Bank Reconciliation and Cash Application Specialist

Early Applicant

Exp: 1-2 Years

Job Description

Key Responsibilities

Cash Application:

Perform cash management activities, process and apply daily cash receipts (ACH, wire transfers, checks) to customer accounts in the accounting system.
Reconcile payments received with outstanding invoices.
Investigate and resolve payment discrepancies, short payments, or overpayments.
Work with internal teams to ensure accurate recording of transactions.
Accurately and timely perform daily cash application activities in SAP.
Support for Intercompany and Netting payment activities.
Communicate with internal and external customer's in an effective and efficient manner.

Bank Reconciliation

Perform daily, weekly, and monthly reconciliation of bank accounts.
Identify, research, and resolve discrepancies between bank statements and internal financial records.
Ensure all transactions are properly recorded and that accounts are balanced.
Perform account balances prior month end book closing.

Accounts Reconciliation

Reconcile accounts receivable ledgers, ensuring that all payments are properly accounted for and posted.
Prepare monthly reports summarizing cash activities and balances.

Reporting

Provide timely and accurate reports on cash application, bank reconciliations, and outstanding balances.
Support the month-end close process by providing necessary reconciliations and documentation.
Perform any reporting task whenever required.

Process Improvement

Identify opportunities to improve cash application and reconciliation processes for greater efficiency and accuracy.
Collaborate with other departments to automate processes where possible.

Qualifications

Bachelor's degree in Accounting, Finance, or related field.
1 year of experience in Credit & Collections.
2+ years of experience in cash application, bank reconciliation, or similar accounting roles.
Strong knowledge of accounting principles, cash management, and reconciliation processes.
Proficiency with accounting software, SAP an added advantage. (e.g., SAP, Oracle, NetSuite) and Microsoft Excel.
Strong analytical, problem-solving, and communication skills.

Preferred Skills

Experience working with ERP systems.
Knowledge of accounts receivable, general ledger systems, and financial reporting.
Ability to manage large volumes of transactions with high accuracy, especially during peak periods, month/quarter END.

Key Competencies

Strong attention to detail and accuracy.
Excellent time management and organizational skills.
Ability to collaborate effectively with cross-functional teams.
Ability to handle sensitive financial information with discretion and confidentiality.