Cash Application Specialist

Job Description

Administrator I – Cash Applications | Westlake

The Tone:
This is a full-time, on-site role at Westlake, a company that works together to enhance people’s lives through its products and presence in the communities in which it operates. This position plays a foundational role in the finance department by ensuring accurate and timely recording of customer payments to maintain comprehensive accounts receivable records. The Administrator I – Cash Applications is essential for supporting Westlake’s financial operations, contributing to effective cash flow management and accurate financial reporting.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: On-site

• Mission: Record customer payments and maintain accurate accounts receivable records to ensure timely cash applications and support financial operations.
• Tech Stack: SAP S/4HANA, JDE

What You’ll Actually Do
• Daily Processing: Prepare and distribute daily cash reports, including lockbox, ACH, and wire activity, to support timely cash applications. Process and apply various customer payments in SAP S/4HANA and JDE against open items.
• Payment Matching & Resolution: Identify and match incoming payments to customer accounts by researching invoice numbers and remittance details, and investigate unapplied or misapplied cash, short pays, and overpayments.
• Discrepancy Investigation: Research and process customer claims for invoice payments, investigate charge backs, returns, bad checks, bank debits, and returned payments such as insufficient fund (NSF) or stopped payments.
• Cross-functional Collaboration: Assist Customer Service and Credit teams in clearing customer accounts and resolving payment discrepancies, while also communicating with customers to obtain remittance details or clarify issues.
• Compliance & Reporting: Support month-end close activities related to cash application, including clearing and reconciliation of accounts, and maintain compliance with AR policies, internal controls, and audit requirements.

The Must-Haves
• Background: High school diploma or equivalent is required, with an Associate’s degree preferred, focused on accounting or finance principles.
• Experience: A minimum of 1-2 years of Accounts Receivable experience, specifically in high-volume environments where daily performance is measured.
• Skills: Ensure accuracy and efficiency in all cash application processes with a focus on continuous improvement; communicate effectively with internal teams and external customers to resolve payment discrepancies and inquiries; prioritize workloads effectively to maintain an organized workspace and meet daily performance expectations; demonstrate initiative to acquire a sufficient working knowledge of department procedures and software applications; take ownership of team objectives and advocate for a positive, team-focused environment.
• Bonus: Experience with SAP or JDE systems.