Cash Applications Specialist

The Allegro team is passionate about providing intelligent solutions that move the world toward a safer and more sustainable future. With more than 30 years of experience developing advanced semiconductor technology, innovation with purpose touches every aspect of our business. From customer engagement and employee recognition to technology advancement and serving the local communities in which we maintain offices, innovation consistently drives our mission and definition of success. 

Summary: The Cash Application Specialist is responsible for the accurate and timely application of customer payments to open invoices. This role requires strong attention to detail, excellent analytical skills, and the ability to work independently and as part of a team.

Essential Duties and Responsibilities:

• Process a high volume of customer payments received via various methods (ACH, wire transfer, lockbox, etc.)
• Accurately apply payments to open invoices, ensuring proper allocation of funds and discounts.
• Research and resolve payment discrepancies, including short payments, overpayments, and unapplied cash.
• Reconcile daily cash receipts and prepare deposit summaries.
• Maintain accurate records of all cash transactions and supporting documentation.
• Communicate effectively with customers and internal stakeholders regarding payment inquiries and discrepancies.
• Proactively identify and implement process improvements to enhance efficiency and accuracy within the cash application function.
• Assist with month-end closing activities, including account reconciliations.
• Adhere to established internal controls and accounting procedures.
• Perform other duties as assigned.

Minimum Qualifications:

• Associate's degree in Accounting or related field preferred.
• 2+ years of experience in cash application or accounts receivable.
• Proficiency in Microsoft Excel and ERP systems (e.g., SAP, Oracle, etc.).
• Strong analytical, problem-solving, and reconciliation skills.
• Excellent attention to detail and accuracy.
• Ability to work independently and as part of a team.
• Effective communication and interpersonal skills.

Bonus Points:

• Experience with automated cash application systems.
• Certified Accounts Receivable Specialist (CARS) designation.