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The differences between account specialists and cash application specialists can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become an account specialist, becoming a cash application specialist takes usually requires 4-6 years. Additionally, an account specialist has an average salary of $42,586, which is higher than the $37,558 average annual salary of a cash application specialist.
The top three skills for an account specialist include customer service, patients and account management. The most important skills for a cash application specialist are customer service, cash application, and patients.
| Account Specialist | Cash Application Specialist | |
| Yearly salary | $42,586 | $37,558 |
| Hourly rate | $20.47 | $18.06 |
| Growth rate | -8% | -5% |
| Number of jobs | 116,010 | 63,925 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 44% |
| Average age | 46 | 51 |
| Years of experience | 12 | 6 |
An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.
Cash Application Specialists handle a variety of tasks related to company finances. They manage the organization of the company's financial records and oversee the overall cash inflow. They may also be assigned to handle payment collection, preparation of invoices, and receipts' issuance. They manage their relationship with their counterparts in client organizations to ensure a harmonious work relationship. This will help them follow up payments, communicate better, and resolve any concerns. Cash application specialists are also in charge of updating client records and ensuring that clients' payments are accurate. They also process refunds and facilitate other financial transactions.
Account specialists and cash application specialists have different pay scales, as shown below.
| Account Specialist | Cash Application Specialist | |
| Average salary | $42,586 | $37,558 |
| Salary range | Between $28,000 And $62,000 | Between $29,000 And $48,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Virginia | Delaware |
| Best paying company | Microsoft | Datamatics |
| Best paying industry | Finance | Transportation |
There are a few differences between an account specialist and a cash application specialist in terms of educational background:
| Account Specialist | Cash Application Specialist | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 44% |
| Most common major | Business | Accounting |
| Most common college | - | University of Pennsylvania |
Here are the differences between account specialists' and cash application specialists' demographics:
| Account Specialist | Cash Application Specialist | |
| Average age | 46 | 51 |
| Gender ratio | Male, 32.2% Female, 67.8% | Male, 19.3% Female, 80.7% |
| Race ratio | Black or African American, 13.2% Unknown, 4.1% Hispanic or Latino, 17.8% Asian, 3.7% White, 60.8% American Indian and Alaska Native, 0.5% | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.5% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 8% | 7% |