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Become A Cash Application Specialist

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Working As A Cash Application Specialist

  • Getting Information
  • Interacting With Computers
  • Processing Information
  • Documenting/Recording Information
  • Organizing, Planning, and Prioritizing Work
  • Mostly Sitting

  • Repetitive

  • $37,250

    Average Salary

What Does A Cash Application Specialist Do At Kelly Services

* Maintains Accounts Receivable records by entering new and updated customer and payment information.
* Prepares source data for computer entry by compiling and sorting information; establishing entry priorities.
* Processes customer and account source documents by reviewing data for deficiencies; resolving discrepancies by using standard procedures or returning incomplete documents to the team leader for resolution.
* Maintains data entry requirements by following data program techniques and procedures.
* Maintains operations by following policies and procedures; reporting needed changes.
* Contributes to team effort by accomplishing related results as needed

What Does A Cash Application Specialist Do At Bay Cove Human Services

* Bay Cove Human Services is currently seeking a Third Party Cash Application Specialist.
* The position will be responsible for the accurate and timely posting of the cash receipts to patient accounts for various payers.
* This position requires knowledge of the various Mass Health and Commercial insurance payers rules and regulations.
* The ideal candidate will be well versed in outpatient Mental Health and Substance Abuse billing as well as Inpatient Detox services.
* Familiarity with Hill Associates/Advantage Healthcare Solutions or similar software preferred

What Does A Cash Application Specialist Do At Randstad

* Ability to proficiently handle all aspects of the accounts receivable process which includes: reviewing and processing payments and various types of client account adjustments, processing audits and refunds.
* Ability to research and respond quickly and efficiently to client and office inquiries.
* Posting of cash receipts following established procedures.
* Process audit requests from clients.
* Perform duties of filing, scanning, pulling backup and keying payments to invoices.
* Investigate and resolve accounts receivable inquiries as well as monitor department email.
* Communicating with internal and external customers via phone, email, mail or personally.
* Once we know you are interested, a Randstad Professional recruiter will review your resume and contact you to better understand your skills and tell you more about the opportunity.
* We will meet qualified candidates face to face and out best talent interviews with the employer face to face - we will move quickly!
* Interviewing now! Click Apply to submit your resume today

What Does A Cash Application Specialist Do At Option Care

* Posts all payments and denials as they are received from lock box into the system, balances daily cash receipts against lock box total and gives to Reimbursement Manager for approval.
* Completes the Cash Rec on a daily basis and makes all entries into KIS.
* Runs all A/R reports necessary for month end reporting including reviewing the Cash Reconciliation and KIS entries.
* Runs reports as needed or requested for the Reimbursement Manager.
* Recognizes and reports any bad debt, billing or collection issues upon immediate discovery.
* Recognizes and reports any payer/insurance and or patient issues that could impact AR.
* Supervisory Responsibilities:
* None

What Does A Cash Application Specialist Do At Wageworks

* 1. On an ongoing basis and in a timely manner, accurately applies cash collections to the customer’s account using appropriate accounting and business management software.
* This entails cash received via lockbox, wire, or Automated Clearing House (ACH).
* Prepares activity and status reports and reconciles unapplied cash as appropriate.
* Reconciles bank statements to the General Ledger (GL) Cash Accounts daily and monthly.
* Researches any disputes and follows standard operating procedures to correct the issue and/or updates the system notes with the status of the activity.
* This may include utilizing the Company’s accounting and business management software systems to research account activity and post payments as appropriate.
* Works with Collections, Financial Operations, and Accounts Receivables teams in researching unapplied cash amounts so that unapplied cash can be kept to a minimum.
* Contacts customers via letters, emails, and phone calls to inquire about incomplete information related to payments.
* Follows up on outstanding issues as appropriate, updating the system notes with the status of the inquiry or activity.
* Utilizes current lockbox technology to print reports and view images related to cash applications.
* Provides support and written documentation as required to support cash application for SOX controls and audits.
* Acts as a resource to answer questions and provide guidance to less experienced co-workers performing cash application tasks

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How To Become A Cash Application Specialist

Most bookkeeping, accounting, and auditing clerks need some postsecondary education and also learn some of their skills on the job. They must have basic math and computer skills, including knowledge of spreadsheets and bookkeeping software.

Education

Employers generally require bookkeeping, accounting, and auditing clerks to have some postsecondary education, particularly coursework in accounting. However, some candidates can be hired with just a high school diploma.

Training

Bookkeeping, accounting, and auditing clerks usually get on-the-job training. Under the guidance of a supervisor or another experienced employee, new clerks learn how to do their tasks, including double-entry bookkeeping. In double-entry bookkeeping, each transaction is entered twice, once as a debit (cost) and once as a credit (income), to ensure that all accounts are balanced.

Some formal classroom training also may be necessary, such as training in specialized computer software. This on-the-job training typically takes around 6 months.

Licenses, Certifications, and Registrations

Some bookkeeping, accounting, and auditing clerks become certified. For those who do not have postsecondary education, certification is a particularly useful way to gain expertise in the field. The Certified Bookkeeper (CB) designation, awarded by the American Institute of Professional Bookkeepers, shows that those who have earned it have the skills and knowledge needed to carry out all bookkeeping tasks, including overseeing payroll and balancing accounts, according to accepted accounting procedures.

For certification, candidates must have at least 2 years of full-time bookkeeping experience or equivalent part-time work, pass a four-part exam, and adhere to a code of ethics.

The National Association of Certified Public Bookkeepers also offers certification. The Uniform Bookkeeper Certification Examination is an online test with 50 multiple-choice questions. Test takers must answer 75 percent of the questions correctly to pass the exam.

Advancement

With appropriate experience and education, some bookkeeping, accounting, and auditing clerks may become accountants or auditors.

Important Qualities

Computer skills. Bookkeeping, accounting, and auditing clerks need to be comfortable using computer spreadsheets and bookkeeping software.

Detail oriented. These clerks are responsible for producing accurate financial records. They must pay attention to detail in order to avoid making errors and recognize errors that others have made.

Integrity. Bookkeeping, accounting, and auditing clerks have control of an organization’s financial documentation, which they must use properly and keep confidential. It is vital that they keep records transparent and guard against misappropriating an organization’s funds.

Math skills. Bookkeeping, accounting, and auditing clerks deal with numbers daily and should be comfortable with basic arithmetic.

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Cash Application Specialist jobs

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Cash Application Specialist Career Paths

Cash Application Specialist
Collections Specialist Billing Specialist Specialist
Account Manager
5 Yearsyrs
Finance Analyst Accounting Manager
Accounting Director
11 Yearsyrs
Accountant Senior Accountant
Accounting Manager
7 Yearsyrs
Reimbursement Specialist Accounts Receivable Specialist Controller
Accounting Officer
7 Yearsyrs
Data Entry Specialist Billing Specialist Accounts Receivable Specialist
Accounts Receivable Manager
6 Yearsyrs
Human Resources Coordinator Benefit Specialist Billing Specialist
Business Office Manager
8 Yearsyrs
Reimbursement Specialist Case Manager Unit Manager
Collections Manager
5 Yearsyrs
Staff Accountant Accounting Manager Controller
Corporate Controller
12 Yearsyrs
Billing Manager Bookkeeper Accounts Receivable Clerk
Credit Manager
5 Yearsyrs
Analyst Senior Finance Analyst Controller
Finance Controller
9 Yearsyrs
Accountant Finance Analyst Senior Finance Analyst
Finance Manager
7 Yearsyrs
Accounts Receivable Analyst Accountant Finance Manager
General Manager
7 Yearsyrs
Staff Accountant Finance Analyst Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Accounts Receivable Analyst Accounts Receivable Supervisor Accounts Receivable Manager
Office Manager
5 Yearsyrs
Collections Specialist Accounts Receivable Specialist Finance Analyst
Operations Manager
7 Yearsyrs
Human Resources Coordinator Payroll Specialist
Payroll Manager
7 Yearsyrs
Billing Manager Human Resources Coordinator Payroll Specialist
Payroll/Human Resource Manager
7 Yearsyrs
Finance Analyst Senior Finance Analyst Accounting Manager
Plant Controller
10 Yearsyrs
Data Entry Specialist Office Manager Practice Manager
Practice Administrator
10 Yearsyrs
Analyst Program Manager General Manager
Property Manager
6 Yearsyrs
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Cash Application Specialist Demographics

Gender

  • Female

    80.2%
  • Male

    17.9%
  • Unknown

    1.9%

Ethnicity

  • White

    79.8%
  • Hispanic or Latino

    10.7%
  • Asian

    7.3%
  • Unknown

    1.7%
  • Black or African American

    0.4%
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Languages Spoken

  • Spanish

    53.1%
  • French

    6.3%
  • Russian

    6.3%
  • Arabic

    4.7%
  • Vietnamese

    3.1%
  • Italian

    3.1%
  • German

    3.1%
  • Ruthenian

    1.6%
  • Mandarin

    1.6%
  • Indonesian

    1.6%
  • Hungarian

    1.6%
  • Wolof

    1.6%
  • Cantonese

    1.6%
  • Tamil

    1.6%
  • Bulgarian

    1.6%
  • Carrier

    1.6%
  • Tagalog

    1.6%
  • Malayalam

    1.6%
  • Portuguese

    1.6%
  • Chinese

    1.6%
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Cash Application Specialist

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Cash Application Specialist Education

Cash Application Specialist

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Top Skills for A Cash Application Specialist

LockboxPaymentsAch/WireCustomerAccountsFinancialReportsPatientAccountsAccountsReceivablesGeneralLedgerAccountsCustomerServiceEOBInsuranceCompaniesBankDepositsDataEntryEFTInsurancePaymentsCustomerPaymentsAuditJournalEntriesMedicareMedicaidSpecialProjects

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Top Cash Application Specialist Skills

  1. Lockbox Payments
  2. Ach/Wire
  3. Customer Accounts
You can check out examples of real life uses of top skills on resumes here:
  • Posted daily electronic and lockbox payments into the computer.
  • Performed cash deposits, bank deposits, ACH/Wire deposits and credit card payments.
  • Resolve disputes and issues on customer accounts.
  • Generated financial reports for distribution.
  • Review remittances for payment application Apply commercial insurance payments to patient accounts Calculate and apply contractual adjustments

Top Cash Application Specialist Employers

Cash Application Specialist Videos

Introduction to Order to Cash Process

Credit Analysis Manager, Career Video from drkit.org

RBI-Reserve bank of India Recruitment Notification 2016. IBPS, PO, Clerk, Exam dates

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