Cash Receipts Coordinator

Hinshaw & Culbertson•Chicago, IL

About The Position

Job Summary Process and apply daily cash transactions, electronic payments, and lockbox batches in a timely and accurate manner while following best practices and firm policy. Identify and address unusual transactions to prevent violations of best practices and firm policy. Research and respond to inquiries from clients, Hinshaw staff or attorneys, peers, clients, and management. Support and perform all Cash Applications functions, and other Accounting functions in the Department as needed. Coordinate with the Accounts Receivable team and act as a liaison between teams to process refunds to clients. Essential Job Functions Process and apply incoming client payments (checks, wires, ACH, credit card) accurately and timely to client accounts in accordance with firm policies. Review and reconcile daily bank deposits and ensure alignment with remittance information. Collaborate with the billing department to resolve unapplied or misapplied payments, short pays, and overpayments. Provide team support to accommodate high volume days and vacations.Collaborate with other groups in the Finance department, such as Trust, Office Administrators, Billing, Collections, and Attorneys to ensure seamless end-to-end processes. Collaborate with customers outside the Finance Department such as secretaries, paralegals, administrative staff, office administrators, attorneys, management, and clients to ensure outstanding customer service and resolution of problems. Serve as a liaison between cash applications, client accounting, and billing teams to ensure accurate and consistent financial records. Monitor and maintain the unapplied cash and unidentified receipts accounts, working to clear items in a timely manner. Perform all functions using cautious skepticism. Research and resolve payment discrepancies, coordinating with attorneys, billing staff, and clients as needed. Elevate complex issues as needed. Maintain accurate documentation of all cash receipts and adjustments for audit and compliance purposes. Participate in periodic meetings to ensure projects are being performed in a timely manner, discuss issues and their resolution as they arise, review best practices and firm policies, and plan for voluminous workload during busy seasons. Special projects as needed. Prepare and distribute daily, weekly, or monthly cash receipts reports for internal stakeholders. Assist with month-end and year-end close processes by ensuring all receipts are posted and reconciled properly. Processing negative disbursements and client refunds. Support ad hoc financial projects and provide backup to other members of the accounting team as required. This job description is intended to describe the general nature and level of the work being performed by employees in this job. It is not intended to be a complete list of all responsibilities, duties, and skills required for this job classification. As an EOE/AA employer, Hinshaw & Culbertson LLP will not discriminate in its employment practices due to an applicant's age, race, color, religion, sex, sexual orientation, gender identity, national origin, and veteran or disability status.

Requirements

Bachelor's Degree in Accounting or Finance preferred. Will consider applicants with equivalent experience and new graduates.
Strong understanding of accounts receivable processes and basic accounting principles.
Excellent attention to detail and ability to maintain accuracy while handling large volumes of transactions.
Strong communication and interpersonal skills to effectively collaborate with billing, accounting teams, and clients.
Ability to proactively plan and accomplish goals to perform a variety of Accounting activities.
Ability to recognize and tactfully address unusual transactions with customers, while insisting on compliance with best practices and firm policies, and elevating complex issues to management as needed.
Ability to quickly adapt to new processes, policies, and software.
Ability to organize and prioritize multiple competing priorities in a high pressure environment while completing assignments in a timely and professional manner.
Excellent interpersonal communication and writing skills with the ability to interact professionally with clients, vendors, and all levels within the firm.

Responsibilities

Process and apply incoming client payments (checks, wires, ACH, credit card) accurately and timely to client accounts in accordance with firm policies.
Review and reconcile daily bank deposits and ensure alignment with remittance information.
Collaborate with the billing department to resolve unapplied or misapplied payments, short pays, and overpayments.
Provide team support to accommodate high volume days and vacations.
Collaborate with other groups in the Finance department, such as Trust, Office Administrators, Billing, Collections, and Attorneys to ensure seamless end-to-end processes.
Collaborate with customers outside the Finance Department such as secretaries, paralegals, administrative staff, office administrators, attorneys, management, and clients to ensure outstanding customer service and resolution of problems.
Serve as a liaison between cash applications, client accounting, and billing teams to ensure accurate and consistent financial records.
Monitor and maintain the unapplied cash and unidentified receipts accounts, working to clear items in a timely manner.
Perform all functions using cautious skepticism.
Research and resolve payment discrepancies, coordinating with attorneys, billing staff, and clients as needed.
Elevate complex issues as needed.
Maintain accurate documentation of all cash receipts and adjustments for audit and compliance purposes.
Participate in periodic meetings to ensure projects are being performed in a timely manner, discuss issues and their resolution as they arise, review best practices and firm policies, and plan for voluminous workload during busy seasons.
Special projects as needed.
Prepare and distribute daily, weekly, or monthly cash receipts reports for internal stakeholders.
Assist with month-end and year-end close processes by ensuring all receipts are posted and reconciled properly.
Processing negative disbursements and client refunds.
Support ad hoc financial projects and provide backup to other members of the accounting team as required.