Cash Applications Specialist - Vaco, LLC
Memphis, TN 38120
About the Job
The Cash Applications Coordinator is responsible for processing customer payments via checks, wire transfers, and ACH/ EDI payments, as well as reviewing accounts for miscellaneous cash adjustments as needed. The coordinator will report to the Credit Manager and will be expected to work independently along with maintaining contact with ADM Credit to resolve issues. The coordinator is also responsible for establishing chargebacks to be processed by Deduction Team.
Responsibilities:
Review daily open cash report and apply payments to customer accounts.
Create chargebacks on accounts as required to properly reflect the customers’ remittance advice detail.
Review A/R history to research open and unresolved customer account issues.
Process daily adjustments to A/R to offset deductions and credits, write-off items to cash discounts or sales allowances and to offset other A/R items as requested.
Work with the Credit and the Deduction team regarding existing and new EFT accounts,
Make necessary adjustments to customer accounts for splitting or adjusting chargebacks as requested by the Deduction Team.
Correspond with ADM staff as needed to adjust customer accounts and surface cash issues.
Validate all payments received have been recorded in the correct accounting period for both US & Canada.
Transfer cash to appropriate lockboxes that has been received incorrectly at the Memphis location.
Research duplicate payments, obtain approval and submit any overpayment refund to Accounts Payable for processing.
Other projects as requested by management to support the A/R and Cash Application function.
Balance Cash Received in AR to Bank daily and resolve any differences with ADM Credit and Treasury.
Analyze and provide drivers to Accounting Manager for any discrepancies between Cash Applied and Cash Received for the Cash Clearing (account 12230) Reconciliation
Provide back-up as requested by Internal and External Audit.
Work directly with auditors to answer any questions they have on back-up provided or cash application process.
Work directly with ADM and IT to resolve any issues with file receipt and posting.
Perform chargeback reinstatements when needed.
Manage and resolve open cash report.
Provide explanations for all open amounts at month-end.
Qualifications:
High School Diploma-some college or business education or experience required.
Three to five years’ experience in Accounts Receivable, Credit or Cash Application required.
Equipment/Software Skills: Strong PC skills including the use of Microsoft Outlook, Word, and Excel. Familiarity with IBM mainframe software would be a plus.
Strong analytical skills, to effectively review complex situations and properly adjust customer accounts.
Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
EEO Notice
Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.
Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .
Vaco also wants all applicants to know their rights that workplace discrimination is illegal.
By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.
Privacy Notice
Vaco LLC and its parents, affiliates, and subsidiaries (“we,” “our,” or “Vaco”) respects your privacy and are committed to providing transparent notice of our policies.
- California residents may access Vaco’s HR Notice at Collection for California Applicants and Employees here.
- Virginia residents may access our state specific policies here.
- Residents of all other states may access our policies here.
- Canadian residents may access our policies in English here and in French here.
- Residents of countries governed by GDPR may access our policies here.
Pay Transparency Notice
Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:
- the individual’s skill sets, experience and training;
- licensure and certification requirements;
- office location and other geographic considerations;
- other business and organizational needs.
With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.