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A Complete Checklist of Customer Master File Components

Customer master file has important components to consider for effective account receivables. Here's the list of complete components in customer master file.

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About this course

description
lessonOverview

One of the most important documents in your accounts receivable files is the customer master file. Use this checklist of 38 components to make sure yours is complete.

Customer Master File Listing
Use this checklist of key components as a starting point for your customer master file.
Included Not Included Component Being Checked
Credit Control Number
Customer Legal Name
Trade Style
Cross-Reference Name
Address Line 1
Address Line 2
Address Line 3
City
State
Zip
Telephone
SIC Code
Date Business Started
Legal Organization Code
President or Owner's Name
Date Our Account Opened
Date of Last Sale
Date of Last Payment
Year-to-Date Sales
Credit Limit
Credit Risk Code
Approved Payment Terms Code
Date of Credit Approval
Credit Approved By
D-U-N-S Number
D&B Rating
D&B (or other) Report Date
Interchange Report Number
Code Interchange Rating
Interchange Report Date
High Credit Last Months
Owes Now
Past Due
Past Due Over 30 Days
Past Due Over 90 Days
Date of Oldest Item
Weighted Average Days to Pay
Responsible Salesperson

 

Source: Credit Today's Special Report: Building the Foundation of Your Future Cash Flow.

 
instructor
name title image description Ins
David Schmidt Order-to-Cash and SME Risk Expert, Credit Today Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue. Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue.
related
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KPIs and Reporting 6 Successful Tips On Obtaining Financial Statements from Your Customers Here's the most practised tips that guides in obtaining or requesting financial statements from your customers.Implement each tip to get access to updated statements https://academy.highako.com/successful-tips-on-obtaining-financial-statements-from-your-customers  
Deductions Resolution 2020 Credit and AR Department Fraud Survey: Part 1 Surprisingly, dealing with frauds in 2020 appeared to be a glass half full occasion for many organizations. Credit teams were not overwhelmed with fraud attacks and for the most part, they were able to combat fraud. https://academy.highako.com/2020-credit-and-ar-department-fraud-survey-part-1 video

 

About this course

description
lessonOverview

One of the most important documents in your accounts receivable files is the customer master file. Use this checklist of 38 components to make sure yours is complete.

Customer Master File Listing
Use this checklist of key components as a starting point for your customer master file.
Included Not Included Component Being Checked
Credit Control Number
Customer Legal Name
Trade Style
Cross-Reference Name
Address Line 1
Address Line 2
Address Line 3
City
State
Zip
Telephone
SIC Code
Date Business Started
Legal Organization Code
President or Owner's Name
Date Our Account Opened
Date of Last Sale
Date of Last Payment
Year-to-Date Sales
Credit Limit
Credit Risk Code
Approved Payment Terms Code
Date of Credit Approval
Credit Approved By
D-U-N-S Number
D&B Rating
D&B (or other) Report Date
Interchange Report Number
Code Interchange Rating
Interchange Report Date
High Credit Last Months
Owes Now
Past Due
Past Due Over 30 Days
Past Due Over 90 Days
Date of Oldest Item
Weighted Average Days to Pay
Responsible Salesperson

 

Source: Credit Today's Special Report: Building the Foundation of Your Future Cash Flow.

 
instructor
name title image description Ins
David Schmidt Order-to-Cash and SME Risk Expert, Credit Today Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue. Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue.
related
image tag title description link contentType
KPIs and Reporting 6 Successful Tips On Obtaining Financial Statements from Your Customers Here's the most practised tips that guides in obtaining or requesting financial statements from your customers.Implement each tip to get access to updated statements https://academy.highako.com/successful-tips-on-obtaining-financial-statements-from-your-customers  
Deductions Resolution 2020 Credit and AR Department Fraud Survey: Part 1 Surprisingly, dealing with frauds in 2020 appeared to be a glass half full occasion for many organizations. Credit teams were not overwhelmed with fraud attacks and for the most part, they were able to combat fraud. https://academy.highako.com/2020-credit-and-ar-department-fraud-survey-part-1 video