Atif Shaikh

About Atif Shaikh

Data analytics in finance and accounting involves using data to uncover insights…

Experience

1. Associate - Finance & Accounting

   WNS

   Feb 2025 — Present · IN

   Cash App - Check\'s, ACH & Email\'s. Cash Application is the process of matching incoming payments from customers to their corresponding invoices and applying those payments to their accounts.1. Receiving Payments- Businesses receive payments from customers through various methods, including checks, electronic payments, or other digital transfers. Identifying Payments- The incoming payments are identified and the details (amount, customer, payment method, etc.) are recorded. Matching Payments to Invoices- Cash application analysts match the payment information to the corresponding invoices in the accounts receivable system. Applying Payments- Once a match is found, the payment is applied to the open invoice, reducing the outstanding balance. Posting to General Ledger- The payment is recorded in the general ledger, reflecting the reduction in accounts receivable. Handling Exceptions- Discrepancies or incomplete information may require further investigation and resolution, such as handling partial payments, incorrect amounts, or missing remittance advice. Reconciling Bank Accounts- Bank statements are reconciled with the cash application records to ensure all transactions are accurately accounted for. Monitoring and Improvement- The cash application process is continuously monitored and improved to enhance efficiency and accuracy.