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.

• 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, over payments, 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

• 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, over payments, 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

• 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 categories
• Provide supporting documentation for internal and external audit requests
• Review processes and identify opportunities for workflow improvements and automation

• Maintain customer remittance instructions and payment setup information
• Coordinate with Treasury and banking partners regarding transmission issues and payment research
• Assist with system testing, implementation activities, and process enhancements
• Create and update work instructions, training materials, and process documentation
• Provide cross-training support and serve as a resource for team members on payment application procedures

• ERP and Accounts Receivable systems for receipt processing, payment application, adjustments, reconciliations, and reporting
• Bank portals, lockbox reporting systems, remittance files, and electronic payment platforms
• Shared inbox, workflow management, and ticketing tools
• Reporting and analytics tools used for cash application, unapplied cash, and reconciliation reporting
• Microsoft Office 365 (Excel, Outlook, Teams, One Note, and related applications)

• High School Diploma/GED required
• And four years of applicable experience required with 2 years Altec experience.
• OR
• Bachelor’s Degree and two years of related experience required
• Strong accounting knowledge including debits, credits, reconciliations,…