Website:
advaittechserve.com
Job details:
Job Title: Cash Applications Specialist
Position Summary
We are seeking a detail-oriented Cash Applications Specialist to join our offshore Accounts Receivable team based in India. This role is responsible for the accurate and timely posting of customer payments, reconciliation of cash receipts, and resolution of unapplied or misapplied cash across a high-volume, multi-entity environment. The ideal candidate brings strong foundational knowledge of cash application processes within a global finance team, demonstrates exceptional written and verbal English communication skills for daily collaboration with U.S.-based counterparts, and ideally brings hands-on experience with Oracle Fusion. This is a critical role within the Order-to-Cash cycle, requiring precision, accountability, and the ability to work effectively across time zones.
Key Responsibilities:
Cash Application & Payment Posting
- Apply customer payments accurately and promptly, including ACH, wire transfers, checks, and credit card transactions, across multiple entities and bank accounts.
- Match payments to open invoices using remittance advice, purchase order references, and customer account history.
- Identify and resolve unapplied, misapplied, and short payments in a timely manner, escalating complex discrepancies to the A/R Supervisor.
- Process daily cash receipts and ensure all postings are completed within SLA timelines agreed upon with the U.S. finance team.
- Maintain cash application queues and ensure zero backlog on payment posting.
Remittance Management
- Retrieve and process remittance detail from customer portals, email submissions, and bank lockbox feeds.
- Research and obtain missing remittance information directly from customers or from the U.S. collections team.
- Accurately document all remittance activity and maintain organized records for audit and reconciliation purposes.
Unapplied Cash & Account Reconciliation
- Conduct regular reviews of unapplied cash and on-account balances; investigate and clear items within defined aging thresholds.
- Reconcile daily cash receipts to bank statements and general ledger postings, flagging discrepancies for immediate resolution.
- Partner with the U.S. A/R team to clear open items, apply credit memos, and ensure customer accounts reflect accurate balances.
- Support month-end close activities including cash reconciliation reporting and unapplied cash clean-up.
Customer & Internal Communication
- Communicate professionally and clearly with U.S.-based A/R, collections, and finance colleagues via email, chat, and scheduled calls — strong written and verbal English is essential in this role.
- Respond to remittance and payment application inquiries from internal stakeholders and customers with accuracy and professionalism.
- Coordinate directly with the collections team on payment disputes tied to cash application errors or mispostings.
- Prepare clear, concise daily/weekly status updates on cash posting volumes, unapplied balances, and open items for the A/R Supervisor.
Oracle Fusion & Systems
- Utilize Oracle Fusion Accounts Receivable module (or comparable ERP) for payment posting, account maintenance, and cash reconciliation.
- Navigate customer portals, bank platforms, and lockbox systems to retrieve and process remittance data efficiently.
- Leverage reporting tools within Oracle Fusion to generate aging summaries, unapplied cash reports, and reconciliation support.
- Flag system errors, posting failures, or workflow issues to the appropriate IT or systems support contact promptly.
Process & Compliance
- Follow established cash application procedures, internal controls, and audit requirements consistently.
- Assist in identifying process inefficiencies and recommend improvements to reduce posting errors and accelerate cash application cycles.
- Support SOX compliance activities and internal audit requests related to cash receipts and payment posting.
- Participate in cross-training to ensure continuity of operations across the offshore team.
Qualification:
Education
- Bachelor's degree in Finance, Accounting, Commerce, or a related field required.
Experience
- 2–4+ years of experience in Cash Applications, Accounts Receivable, or a related finance operations role.
- Experience working in a shared services or offshore finance environment supporting a U.S. or global organization strongly preferred.
- Background in high-volume payment processing environments with multi-entity or multi-currency exposure a plus.
Required Skills
- Strong written and verbal English communication skills — this is a non-negotiable requirement for daily collaboration with the U.S.-based finance team.
- Proven experience with payment posting, remittance matching, and unapplied cash resolution.
- Solid understanding of Accounts Receivable and Order-to-Cash fundamentals.
- High attention to detail and accuracy in a high-volume, time-sensitive processing environment.
- Proficiency in Microsoft Excel for reconciliation, reporting, and data management tasks.
- Ability to manage workload independently, meet SLA deadlines, and escalate appropriately.
- Comfortable working across time zones with a U.S.-based team, including overlap hours as required.
Preferred / Good to Have
- Hands-on experience with Oracle Fusion Accounts Receivable — including payment workbench, receipt application, and AR reporting.
- Familiarity with Oracle Fusion lockbox processing and automated cash matching rules.
- Experience with customer payment portals (e.g., Ariba, Coupa, or similar procurement/payment platforms).
- Exposure to SOX-compliant finance environments and internal audit support.
- Experience with bank reconciliation and GL cash account clearing.
Key Competencies:
Payment Accuracy & Speed • Remittance Research • English Communication (Written & Verbal) • Oracle Fusion Proficiency • Attention to Detail • Cross-Time Zone Collaboration • Accountability • Process Discipline
Regards,
HR Team
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