CASH APPLICATION SPECIALIST
Business Area: Order to Cash
Job Purpose/Mission/Summary
A Cash Application Specialist is responsible for performing accounting activities to enable the company to generate a sound and accurate financial statement monthly, quarterly and annually. Duties include reviewing transactions, posting adjusting entries, collecting and evaluating data, conducting analysis, and preparing reconciliations and recommendations.
Key Roles and Responsibilities:
-
CASH APPLICATION
- Ensures customer remittances are posted accurately and timely in order to update customer accounts receivable balances and increase customer credit limit.
- Generate daily bank statement.
- Identify, reconcile and post customer remittance.
- Create chargeback on customer accounts for payments made beyond the discounting period and enforce collection to Collection team.
- Reconcile SAP data against accredited credit card/payment processing company. Identify payment residual and post credit card transaction.
-
FACTORING
- Reconciles factoring remittance against documents purchased by Factoring Company.
- Identify discrepancy and exclude document when clearing normal accounts receivable.
- Review and post customer receipts for factored documents.
- Reconciles cleared factored amount against payable account.
- Send payable reconciliation file weekly to Collection team for review and payment processing.
-
DIRECT DEBIT
- Ensures accurate customer master set-up and on time collection of invoices.
- Review customer signed mandate and request set-up in SAP. Communicate to Collection team for any exceptions noted.
- Reconcile proposal list and ensure that all invoices are collected on time. Request adjustment of value date if falls on a banking holiday.
-
SYSTEMS / PROJECTS / PROCESS DESIGN
- Engage actively in the new projects and support the establishing and implementing process optimization actions for the respective area.
- Identify inefficiencies to establish consistent process models for the legal entities in scope, while ensuring compliance with internal and external laws, rules and regulations.
-
CLOSING OF ACCOUNTING BOOKS
- Completes monthly, quarterly and yearly close activities to ensure integrity of financial statements.
- Ensures all period transactions are booked and posted. Reviews balance sheet accounts for proper classification.
-
ACCOUNTING POLICY COMPLIANCE
- Ensures that all ledger’s transactions and reconciliations are in compliance to Corporate Accounting Instruction, Cash Application Global Procedure & Policy, and Corporate Financial Policies.
- Ensures that process documentations are revelated per revaluation schedule or annually.
-
FINANCIAL MANAGEMENT REPORTING
- Reviews AR aging and escalates aged items needing resolution to the Regional Coordinators/Controllers and OTC Management.
- Provides fluctuation analysis for Consolidations and Stakeholders reporting.
- Assists in providing schedules for Statutory and audit requirements.
- Prepares and presents measurements result to stakeholders through monthly update of Cash Application Metrics.
Competencies, Skills, Knowledge & Abilities:
- Strong Analytical and Communication Skills.
- Proficient in Microsoft Office Applications.
- Knowledge in SAP (System Application and Products).
- Attentive to detail and accuracy.
- Can work under pressure and minimal supervision.
- Wide knowledge in Accounting.
- Ability to work with people across different organizations.
Education, Experience & Certifications Basic Requirements:
- College Degree in BS Accountancy (or Management Accounting), CPA is an advantage.
- 2 years related or Accounting experience
- Knowledge on billings, and credit and s, preferred but not required
- Excellent oral and written English communication skills
- Strong people and interpersonal skills
You may send your application to recruitment@lexmark.com.