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Mitsubishi HC Capital America, Inc. · 8 hours ago

Cash Applications Specialist

Edina, MN

Full-time

Onsite

Entry, Mid Level

$55K/yr - $65K/yr

2+ years exp

Mitsubishi HC Capital America, Inc. is seeking a Cash Applications Specialist responsible for applying cash to a portfolio of receivables. The role involves ensuring timely and accurate application of cash, alongside maintaining internal controls and resolving any cash application issues.

CommercialFinanceFinancial ServicesLending

Responsibilities

Applying cash to the Info-Lease, Lease accounting system

Use of Receivables Edge – Lockbox check image website

Electronic Transfer of Lockbox Transmission File

Access invoice information to reconcile figures remitted

ACH payment processing

Bank Deposits & check processing

Returned payment processing

Review Bank Statement(s) for payment processing

Investigating/correcting misapplied payments

Distributing reports

Resolve unidentified cash application issues on a timely basis

May involve working with Collection & Customer Service Departments to determine application of payment

Develop cross reference worksheets to ease identification of third-party schedules to Info-Lease contract numbers

Working with the Unapplied Suspense report to ensure payments are identified and applied in a timely basis

Overpayments/Participations – ensure overpayments/participations are applied to the correct open item/GL so that funds can be sent back to the appropriate recipient on a timely basis; within 30 days for overpayments; the next day for participations

Contract maintenance in Info-Lease (disposition, restructuring etc.)

Other projects including negative net investment research, process testing, and tasks assigned by supervisor