Accounting Specialist - Cash Application

Why Join Altec?

Altec is hiring a Cash Application Specialist in Birmingham, AL (Corporate Office).

This position is responsible for the timely and accurate application of customer payments, advanced payment research and reconciliation, resolution of unapplied cash and payment discrepancies, support for month-end close activities, and the maintenance of strong internal controls and documentation across cash application processes.

This role serves as a subject matter resource for payment application workflows and regularly partners with Accounting, Treasury, Collections, Credit, Customer Service, and Sales to resolve complex payment issues.

Training and Development


* Advanced cash application processes including lockbox, ACH, wires, checks, virtual cards, and electronic remittance formats


* ERP receipts, payment applications, adjustments, reversals, and customer account research


* Remittance interpretation (EDI, ERA, customer backups, bank files) and exception handling procedures


* Research and resolution of unapplied cash, unidentified payments, deductions, chargebacks, overpayments, and short-payments


* Bank reconciliation support, account balancing, and month-end close processes


* Internal controls, audit requirements, documentation standards, and records retention practices


* Cross-functional order-to-cash processes and customer account management fundamentals

Responsibilities

Daily


* Retrieve, review, and process bank, lockbox, ACH, wire, and check payment activity


* Apply customer payments accurately and timely to open invoices across multiple entities


* Perform detailed research on unapplied cash, unidentified payments, deductions, chargebacks, and payment discrepancies


* Resolve payment exceptions including missing remittance, duplicate payments, short-pays, overpayments, and customer account variances


* Maintain clear documentation of research, payment application decisions, and account activity


* Monitor shared inboxes, workflow queues, and assigned tickets to ensure timely resolution


* Partner with Collections, Credit, Customer Service, Accounting, and Sales to resolve payment-related issues


* Weekly


* Reconcile cash received to cash applied and investigate variances


* Research and resolve aging unapplied cash balances


* Review rejected transactions, payment reversals, returns, and bank exceptions


* Analyze unidentified payments and coordinate research efforts with internal departments and banking partners


* Review account balances and payment activity for accuracy and completeness


* Support workflow coverage during peak volume periods and team absences

Monthly


* Support month-end close activities by ensuring payment posting and applications are complete and current


* Assist with account reconciliations and preparation of cash application-related reporting


* Analyze unapplied cash trends and recurring exception...