What is a counterparty?
A counterparty is any trading partner in ClaimDS — a customer, a vendor, or both — with the code, GST details and categories everything else references.
A counterparty is a trading partner in your ClaimDS master data. Agreements, claims, business volume, credit notes and settlements all point at the same counterparty record, so getting it right once keeps everything downstream consistent.
Customer, vendor, or both
Every counterparty has a type — a customer you sell to, a vendor you buy from, or both (common for a distributor who buys from you and sells on your behalf). Marking a partner as both keeps their sales and purchase activity on a single record instead of two that can drift apart.
Code and identity
Each counterparty has a code — a short, tenant-facing identifier. If you don't supply one, ClaimDS generates it for you (a customer or vendor prefix plus a number). The name is required and unique, and where you enter a GSTIN, ClaimDS derives the state from it.
GST and tax details
Beyond the GSTIN, a counterparty carries its GST registration type and tax-related details. These feed the tax treatment on credit notes and the place-of-supply decision at settlement, so accuracy here prevents tax problems later.
Categories and segments
You can classify a counterparty against your own lookup-code categories — trade channel, region tier, supplier tier and so on — and assign it to sales or purchase areas. These classifications let agreements target the right partners.
Aliases
If a partner appears under different names across your documents, you can record those as aliases on the one record, so claims and statements match the same counterparty rather than fragmenting across spellings.
Related
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