Job Description

Cash Application Specialist

The Cash Application Specialist is responsible for accurately applying incoming payments to customer accounts, resolving discrepancies, and supporting overall accounts receivable operations. This role ensures the timely and precise posting of payments while maintaining strong internal controls and customer relationships.

Key Responsibilities

• Post daily customer payments (ACH, wire, check, credit card) accurately and timely manner
• Research and resolve unapplied cash, short payments, overpayments, and deductions
• Reconcile customer accounts and identify discrepancies
• Process lockbox transactions and remote deposits
• Communicate with customers regarding remittance details and payment issues
• Collaborate with billing, collections, and sales teams to resolve account discrepancies
• Maintain documentation for audit and compliance purposes
• Assist with month-end closing activities related to accounts receivable
• Prepare cash application reports and metrics as needed
• Ensure adherence to internal controls and company policies

Required Qualifications

• High school diploma or equivalent (Associate's or Bachelor's degree in Accounting/Finance preferred)
• 13 years of accounts receivable or cash application experience
• Strong data entry accuracy and attention to detail
• Experience with ERP/accounting systems (e.g., SAP, Oracle, NetSuite, JD Edwards, etc.)
• Proficiency in Microsoft Excel
• Strong analytical and problem-solving skills
• Excellent communication skills (written and verbal)
• Ability to manage high transaction volume

Preferred Qualifications

• Experience with lockbox processing
• Understanding of deductions management
• Knowledge of GAAP principles
• Experience in high-volume corporate environments

Key Competencies

• Detail-oriented
• Organized and deadline-driven
• Strong reconciliation skills
• Customer service mindset
• Process improvement orientation

Cash Application Specialist KPIs

1. Cash Posting Timeliness

Goal: 95100% of payments posted within 24 hours of receipt

• Measures speed and operational efficiency
• Critical for accurate AR aging

2. Posting Accuracy Rate

Goal: 99%+ accuracy

• Errors divided by total transactions
• Tracks misapplied payments, incorrect amounts, wrong accounts

3. Unapplied Cash Percentage

Goal: < 23% of total cash receipts

• Ensures payments are properly matched
• Reduces downstream collection issues

4. Daily Processing Volume

Goal: Meets or exceeds benchmark for company size

• Example: 200500 transactions/day (varies by system automation level)
• Measures productivity

5. Research & Resolution Time

Goal: 90% of discrepancies resolved within 35 business days

• Tracks efficiency in handling short pays, deductions, and unidentified payments

6. Month-End Close Support

Goal: 100% completion of assigned tasks on schedule

• No delays to AR close due to cash posting backlog

7. Aging Impact Contribution

Goal: Reduce AR aging errors tied to misapplied payments

• Indirect KPI measuring how clean posting supports collections

8. Customer Remittance Compliance

Goal: 95%+ remittances properly documented

• Ensures audit trail and strong internal controls

9. Process Improvement Contributions

Goal: 12 documented efficiency improvements per year

• Automation suggestions
• Reduction in unapplied cash
• Workflow enhancements

Why Build a Career with Us?

Everyone's an Owner of the Company: Because every team member contributes to Flow Control Group's success, everyone has the benefits of ownership! Flow Control Group has a broad-based employee ownership program extended to every employee within our portfolio companies.

Competitive Benefits: Enjoy an attractive benefits package that includes Medical, Dental and Vision insurance (among other plans), competitive 401(k) matching program, career growth opportunities, employee referral program, paid time off and holidays, as well as parental leave. Training: FCG University learning and training platform available to all employees offering over 80k courses.

Career Growth Opportunities: At Flow Control Group, we are committed to your professional development. With a vast network of over 100 brands across North America, we provide unparalleled opportunities for growth and advancement. Whether you're just starting your career or looking to take it to the next level, we offer custom training programs, mentorship, and a supportive environment to help you achieve your goals. Join us and be part of a dynamic team where your contributions make a real impact.

Equal Opportunity Employer: Flow Control Group is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or any other legally protected characteristics.

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