Cash Application Temporary Opportunity (Estimated 6 Month Project)

Job Description
The Cash Applications Coordinator is responsible for processing customer payments via checks, wire transfers, and ACH/ EDI payments, as well as reviewing accounts for miscellaneous cash adjustments as needed. The coordinator will report to the Credit Manager and will be expected to work independently along with maintaining contact with ADM Credit to resolve issues. The coordinator is also responsible for establishing chargebacks to be processed by Deduction Team in the Blacksmith dispute management system.
1.Review daily open cash report and apply payments to customer accounts. Create chargebacks on accounts as required to properly reflect the customers’ remittance advice detail.
2.Review A/R history to research open and unresolved customer account issues.
3.Process daily adjustments to A/R to offset deductions and credits, write-off items to cash discounts or sales allowances and to offset other A/R items as requested.
4.Work with the Credit and the Deduction team regarding existing and new EFT accounts,
5.Make necessary adjustments to customer accounts for splitting or adjusting chargebacks as requested by the Deduction Team.
6.Correspond with ADM staff as needed to adjust customer accounts and surface cash issues. Validate all payments received have been recorded in the correct accounting period for both US &
Canada.
7.Transfer cash to appropriate lockboxes that has been received incorrectly at the Memphis location.
8.Research duplicate payments, obtain approval and submit any overpayment refund to Accounts Payable for processing.
9.Other projects as requested by management to support the A/R and Cash Application function.
10.Balance Cash Received in AR to Bank daily and resolve any differences with ADM Credit and Treasury.
11.Analyze and provide drivers to Accounting Manager for any discrepancies between Cash Applied and Cash Received for the Cash Clearing (account 12230) Reconciliation
12.Provide back-up as requested by Internal and External Audit. Work directly with auditors to answer any questions they have on back-up provided or cash application process.
13.Work directly with ADM and Stratas IT to resolve any issues with file receipt and posting.
14.Perform chargeback reinstatements when needed.
15.Manage and resolve open cash report. Provide explanations for all open amounts at month-end.
16.Train Cash Application back-up.
17. This is a temporary position for an estimated 6 month project.