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The differences between invoicing specialists and cash application specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an invoicing specialist and a cash application specialist. Additionally, a cash application specialist has an average salary of $37,558, which is higher than the $37,166 average annual salary of an invoicing specialist.
The top three skills for an invoicing specialist include data entry, purchase orders and customer service. The most important skills for a cash application specialist are customer service, cash application, and patients.
| Invoicing Specialist | Cash Application Specialist | |
| Yearly salary | $37,166 | $37,558 |
| Hourly rate | $17.87 | $18.06 |
| Growth rate | -5% | -5% |
| Number of jobs | 47,437 | 63,925 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 44% |
| Average age | 51 | 51 |
| Years of experience | 6 | 6 |
An invoicing specialist is primarily in charge of preparing and processing client bills. It is their responsibility to manage databases and payment systems, verify client information, list down the due amount and itemized account of goods and services, charge accurate tax, deduct discounts, and ensure copies of every invoice. They also arrange new client accounts, prepare receipts, keep an eye out for any errors or discrepancies, and assist clients by answering inquiries. Moreover, aside from processing invoices, they also perform various clerical support tasks such as handling calls and correspondence and organizing files.
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.
Invoicing specialists and cash application specialists have different pay scales, as shown below.
| Invoicing Specialist | Cash Application Specialist | |
| Average salary | $37,166 | $37,558 |
| Salary range | Between $29,000 And $46,000 | Between $29,000 And $48,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Alaska | Delaware |
| Best paying company | Baxter International | Datamatics |
| Best paying industry | Technology | Transportation |
There are a few differences between an invoicing specialist and a cash application specialist in terms of educational background:
| Invoicing Specialist | Cash Application Specialist | |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 44% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between invoicing specialists' and cash application specialists' demographics:
| Invoicing Specialist | Cash Application Specialist | |
| Average age | 51 | 51 |
| Gender ratio | Male, 22.5% Female, 77.5% | Male, 19.3% Female, 80.7% |
| Race ratio | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.6% White, 67.6% American Indian and Alaska Native, 0.6% | 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 | 7% | 7% |