Cash Application Specialist

Cash Application Specialist 

Temporary 3 month contract

In-person: 6600 Goreway Drive, Unit D, Mississauga, ON (Derry Rd/Goreway)

Position Summary & Purpose

We are seeking a detail-oriented and organized Cash Applications Specialist to join our team. The ideal candidate will be responsible for accurately and efficiently applying customer payments to accounts, ensuring proper account reconciliation, and maintaining accurate financial records. This role plays a critical part in ensuring timely and accurate financial reporting.

Primary Responsibilities & Duties

Key Responsibilities:

1. Payment Processing:

• Post all cheque, cash, electronic transfer, credit card payments and credit and debit adjustments to the correct customer accounts in the billing system on a daily basis.
• Investigate and address unapplied and unallocated receipts daily.
• Accurately prepare all deposit slips and perform daily deposit at the bank as required.

2. Customer Account Maintenance

• Maintain accurate and up-to-date records of customer accounts.
• Research and resolve account discrepancies, including short pays, overpayments, and misapplied funds.

3. Collaboration

• Work closely with the Accounts Receivable, Billing, and Customer Service teams to resolve payment-related inquiries.
• Communicate with customers to clarify payment application and resolve issues.

4. Reconciliation and Reporting:

• Maintain daily report for all Non-Account Receivable cash receipts.
• Prepare total deposit listing for review on a daily basis
• Perform daily and monthly reconciliations of cash receipts to ensure data accuracy.
• Generate and maintain reports related to cash application activities for management review
• File and post journals, cash receipts and stub/cheque copies on a daily basis

5. Process Improvement:

• Identify opportunities to improve cash application processes and efficiency.
• Assist in the development and documentation of standard operating procedures.

Qualifications

Education

• School diploma or equivalent required; Associate or Bachelor’s degree in Accounting, Finance, or a related field preferred.

Experience

• 2+ years of experience in cash applications, accounts receivable, or a similar role.
• Familiarity with accounting software and ERP systems (Microsoft Business Central preferred).

Skills

• Strong attention to detail and accuracy.
• Excellent math skills
• Proficient in Microsoft Office, especially Excel.
• Excellent problem-solving and analytical skills.
• Strong communication and interpersonal skills.

Additional Requirements:

• Ability to work in a fast-paced environment and meet deadlines.
• Strong organizational skills and ability to prioritize tasks effectively.