Cash Application Specialist

Summary

The Cash Application Specialist is responsible for the accurate and timely application of customer payments, research of payment discrepancies, reconciliation of cash activity, and maintenance of complete supporting documentation. This position works closely with Accounts Receivable, Billing, Treasury, Project Accounting, and the General Ledger team to ensure cash receipts are recorded correctly, and customer accounts remain accurate.

Essential Duties and Responsibilities (Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)

Cash Application and Processing

•    Review daily bank activity and apply customer payments accurately and timely.

•    Process payments received through ACH, wire transfer, check, credit card, and other approved payment methods.

•    Apply cash receipts to the correct customer accounts, invoices, projects, and legal entities in Costpoint ERP.

•    Complete daily cash application by the established deadline, generally by noon on the business day following receipt of bank activity.

•    Verify payment amounts against remittance information and customer account balances before posting.

•    Identify and prevent duplicate, reversed, voided, or incorrectly applied transactions.

•    Record unapplied or unidentified cash in the appropriate account until sufficient support is obtained.

•    Process approved refunds, payment transfers, write-offs, and other cash application adjustments.

Research and Issue Resolution

•    Research short payments, overpayments, duplicate payments, deductions, and payments received without remittance details.

•    Contact customers or coordinate with internal teams to obtain missing remittance information.

•    Investigate payment discrepancies and resolve them promptly and accurately.

•    Monitor unapplied cash, customer credits, and unidentified receipts to ensure items are cleared in a timely manner.

•    Proactively identify trends or process issues that may delay cash application or affect customer account accuracy.

Reconciliation and Reporting

•    Reconcile daily cash receipts to bank activity, payment reports, and Costpoint postings.

•    Ensure cash application totals agree with bank deposits and control totals, with all variances documented and resolved.

•    Reconcile Accounts Receivable cash activity to the general ledger.

•    Prepare and maintain supporting schedules for unapplied cash, customer credits, and cash-related reconciling items.

•    Assist with month-end, quarter-end, and year-end close activities.

Controls and Compliance

•    Follow established cash application procedures, approval requirements, and segregation-of-duties controls.

•    Maintain complete, organized, and audit-ready supporting documentation for cash receipts, adjustments, transfers, refunds, and write-offs.

•    Comply with Willdan accounting policies, SOX controls, and document-retention requirements.

•    Support internal audits, external audits, and control-testing requests.

•    Assist in documenting and updating cash application procedures, desktop instructions, and process flowcharts.

•    Maintain current procedures and documentation for critical cash application responsibilities and support effective backup coverage.

Communication and Collaboration

•    Communicate professionally and in a timely manner with customers and internal stakeholders.

•    Partner with Project Accounting, Treasury, and General Ledger teams to resolve payment issues.

•    Provide clear explanations and supporting documentation for cash application adjustments and discrepancies.

•    Maintain a customer-service mindset when responding to account and payment inquiries.

Process Improvement

•    Participate in process-improvement and automation initiatives related to cash application and reconciliation.

•    Identify opportunities to improve cash application processes, strengthen internal controls, and increase efficiency and accuracy.

•    Additional duties and responsibilities may be assigned by supervisor as business needs dictate. 

Job Requirements / Qualifications:

•    High school diploma required; Associate’s or Bachelor’s degree in Accounting, Finance, Business, or a related field preferred.

•    One or more years of experience in cash application, accounts receivable, accounting, or a related function preferred.

•    Experience working in a multi-entity or project-based organization preferred.

•    Ability to manage a high volume of transactions, prioritize multiple tasks, and meet established daily deadlines while maintaining a high degree of accuracy.

•    Demonstrated analytical, research, and problem-solving skills, with a proactive approach to identifying, researching, and resolving issues.

•    Strong attention to detail, organizational, and documentation skills, with a commitment to maintaining accurate and audit-ready records.

•    Demonstrated ability to communicate clearly and professionally, both verbally and in writing, and collaborate effectively across departments.

•    Ability to work independently while contributing effectively in a fast-paced, evolving, and collaborative work environment.

•    Proficient in Microsoft Office Suite, particularly Microsoft Excel, including lookups, pivot tables, filters, and reconciliations.

•    Broad knowledge of basic accounting principles, customer accounts, cash receipts, general ledger activity, and account reconciliations.

•    Demonstrated commitment to continuous process improvement and maintaining strong internal controls.

EEO Non-Discrimination and ADA Reasonable Accommodation Statement:

Applicants are considered for all positions without regard to race, religious creed, color, age marital status, sex, sexual orientation, gender identity, gender expression, citizenship status, national origin, ancestry, religion, military service or veteran status, disability, medical condition, childbirth and related medical conditions, genetic testing, reproductive status or any other classification protected by federal, state or local laws and ordinances. Willdan does not discriminate on the basis of physical or mental disability where the essential functions of the job can be reasonably accommodated. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. If you need reasonable accommodation for any part of the application and hiring process, please notify us.

Willdan participates in E-Verify.