AR Cash Application Specialist

Job Description

Job Description

Job Summary :

The AR Cash Application Specialist will be responsible for processing and applying incoming payments, reconciling accounts, and resolving discrepancies to ensure accurate financial reporting. This role requires strong attention to detail, familiarity with accounting systems, and the ability to handle a high volume of cash transactions efficiently. The specialist will collaborate closely with internal departments and external customers to ensure payments are properly applied and outstanding issues are promptly resolved.

Key Responsibilities :

• Process incoming payments via various channels such as cheque, bank transfer / wire, ACH, credit card, electronic funds transfer, and lockbox.
• Apply payments to appropriate customer invoices, credit memos, or accounts in the ERP / accounting system.
• Manage high-volume cash transactions with accuracy and speed.
• Monitor automated cash application routines and resolve unmatched or exception transactions.
• Reconcile daily deposits and cash batches to bank statements and the general ledger.
• Reconcile credit cards, refunds, direct debits, and other special accounts; manage petty cash when applicable.
• Investigate and resolve unreconciled or unapplied cash items in a timely manner.
• Complete all month-end and year-end reconciliations accurately and on schedule.
• Identify and address short payments, overpayments, and misapplied payments; coordinate adjustments or credit notes as needed.
• Collaborate with internal teams such as Billing, Sales, and Customer Service to resolve remittance or invoice discrepancies.
• Maintain logs of unapplied / unidentified cash and work proactively to minimize outstanding balances.

Required Skills :

Preferred Skills :

Education :

Bachelor’s degree in Accounting, Finance, or related field preferred; equivalent experience accepted.

Company Description

We are in business to help healthcare providers do what they do best. Running a successful practice, hospital, care centre, or clinic is not just about practicing medicine. It is also crucial to manage the business side of the overall operations. Efficiency is a top priority for today's healthcare organization.

LMG Healthcare offers a full suite of services that support healthcare organizations of all shapes and sizes meet their operational and clinical objectives. We have worked with and have helped some of the most prominent organizations in the healthcare industry.

Company Description

We are in business to help healthcare providers do what they do best. Running a successful practice, hospital, care centre, or clinic is not just about practicing medicine. It is also crucial to manage the business side of the overall operations. Efficiency is a top priority for today's healthcare organization.\r\n \r\nLMG Healthcare offers a full suite of services that support healthcare organizations of all shapes and sizes meet their operational and clinical objectives. We have worked with and have helped some of the most prominent organizations in the healthcare industry.