Cash Application Analyst

The Cash Application Analyst is responsible for the accurate and timely application of client payments to accounts receivable balances and trust accounts across the Firm. This position serves as a critical link between clients, billing professionals, attorneys, Finance, and collections teams to ensure proper allocation of funds, resolution of payment discrepancies, and maintenance of accurate financial records. The Cash Application Analyst is expected to have a strong understanding of accounting principles and the relationship between cash receipts, accounts receivable, billing, reconciliations, and the general ledger. The Analyst will analyze complex payment activity, research unapplied cash, support month-end and year-end closing activities, and help drive improvements in cash application and accounts receivable processes and financial controls. The individual must possess strong analytical skills, attention to detail, sound accounting judgment, and the, ability to manage high, Cash Application & Accounts Receivable

• Accurately apply client payments received through wire transfers, ACH, lockbox, checks, and other payment channels.
• Allocate payments to appropriate client matters, invoices, retainers, trust accounts, and other receivable balances in accordance with Firm policies and accounting procedures.
• Review payment remittance information and resolve incomplete, unclear, or inconsistent payment instructions.
• Process transfers between client matters and account balances when required and ensure transactions are properly supported and recorded.
• Maintain daily cash posting schedules and ensure timely processing of all receipts.
• Monitor accounts receivable activity and identify balances, credits, deductions, and other items requiring follow-up or escalation.
• Assist with the resolution of short pays, overpayments, unapplied credits, write-offs, and other accounts receivable issues.
• Work closely with Billing and Collections to identify and resolve issues that prevent accurate cash application or timely collection of outstanding receivables.

Reconciliation, Accounting & Research

• Research and resolve unapplied, unidentified, or misapplied payments in a timely manner.
• Investigate payment discrepancies, short pays, overpayments, duplicate payments, and other exceptions and determine appropriate accounting treatment.
• Apply knowledge of debits, credits, account structures, and general ledger concepts to accurately record and analyze cash and accounts receivable activity.
• Prepare or assist with journal entries, reclasses, adjustments, and other accounting activity related to cash receipts and accounts receivable, as appropriate.
• Support month-end and year-end closing activities, including reconciliations, aging analysis, and resolution of outstanding items.

Analysis & Reporting

• Prepare reports related to cash receipts, accounts receivable, unapplied cash, aging trends, payment activity, and other relevant metrics.
• Analyze cash and accounts receivable data to identify trends, exceptions, recurring issues, and opportunities for improvement.
• Monitor the aging of unapplied and unidentified balances and drive timely resolution.
• Assist management with forecasting, cash collection reporting, and other financial analysis as requested.
• Support internal and external audit requests as needed.

Process Improvement, Automation & Technology

• Actively evaluate cash application and accounts receivable processes to identify opportunities to improve efficiency, accuracy, controls, and service levels.
• Identify manual, repetitive, inefficient, or error-prone activities and recommend process redesign, automation, or other improvements.
• Use all available Firm technology to improve cash application and accounts receivable processes, including workflow tools, system functionality, reporting and analytics, system integrations, automation, OCR, and other available technologies.
• Proactively evaluate and appropriately leverage artificial intelligence (AI) and emerging technologies to reduce manual effort, improve payment matching and research, enhance reporting, identify exceptions, and increase overall efficiency.
• Partner with Accounting, Information Technology, Billing, Collections, and other departments to evaluate and implement technology-enabled process improvements.
• Test new system functionality, automation, and reporting solutions and provide feedback regarding accuracy, controls, usability, and effectiveness.
• Continuously evaluate whether existing processes can be performed more efficiently, accurately, or effectively using available technology.
• Develop, maintain, and improve standard operating procedures and process documentation as processes and technology evolve.
• Use AI and other technologies responsibly and in accordance with Firm policies, confidentiality requirements, information security standards, and applicable data protection requirements.

Client & Internal Service

• Communicate with clients regarding payment details, remittance information, account balances, and payment-related inquiries.
• Partner with attorneys, legal assistants, billing specialists, collections personnel, and client accounting teams to resolve payment and accounts receivable inquiries.
• Provide exceptional customer service while maintaining confidentiality, professionalism, and appropriate judgment.
• Clearly communicate unresolved issues and escalate matters requiring management attention in a timely manner.

Compliance & Controls

• Ensure compliance with Firm accounting policies, client trust accounting requirements, and internal controls.
• Maintain accurate and complete documentation supporting cash transactions, reconciliations, journal entries, adjustments, and other accounting activity.
• Assist with implementation and monitoring of Finance department procedures, controls, and best practices.
• Identify and escalate unusual, suspicious, or potentially fraudulent transactions in accordance with Firm procedures.

transaction volumes in a fast-paced professional services environment, * Bachelor’s degree in Accounting, Finance, Business Administration, or a related field preferred.

• Equivalent combination of education and relevant experience may be considered.
• 3+ years of experience in cash application, accounts receivable, billing, accounting, or finance operations.
• Experience in a law firm or professional services environment preferred.
• Experience working with high-volume transaction processing and complex client billing structures strongly preferred.
• Strong understanding of accounts receivable, cash application, and fundamental accounting principles.
• Working knowledge of debits and credits, general ledger concepts, reconciliations, journal entries, and the relationship between cash receipts, accounts receivable, and financial reporting.
• Knowledge of legal billing practices and client matter structures preferred.
• Advanced analytical, research, and problem-solving skills.
• Strong reconciliation capabilities and demonstrated ability to research and resolve complex financial discrepancies.
• Demonstrated interest in process improvement and the ability to identify opportunities to use technology to improve efficiency and accuracy.
• Comfortable learning and using new technologies, including automation tools, reporting platforms, and AI-enabled solutions.
• Excellent attention to detail and organizational skills.
• Ability to prioritize multiple deadlines in a fast-paced environment.
• Strong written and verbal communication skills.
• Ability to maintain confidentiality of client and financial information.
• Proficiency in Microsoft Excel, including pivot tables, VLOOKUP/XLOOKUP, and reconciliation analysis.
• Experience with Aderant, or similar financial management systems preferred.
• Working knowledge of Microsoft Office Suite and reporting tools.
• Support compliance with applicable legal, regulatory, and audit requirements., * Must be authorized to work in the United States without employer sponsorship now or in the future

• This position is not eligible for visa sponsorship

Pay Range and Compensation Package

Honigman provides a generous total compensation package, which includes comprehensive health and well-being benefits, as well as 401k and profit sharing. The anticipated annual pay range for this role is $70,000 to $90,000 (exempt). The actual offered pay rate will be determined based on various factors, including qualifications, experience, geographic location, education, external market data, and internal equity considerations.

Benefits & Additional Information

Successful candidates will enjoy an exceptional career opportunity within a welcoming environment. Eligible employees can also take advantage of Honigman’s comprehensive benefits program, highlights of which are below:

• Healthcare, life and disability insurance
• 401K and profit sharing
• Bonus program
• Generous All Purpose Leave (APL) program that increases with tenure
• Well-being programs (e.g., mental health services, medical resources, and more)
• Learning and development programs
• Employee discounts, * 401(k)
• 401(k) matching
• AD&D insurance
• Commuter assistance
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid sick time
• Paid time off
• Parental leave
• Profit sharing
• Referral program
• Retirement plan
• Tuition reimbursement
• Vision insurance
• Work from home

Honigman is a premier business law firm, based in Michigan with an international practice. Honigman is consistently recognized as one of the 101 Best and Brightest Places to Work, we earned this recognition by recruiting attorneys and staff members with outstanding credentials. Currently, we are looking for a Cash Application Analyst in our Detroit Office. In addition to our Corporate Detroit Office, we have offices in Chicago, IL, Grand Rapids, Bloomfield Hills, Ann Arbor, Kalamazoo, Lansing, and Washington D.C. With more than 350 attorneys working in 60 different areas of concentration, Honigman provides timely and cost-effective counsel to clients in numerous industries.