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The differences between cash application specialists and finance clerks can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a cash application specialist and a finance clerk. Additionally, a finance clerk has an average salary of $39,225, 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 finance clerk are data entry, purchase orders, and HR.
| Cash Application Specialist | Finance Clerk | |
| Yearly salary | $37,558 | $39,225 |
| Hourly rate | $18.06 | $18.86 |
| Growth rate | -5% | -5% |
| Number of jobs | 63,925 | 143,372 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 44% |
| Average age | 51 | 51 |
| Years of experience | 6 | 6 |
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.
Finance clerks are financial professionals who are responsible for performing various administrative tasks such as keeping financial records, preparing bills, and delivering excellent customer service. These clerks are required to process bills, checks, receipts, and other documents to ensure that they are all properly signed and distributed. They must verify financial and other data so that they can enter those data into the database and maintain updated records. Finance clerks must also assist with account reconciliations and should report the status of accounts and discrepancies to the management.
Cash application specialists and finance clerks have different pay scales, as shown below.
| Cash Application Specialist | Finance Clerk | |
| Average salary | $37,558 | $39,225 |
| Salary range | Between $29,000 And $48,000 | Between $27,000 And $56,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | Delaware | New York |
| Best paying company | Datamatics | United States Courts |
| Best paying industry | Transportation | Government |
There are a few differences between a cash application specialist and a finance clerk in terms of educational background:
| Cash Application Specialist | Finance Clerk | |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 44% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cash application specialists' and finance clerks' demographics:
| Cash Application Specialist | Finance Clerk | |
| Average age | 51 | 51 |
| Gender ratio | Male, 19.3% Female, 80.7% | Male, 26.2% Female, 73.8% |
| 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, 6.9% Unknown, 4.0% Hispanic or Latino, 14.7% Asian, 6.6% White, 67.2% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |