New Account Approval Checklist
Approval is the gate between an application and live credit — this checklist makes sure nothing that should stop an account gets waved through in the rush to ship.
What's included
- A final go/no-go checklist before activating credit
- The sign-offs that must be in place
- How approval ties to your credit limit tiers
- Where to record the decision
5 min read
Why a final gate matters
Onboarding gathers the information; approval is the moment someone with authority says yes and the account goes live. Keeping the two distinct stops a half-checked account from shipping because everyone assumed someone else had signed off. The approval gate is short by design — it confirms the prerequisites are met and the right person authorised the limit.
The approval checklist
- Signed credit application on file
- Legal entity confirmed (ABN/ACN match)
- Terms of trade accepted
- References checked and acceptable
- Credit check completed for the limit tier
- Guarantee obtained if required by policy
- Proposed limit within the approver's authority — or escalated
- Limit and terms entered in the accounting system
- Approver name, role, date recorded
- Decision: [ ] Approved [ ] Approved with reduced limit [ ] Declined / cash only
How to use it
Make this the last step before any credit order is released. Match the approver to the limit tiers in your credit policy: a limit above one person's authority must be escalated, not quietly approved. Complete your onboarding checklist first so every prerequisite here is already satisfied.
Record the decision against the account. If you approve with a reduced limit or as cash-only, note why — it protects you and informs the next review.
This is general business information, not legal advice.
Tips
- Keep approval distinct from onboarding so nothing ships half-checked.
- Match the approver to the limit tier — escalate anything above their authority.
- Record the approver, date and any reduced-limit reasoning.
- Make approval the final gate before the first credit order is released.
FAQ
Who should approve new accounts?
Whoever holds authority for the requested limit under your credit policy. Larger limits escalate to the owner or finance manager.
Should the salesperson approve the account?
No — separate the person closing the sale from the credit decision to avoid pressure to over-extend.
What if the limit exceeds the approver's authority?
Escalate to the next tier. Never approve above your own authority just to get the order out.
Templates are a head start — not legal advice
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