Cash Applications Specialist

Job Description:

• Monitor Accounts Receivable payment communications, including daily AM, PM, and overnight payment information, and review the Daily Deposit Spreadsheet to identify assigned cash application work.
• Filter daily payment activity by cash application ownership to determine which receipts and applications require action.
• Review system-generated auto-receipt files (EDI 820) to confirm which Wells Fargo wires/ACHs were already created by the system before processing manually.
• Use Matchwise to auto-receipt and apply lockbox check payments when applicable, then review results for accuracy and exception handling.
• Create receipts for incoming payments that did not auto-receipt, including manual checks, ACH, and wire activity across applicable bank accounts.
• Receipt payments using the same currency in which the funds were received by the bank, with careful attention to international payment activity and customer regions such as EUR, KOR, MEA, and other non-USD currencies.
• Support high-volume international cash applications, including payments received through Wells Fargo, Bank of America, HSBC, and other banking channels used for multinational customer activity.
• Obtain remittance documentation through available sources such as EDI files, personal email, the AR shared mailbox, lockbox reporting, and customer portals.
• Create on-account payments when remittance details are not available, so payments are not delayed or omitted from the receipting process.
• Apply payments according to remittance instructions, validating invoice selection, customer account, receipt amount, currency, and any required deduction coding.
• Review auto-applied payments to ensure the remittance and receipt details match; escalate mismatches or system issues to the AR technical team for correction or follow-up.
• Prioritize watch list customer payments first and communicate any concerns that may impact customer accounts, unapplied cash, or reconciliation activity.
• Create write-offs for approved deductions based on Sales, Customer Service, AR Representative approval, customer-specific thresholds, or established procedure.
• Open claim investigations for deductions requiring additional research, including shortages over the standard threshold, vendor compliance charges, pricing discrepancies, or other unsupported deductions.
• Collect and save deduction backup from email, lockbox reporting, customer portals, or other approved sources; store write-off and transaction documentation in the designated R drive location.
• Send confirmation emails to the appropriate internal partners when payment application, deduction handling, or claim activity requires follow-up communication.
• Add payments to the monthly transfer sheet when customer activity involves invoices for both BitCo and BHI and requires the receipt to be split between banks.
• Process customer credit memos for approved co-op, promotional, and marketing-related activities submitted by Sales, validating supporting documentation and ensuring accurate application to customer accounts.
• Update customer reference materials when new deduction types, contact changes, special handling instructions, or recurring customer-specific processes are identified.
• Maintain consistent communication with the Sr. AR Coordinator and manager regarding unusual deductions, missing expected payments, high-dollar activity, new transaction trends, or anything that appears inaccurate.
• Review the weekly unapplied report and work to ensure receipts are applied within the expected business day timeframe.
• Prioritize monthly bank reconciliation notifications, including missed receipts, duplicate receipts, incorrect receipt types, and other reconciliation-related corrections.
• When assigned daily work is complete, proactively notify the manager so additional work, special projects, or other AR support tasks can be provided.

Qualifications:

• 2+ years of Accounts Receivable experience.
• End-to-end cash application experience, including receipt creation, remittance review, payment application, deduction handling, and unapplied cash follow-up.
• Experience supporting multinational customers and processing payments across multiple currencies, including foreign currency cash application and payment reconciliation for regions such as the United States, Australia, Europe, Korea, and the Middle East.
• Experience using accounting or accounts receivable systems such as Oracle and Microsoft 365.
• Strong attention to detail with the ability to accurately process high-volume transactions, validate remittance information, and identify payment discrepancies.
• Self-motivated with the ability to manage workload independently, prioritize tasks effectively, and proactively communicate capacity for additional assignments.
• Strong written and verbal communication skills with the ability to escalate exceptions, confirm details, and collaborate with internal accounts receivable partners.
• Ability and willingness to work the required night-shift schedule.