Collections & Cash Applications Specialist

Hinkley Lighting • Avon Lake, OH

415d

About The Position

The Collections & Cash Applications Specialist at Hinkley is responsible for managing customer accounts and processing payments to ensure accurate financial records. This role involves working with the Versapay lockbox and NetSuite to reconcile accounts, handle payment transactions, and engage with customers regarding past due balances, all while maintaining positive relationships.

Requirements

• At least 3-5 years of previous experience in Cash Application is required.
• At least 2+ years of previous experience in Accounts Receivable, Collection, or General Accounting is preferred.
• Associates degree in accounting, finance, business administration, or a related field preferred.
• Experience with accounting software (e.g., SAP, Oracle, QuickBooks, or other ERP systems) and proficiency in Microsoft Office, particularly Excel, is required.
• Experience with Versapay and NetSuite is a plus.
• Knowledge of AR processes, cash application, and credit/collections principles.
• Excellent problem-solving and analytical skills.
• Exceptional attention to detail, ensuring that all tasks are completed accurately and efficiently.
• Strong communication and interpersonal skills to handle customer and internal interactions professionally.
• Ability to work independently and manage multiple priorities in a fast-paced environment.
• Ability to foster positive relationships with customers.

Nice To Haves

• Experience with Versapay and NetSuite is a plus.

Responsibilities

• Validate cash receipts and credits to customer accounts daily using Versapay Lockbox.
• Ensure accurate allocation of payments, including checks, wire transfers, ACH payments, and credit card transactions.
• Process necessary adjustments, refunds, and credit card payments.
• Reconcile any discrepancies in customer remittance information.
• Proactively contact customers and provide efficient follow-up on outstanding balances.
• Negotiate payment schedules within department guidelines.
• Prepare and issue timely collection letters, including final demands as needed.
• Monitor and manage customer deductions, ensuring accurate account balances.
• Generate and share customer aging reports with manager.
• Reconcile accounts by investigating and resolving missing or misapplied payments when applicable.
• Review and release customer orders on credit hold, ensuring compliance with credit policies.
• Reconcile customer payment details with the company's general ledger and accounts receivable system to ensure accuracy.
• Investigate and resolve any discrepancies between the cash received and accounts receivable records, including researching duplicate payments when necessary.
• Prepare daily reports detailing cash applications activities.
• Monitor cash flow to ensure that payments are applied promptly and accurately to prevent delays in revenue recognition.
• Assist in identifying trends in payments and proactively addressing issues that may impact cash flow.
• Work closely with finance, customer service, sales teams, and order entry team to resolve any issues related to payment applications or collections.
• Provide support for the month-end and year-end closing processes by ensuring all cash applications are posted and reconciled.

Benefits

• Annual performance bonus
• Health insurance
• 401(k) with company match
• PTO
• Paid holidays
• Wellness programs

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Merchant Wholesalers, Durable Goods
• Education Level: Associate degree