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AR Processes | Customer Master File

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PCI DSS: Protecting Card-Holder Data
AR Processes | Customer Master File
The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements for boosting payment account data security. The Standard is comprehensive, with requirements ranging from network architecture to policies and procedures.

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Managing Resale and Exemption Certificates  Full Members Only
AR Processes | Customer Master File
Sales tax resale certificates (for companies buying goods that will be resold or used in a product to be resold) and exemption certificates (for non-profits and religious organizations) excuse those buyers from paying sales tax. Most companies do not incorporate sophisticated systems for these certificates, and keeping track of them can be an aggravation, especially if you work with hundreds of customers. But if they're not in order, auditors can quickly determine you're responsible for any sales tax owed which can be considerable.

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Financial Institutions and the Patriot Act  Full Members Only
AR Processes | Customer Master File
On October 26, 2001, President George W. Bush signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the USA PATRIOT Act). Section 326 of the law includes provisions to combat money-laundering and the financing of terrorism, and all financial institutions must comply with it. This includes having a customer identification program in place.

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Managing Customer Data  Full Members Only
AR Processes | Customer Master File
Customers are the single most necessary element to any business, so it is vital to maintain accurate, up-to-date information on every one of them.

The most efficient tool for keeping track of customers is a customer master file, a central database that contains all pertinent information about each customer.

An effective customer master file can contribute to operational excellence by helping a company prevent inaccurate charges, reduce fraud, expand customer knowledge, ensure regulatory compliance, manage revenue sources, track payment histories, and save money. While primarily a tool for the accounts receivable department, which should maintain it and control access to it, a top-notch customer master file is valuable to the whole company.

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Friday, Aug 1 2014


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Full Members Only Sales and Use Tax Rate Update - August 2014

12 Benefits of a Shared Service Center Approach to Credit, AR and Collections

Expand Global Sales With Range of Online Payment Acceptance Options

7 Steps to Avoid Having to Repay a Bankruptcy Preference

Sales and Use Tax Rate Update - July 2014


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