Research unapplied cash values in order to determine whether funds can be applied against a bona fide A/R invoice, or whether funds should be earmarked for refund to customer.

Responsibilities:

Work under guidance of Assistant Accountant on specific books of unapplied cash.  Conduct input / research work against specific unapplied cash values, using NetSuite accounting system and establish if the cash value is listed on the universal daily deposit spreadsheet.   Determine form of unapplied payment, i.e. Check / ACH / Credit Card / Credit Memo. Establish if a specific invoice connected thereto is “open”.   Process and reconcile payments  by accurately locating, and correctly tagging payment remit, and validating invoice information Identify from the remit whether the unapplied payment is a duplicate payment, a regular overpayment, an overpayment, an issued Credit Memo, JE / AR transfer, awaiting missing remittance, information not posted in NetSuite, a sales tax issue, an incorrect vendor. Ultimately determine if the client submitting the remittance needs to be contacted for more information.   Understand and resolve unapplied payment through audit, research and backtracking.  Note corresponding solutions to rectify the cash postings and action accordingly.   Record findings in Excel tracker.