from operational, financial, regulatory and/or business data
- College Student of Business Administration in finale course 75%
- 2 -4 years’ experience in Cash Application or Accounts Receivable
- 1-2 years’ experience in Credit Collection
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Cash Application Job Description
Job Description Example
Our company is looking to fill the role of cash application. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for cash application
- Posts all accounts receivable, bad debt, and credit card payments to patient accounts so that patient accounts are current and payments, are recorded accurately
- Interact frequently with internal departments
- Responsible for coordinating cash application functions
- Researching unapplied cash
- Post and apply daily cash receipts to customer accounts
- Conduct payment research requests and respond to internal business partners
- Facilitate client refunds
- Utilize an intermediate level of business and financial acumen
- Ability to interpret information provided by internal business partners and take appropriate course of action to resolve issue
- Ability to work cross-functionally to resolve upstream process issues
Qualifications for cash application
- Experience with Microsoft Office applications, including strong Excel and Access skills, required
- Bachelor’s Degree in Accounting or other business related field required
- At least basic Accounting knowledge (Credits and Debits)
- Working knowledge of Microsoft Excel & elementary math calculations
- Minimum of 1 year of experience in accounts receivable, cash accounting, or related field
- You hold a College degree in accounting
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Cash Application Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of cash application. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for cash application
- Coordinates with customer service departments to ensure that credit memos are applied to customers in a timely manner
- Prepares various financial reports
- Interfaces with sister divisions for timely cash receipt transfers
- Contacts customers on collection issues
- Reviews all lockbox deposits
- Processes ACH and EFT payments using the bank’s daily cash report
- Processes refunds through check or wire to clear credit invoices or overpayments
- Updates the Cash Receipts and Wire Tracking Report
- Handles all written and telephone inquiries applicable to cash applications
- Files AR Cash reports and batches following the retention schedule
Qualifications for cash application
- You have a minimum of two (2) years in accounts receivables (cash application) experience
- You have experience in a large organization (an asset)
- You are experienced with Microsoft Office Suite products and have advanced experience with Excel
- You possess excellent problem solving skills
- You demonstrate resourcefulness
- You have good time and stress management, and you are able to handle priorities
5
Cash Application Job Description
Job Description Example
Our growing company is hiring for a cash application. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for cash application
- Oversees the maintenance of detailed records of approximately 12,000 daily customer receipt transactions in multiple bank accounts
- Oversees reconciliation of unidentified payment issues in addition to resolving misapplied payment issues for customers with a sense of urgency
- Continuous communication with Treasury and banking vendors in order to ensure highest level of automation and timeliness in applying payments to customers' accounts
- Works with key stakeholders across the business to develop flexible and reliable payment methods for customers and leads implementation thereof
- Designs, plans and executes remittance policies and procedures
- Establishes, documents, implements and monitors Service Level Agreements (SLAs) with vendors and ensures vendor activities adhere to all DE policies o Engages the team to deliver continuous improvements directly impacting financial performance
- Comparison of payment details with open receivables booked on customer account
- Proactive approach in resolution of unapplied cash
- Reconciliation of Account Receivable related accounts
- Active communication with internal customers and business units in order to ensure smooth process of cash application
Qualifications for cash application
- Your knowledge of SAP is an asset
- You are bilingual, French and English (oral and written)
- Participate actively in relevant simplification & enterprise standard
- Experience with driving process
- Strong math, accounting, and computer skills
- Familiar with external audits