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Define the relationship population
Name the supplier or lender entity, counterparties, credit products and reporting period. Distinguish individual invoices from the continuing business relationship.
Define the trade relationship precisely
Name the supplier, the business responsible for payment and the obligation being reported. Decide whether the program covers individual invoices, an account relationship or another agreed basis. Explain what falls outside that scope. Commercial data needs to reflect the relationship and destination requirements involved; assumptions borrowed from a consumer account may not apply. Begin with a representative trade example that the business can explain from agreement through settlement.
Separate identity from a billing label
A trading name, billing address, branch and legal entity are not automatically interchangeable. Establish how your source system identifies the party responsible for the obligation. Keep available business identifiers and the evidence supporting a match. When identity is ambiguous, route it for review rather than creating confidence from a partial name match.
Use this with your team
Work through these questions with the people who prepare and review the records. Keep the answers with your program notes, along with the evidence you relied on and the person responsible for any follow-up. Return to unresolved questions before making the next decision.
- Which business owes the obligation?
- What is the agreed basis for the trade record?
- Which relationships need a separate reporting decision?
What to carry forward
A scoped trade portfolio and a clear unit of reporting.
