Job Summary: As a Cash Application Analyst, you will play a crucial role in ensuring accurate and efficient processing of incoming payments. Your primary responsibility will be to reconcile and apply payments received from customers, ensuring they are accurately recorded in the financial system. This role involves collaboration with various departments to resolve discrepancies, maintain financial accuracy, and contribute to the overall financial health of the organization.
Key Responsibilities:
1. Payment Processing:
o Apply and reconcile incoming payments from various sources, such as checks, wire transfers, and electronic payments.
o Ensure accurate and timely posting of payments in the financial system.
o Process and reconcile incoming credit card payments from clients in compliance with merchant regulations.
o Manage merchant services transactions, ensuring proper processing, reconciliation, and reporting of credit card payments through various platforms.
2. Reconciliation:
o Perform daily, monthly, and yearly reconciliation of cash transactions to identify and resolve discrepancies.
o Investigate and resolve variances between recorded and deposited amounts.
3. Communication and Collaboration:
o Coordinate with internal teams, including Accounts Receivable and customer service, to address payment-related queries and discrepancies.
o Communicate effectively with customers to resolve payment-related issues and inquiries.
o Monitor and respond to messages in designated Outlook inboxes to ensure timely resolution of requests.
4. Reporting:
o Generate and analyze reports related to cash application activities.
o Provide regular updates on cash application metrics and performance.
5. Process Improvement:
o Identify opportunities for process improvements in cash application procedures.
o Implement best practices to enhance efficiency and accuracy.
6. Compliance:
o Ensure compliance with company policies and industry regulations related to cash application processes.
