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The differences between senior accounts receivable 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 a senior accounts receivable specialist, becoming a cash application specialist takes usually requires 4-6 years. Additionally, a senior accounts receivable specialist has an average salary of $54,494, which is higher than the $37,558 average annual salary of a cash application specialist.
The top three skills for a senior accounts receivable specialist include account reconciliations, customer accounts and reconciliations. The most important skills for a cash application specialist are customer service, cash application, and patients.
Senior accounts receivable specialists follow established accounts receivable and account payable policies, guidelines, control processes, and procedures. The specialists make sure that activities associated with the payables and receivables are accurate. They assist the partners of firms in terms of collecting and reporting accounts receivable balances that are already past due. It is their job to establish extensive contact with clients and partners. Also, they are responsible for tracking payments and perform banking deposits.
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.
Senior accounts receivable specialists and cash application specialists have different pay scales, as shown below.
| Senior Accounts Receivable Specialist | Cash Application Specialist | |
| Average salary | $54,494 | $37,558 |
| Salary range | Between $38,000 And $78,000 | Between $29,000 And $48,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Connecticut | Delaware |
| Best paying company | Amkor Technology is a strategically located company with a diversified working environment. Employees mention free lunches, transportation, and lodging, and the management is good at recognizing key talents. | Datamatics |
| Best paying industry | Technology | Transportation |
There are a few differences between a senior accounts receivable specialist and a cash application specialist in terms of educational background:
| Senior Accounts Receivable Specialist | Cash Application Specialist | |
| Most common degree | Bachelor's Degree, 49% | Bachelor's Degree, 44% |
| Most common major | Business | Accounting |
| Most common college | - | University of Pennsylvania |
Here are the differences between senior accounts receivable specialists' and cash application specialists' demographics:
| Senior Accounts Receivable Specialist | Cash Application Specialist | |
| Average age | 46 | 51 |
| Gender ratio | Male, 18.3% Female, 81.7% | Male, 19.3% Female, 80.7% |
| Race ratio | Black or African American, 14.1% Unknown, 4.1% Hispanic or Latino, 19.0% Asian, 3.8% White, 58.5% 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% |