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The differences between cash application specialists and collections/accounts receivables can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a cash application specialist, becoming a collections/accounts receivable takes usually requires 6-12 months. Additionally, a collections/accounts receivable has an average salary of $38,949, which is higher than the $37,558 average annual salary of a cash application specialist.
The top three skills for a cash application specialist include customer service, cash application and patients. The most important skills for a collections/accounts receivable are customer service, patients, and delinquent accounts.
| Cash Application Specialist | Collections/Accounts Receivable | |
| Yearly salary | $37,558 | $38,949 |
| Hourly rate | $18.06 | $18.73 |
| Growth rate | -5% | -8% |
| Number of jobs | 63,925 | 30,523 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 40% |
| Average age | 51 | 46 |
| Years of experience | 6 | 12 |
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.
An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.
Cash application specialists and collections/accounts receivables have different pay scales, as shown below.
| Cash Application Specialist | Collections/Accounts Receivable | |
| Average salary | $37,558 | $38,949 |
| Salary range | Between $29,000 And $48,000 | Between $30,000 And $49,000 |
| Highest paying City | Washington, DC | Boston, MA |
| Highest paying state | Delaware | Connecticut |
| Best paying company | Datamatics | Apollo Global Management |
| Best paying industry | Transportation | Finance |
There are a few differences between a cash application specialist and a collections/accounts receivable in terms of educational background:
| Cash Application Specialist | Collections/Accounts Receivable | |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 40% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between cash application specialists' and collections/accounts receivables' demographics:
| Cash Application Specialist | Collections/Accounts Receivable | |
| Average age | 51 | 46 |
| Gender ratio | Male, 19.3% Female, 80.7% | Male, 25.3% Female, 74.7% |
| Race ratio | 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% | Black or African American, 12.0% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 8% |