Details
Description
New opportunity for an experienced Bilingual Cash Application Specialist with our client, a leading organization within the Pharmaceutical sector. This position is open due to growth. This is a hybrid role (Location Mississauga) - 2/3 days work from home. Hours: Monday - Friday 8:30 am - 4.30 pm. Salary: 50K - 55K base (Total compensation, incl. bonus, up to 60K) and full health benefits starting day 1, RRSP Matching Program and DPSP (Deferred Profit Sharing Plan). Bonus: 6% to 8%, paid annually. Vacation: 3 weeks Great opportunity in a collaborative & professional environment with internal growth possibilities!
Responsibilities
The Cash Application Specialist will be responsible for the accurate and timely application, reconciliation, and management of incoming payments within the Accounts Receivable function. This role supports the Financial Services Manager by ensuring customer payments are applied accurately and on time, maintaining financial data integrity, resolving payment discrepancies, and contributing to an efficient end-to-end Order-to-Cash process.
Key Objectives
- Apply incoming payments, including EFT, cheque, and credit card payments, to customer accounts accurately and within defined time lines.
- Review remittance details and match payments to open invoices with a high degree of accuracy.
- Manage high-volume transaction processing while meeting daily service levels.
- Reconcile bank deposits to the Accounts Receivable sub-ledger and general ledger, ensuring completeness and accuracy.
- Investigate and resolve un-applied, misapplied, or unidentified cash in a timely manner.
- Prepare journal entries and maintain clear, audit-ready documentation.
- Escalate unresolved reconciliation issues or payment exceptions to the Financial Services Manager, as appropriate.
- Identify and resolve payment discrepancies, including short payments, over-payments, and duplicate payments.
- Collaborate with Billing, Collections, and Customer Service to support integrated Order-to-Cash
- Communicate with customers, as required, to clarify remittance details and resolve payment application issues, escalating complex situations when necessary.
- Support month-end close activities, including reconciliations and reporting requirements.
- Follow established accounting standards, internal controls, audit requirements, and departmental procedures.
- Maintain accurate and complete Accounts Receivable records.
- Utilize ERP systems for cash application, reconciliation, and tracking activities.
- Identify opportunities to improve automation and streamline processes, providing recommendations to support continuous improvement initiatives.
- Support standardization and continuous improvement initiatives to enhance Accounts Receivable efficiency and performance.
Qualifications
Qualifications
- Post-secondary education in Accounting, Finance, Business Administration, or a related field is preferred.
- 2-3+ years of practical experience in cash application, Accounts Receivable, payment processing, reconciliation, accounting support, or Order-to-Cash processes.
- Strong bilingual English and French communication skills, both verbal and written. French communication skills are considered essential for this role.
- Experience applying incoming payments, reviewing remittance details, matching payments to invoices, and managing high-volume transactions.
- Strong understanding of bank reconciliations, AR sub-ledger/general ledger reconciliation, journal entries, and month-end close support.
Experience investigating and resolving un-applied cash, misapplied cash, unidentified payments, short payments, over-payments, and duplicate payments. - Strong proficiency with ERP systems and financial/accounting applications.
- Excellent attention to detail, accuracy, documentation, and follow-up skills.
- Strong analytical, problem-solving, and organizational skills with the ability to manage multiple priorities and meet deadlines.
- Excellent communication and customer service skills, with the ability to work professionally with customers and internal stakeholders.
- Experience in health-care, hospital, pharmaceutical, distribution, or supply chain environments would be considered an asset.