Customer Master Overview
The Accounts Receivable application component records and manages accounting data of all customers.
Creating Customer Master Data Customer master records are maintained in sub-ledger and are used in Sales and Distribution as well as Financial Accounting. By storing customer master data centrally, it is enabled to be accessed throughout the whole organisation, and avoid the need to enter the same information twice. It gives also the ability to avoid inconsistencies in master data by maintaining it centrally. If one of the customers changes his or her address, it is only necessary to enter this change once and accounting and sales departments will always have up-to-date information.The customer master record contains:
General Data: Data for communication with the customer, such as address, fax, region, country and telephone numbers
Company Code Data: Dunning procedures and the date of the last dunning notice, reconciliation account, grouping, tax data
Sales Data: Order processing, shipping, and billing data
The Customer Account Groups can be created as per the requirement.
Editing & Blocking & Deleting Customer Master Data
The account group cannot be edited
The account assignment cannot be edited
Blocking A customer account can be blocked and unblocked at any time.
Deleting Customer accounts to be deleted are first marked for deletion. No transaction figures should be stored for this customer account. The account must be blocked for posting before it can be deleted.
Displaying Changes The system logs all changes to customer master records. For each changed field, it stores the time of change, the user’s name, and the current and previous field contents.
Reconciliation Account When any entry is posted to a subsidiary ledger, the system automatically posts the same data to the general ledger (see the following illustration). Each subsidiary ledger a reconciliation accounts in the general ledger. These reconciliation accounts ensure that the balance of G/L accounts is always matching with the sub ledger. This means that you can draw up balance sheets at any time without having to transfer totals from the sub ledgers to the general ledger.
Note: Reconciliation account is mandatory while creation of Customer Master Data.