Accounts receivable of the Russian Federation. What is accounts receivable in simple words? How to manage accounts receivable

Organizations or individual entrepreneurs with a non-cash payment system are often perplexed: “What is it: accounts receivable are getting bigger every month, growing like a snowball?” Someone will say that this is good - products (services) are in demand, but with the calculation you can wait a while. But do not flatter yourself - basically, such an increase is a signal that the company will incur losses in the near future. Have you ever thought that some permanent debtors use you as a bank? Those funds that are not paid to you on time are free money for your clients. They send them to other needs, they say, you can wait with payments (no one demands it). And what do credit organizations do in this case? Naturally, fined for late payment or accrue interest. So it's time to understand what it is and how to reduce it, taking it under strict control!

Tips to help reduce accounts receivable

In principle, the entire "receivables" is divided into the following types: normal (the period between shipment (rendering services) and the settlement period under the contract); overdue (the amount was not received on the date specified in the contract) and hopeless (when there is no way to return the funds). And in order not to be in the second and third situations, you must adhere to the following tips. Permanent work with receivables has several stages.

Why is a debt audit necessary?

With proper management, constant monitoring of debts works effectively. Most clients tend to pay on time. In addition, it is advisable to check the status of accounts by conducting an audit of receivables and. According to its results, weaknesses and strengths of the company's activities are identified, and appropriate measures are proposed to improve its financial condition. The main steps are:

1. Study of constituent documents,
2. Analysis of the linkage of financial documentation with the terms of contracts and prices in force at that time.
3. Evaluation of settlement documents, comparison with reporting forms.
4. Determining the reliability of data in the balance sheet and its applications.
5. Development of recommendations.

In principle, the area of ​​work with receivables and payables requires only a well-functioning system of organization and control. Set your own rules and then follow them.

Who is a debtor? The term "Debtor" is a synonym for the word "Debtor". This is a person who is entrusted with an obligation, for example, by a contract. The debtor can be an organization, an individual entrepreneur and an individual.

This concept does not have a negative connotation, it only denotes the role of the subject in economic activity. The same companies can be creditors and debtors to each other. For example, in a contract of sale, the seller acts as a debtor until the obligation to deliver the goods has been fulfilled. On the other hand, the buyer must pay for the products, so he is also the seller's debtor in respect of monetary obligations.

- the monetary equivalent of unfulfilled obligations of a particular organization. Its occurrence is due to the fact that settlements between companies cannot be made simultaneously with the delivery of goods, the performance of work or the provision of services. This is only one of the types of working capital of a commercial enterprise.

Classification of receivables

There are several criteria for dividing this phenomenon into types.

According to the predicted terms of fulfilling obligations, receivables can be:

1. short-term - when payments are expected to be received within 12 months from the moment the debt arises.
2. long-term - the fulfillment of obligations will take more than a year.

This classification is important for accounting purposes. So the payment for expensive technological equipment can take several years, which should be taken into account when preparing reports on the profitability of the manufacturing company.

According to the criterion of the possibility of obtaining payment, receivables are divided into:

1. Urgent . The debtor does not violate its obligations, since the deadline for their performance has not come. The terms of commercial transactions may involve different procedures for mutual settlements, so the very fact of having a debt does not indicate a problem.
2. Overdue . The debtor violates his obligations. It is with such debt that specialists of companies are actively working. They send claim letters to debtors with the aim of claiming funds, property or fulfilling obligations in another form. As an exclusive method of working with debtors who have overdue their obligations, judicial protection of interests is considered.
3. Hopeless . The creditor has no legal grounds to recover the debt from the debtor. This happens, for example, if the limitation period has expired - more than three years have passed since the obligation was violated, the debtor did not recognize the debt, the claim was not filed. Another reason for recognizing a debt as uncollectible is the economic insolvency of the debtor or his. In such a situation, the debt is written off from the balance sheet of the enterprise to non-operating expenses. It makes no sense to take into account in the balance of debt that is unrealistic to reclaim.

Overdue debt is divided into reliable and doubtful. The assignment of debt to the category of reliable is possible when the creditor has real ways to receive money. For example, the debtor's property is pledged and secures the obligation.

Unlikely. The debtor's assets are decreasing, there are other overdue debts, there are no levers of extrajudicial pressure on the management of the organization. The probability of recognizing such an organization as economically insolvent is high.

According to the volume of measures taken by the creditor organization, receivables are divided into:

1. Claimed (the company has taken all measures provided by law to repay the debt).
2. Unclaimed (the organization has unused mechanisms for receiving funds from the debtor).

What is receivables

There are several items that make up a typical organization's receivables structure:

• debts for delivered goods, work performed and services rendered;
• overpayment to the budget and off-budget funds for taxes, duties, fees;
• bill debts;
• debt of subsidiaries, branches, dependent companies;
• advance payments on account of future deliveries or performance of works/rendering of services;
• other debts, for example, the debt of the founder, who contributed a share in the authorized capital not in full.

In general, about 90% of the debt in economic activity falls on the first type.

Accounts receivable management is one of the functions of the financial management of an enterprise. This activity includes:

1. verification of counterparties before the conclusion of contracts, their business reputation and the state of assets;
2. legal support of transactions, including elaboration of the procedure for settlements under contracts;
3. claim work with debtors who overdue the performance of obligations;
4. forced collection of funds through the court.

Debt management is a complex and delicate process. In theory, the mechanism is very simple: the company works with partners on its own terms. If there are delays in payment, the organization begins to conduct claims work or goes to court.

In practice, everything is much more complicated. Suppliers have to give long delays to buyers in order to win in the competition with other organizations. If companies have a long-term commercial relationship, then all disagreements will be settled through negotiations, and not through the presentation of formal claims.

And judicial protection of the interests of the organization can take years, and entail additional costs.

Even a positive court decision that has entered into legal force does not always guarantee the debtor's full performance of its obligations.

The ultimate goal of such activities is to reduce the debts of debtors to a minimum.

Kinds

Once again about the types of accounts receivable - in a convenient video format.

Each organization in its business activities conducts settlements with external and internal counterparties: suppliers and buyers, customers and contractors, with tax authorities, with founders, banks, with its employees, and other debtors.
Under accounts receivable understand the debt of other organizations, employees and individuals of this organization (debt of buyers for purchased products, accountable persons for the amounts of money issued to them in accountability, etc.). Organizations and persons who owe this organization are called debtors.
Accounts receivable is included in the more general concept of "obligation". In accordance with paragraph 1 of Art. 307 of the Civil Code of the Russian Federation (CC RF), by virtue of an obligation, one person (debtor) is obliged to perform a certain action in favor of another person (creditor), such as: transfer property, perform work, pay money, etc., or refrain from a certain action and the creditor has the right to demand from the debtor the performance of his obligation.
According to the economic content, receivables are presented in the balance sheet. This allows you to classify the debts of debtors:

• according to the sources of their formation;
• types of obligations;
• the nature of the debt;
• relation to the creditor.

Accounts receivable are divided into two types depending on the maturity:

• short-term debt- maturing within 12 months after the reporting date;
• long-term debt- maturing more than 12 months after the reporting date.

In addition, the risk of non-repayment of receivables correlates with the maturity of receivables.

The increase in risk requires closer monitoring and control over the timely and full repayment of receivables.

According to the timeliness of repayment, receivables are subdivided to ensure control over the repayment and return of receivables, as well as to analyze the level of liquidity and solvency of the enterprise.

Urgent the debt of counterparties for which the term of performance under the contract has not expired is recognized.

Debt for shipped goods, work performed, services for which the payment deadline has not yet come, but the ownership has already passed to the buyer, or an advance payment has been transferred to the supplier for the supply of goods (performance of work, provision of services) - this is an urgent (normal) receivable.

Overdue, i.e. not repaid in due time, the debt is subdivided, in turn, into claimed and unclaimed.

Claimed the debt is considered, for the return of which the creditor organization has taken all the measures provided for by law (sending claim letters, filing a statement of claim with the court).

The debt is called unclaimed if the creditor organization has not taken all the necessary actions to return it.

delayed the debt is the result of debt restructuring as agreed with the counterparty. According to paragraph 1 of Art. 823 of the Civil Code of the Russian Federation, an enterprise can provide its customers with a commercial loan in the form of deferral and installment payment for goods, works and services, which should be provided for in the contract.

According to the degree of security, receivables are divided into secured and unsecured. The following can serve as collateral: a penalty, a pledge, a surety, a bank guarantee, etc. (clause 1, article 329 of the Civil Code of the Russian Federation).

forfeit(fine, penalty interest) is a sum of money determined by law or contract, which the debtor is obliged to pay to the creditor in case of non-performance or improper performance of the obligation, in particular in case of delay in performance.

By secured pledge debt obligation, the creditor has the right to receive in compensation for the debt a part or the full value of the pledged property. The pledger can be either the debtor himself or a third party.

Under contract guarantees the guarantor undertakes to be responsible to the creditor of another person for the fulfillment by him of his debt obligation in full or in part.

By virtue of bank guarantee at the request of another natural person (principal), a bank or insurance organization (guarantor) gives a written obligation to pay the principal's creditor (beneficiary) in accordance with the terms of the debt obligation given by the guarantor, upon presentation by the beneficiary of a demand for its payment. A fee is charged for issuing a bank guarantee. After the expiration of the period specified in the guarantee, it becomes invalid and terminates.

This classification is used to analyze receivables in terms of the risk of non-payment.

If possible, receivables are divided into three groups: reliable, doubtful and hopeless (unrealistic for collection).

To reliable applies to:

• term receivables;
• secured receivables.

Doubtful the receivables of an organization are considered that are not repaid or with a high degree of probability will not be repaid within the time specified in the contract and are not secured by appropriate guarantees (clause 1 of article 266 of the Tax Code of the Russian Federation (TC RF)).

Hopeless according to paragraph 2 of Art. 266 of the Tax Code of the Russian Federation, debt is recognized:

• after the expiration of the established limitation period;
• on the basis of an act of a state body;
• in case of liquidation of the debtor;
• debts, the impossibility of collecting which is confirmed by the decision of the bailiff-executor on the completion of enforcement proceedings if it is impossible to establish the location of the debtor, his property or obtain information about the availability of funds and other valuables belonging to him, or the debtor does not have property that can be levied.

Limitation period the term for the protection of the right on the claim of the person whose right has been violated is recognized; the general limitation period is three years (Articles 195, 196 of the Civil Code of the Russian Federation).

The classification of accounts receivable, if possible, is necessary for the correct determination of the financial result of the company's activities. For example, writing off uncollectible receivables increases an organization's costs.

According to the method of repayment, receivables are divided into repaid monetary and non-monetary ways. Cash methods of debt repayment assume that obligations will be repaid by transferring funds to a current account or depositing cash in cash, i.e. by cash or non-cash payments.

Most of the settlements between organizations are made in a cashless manner - by transferring funds from the payer's account to the recipient's account using various banking operations that replace cash in circulation.

In the Russian Federation, the following forms of non-cash payments are provided: payment order, payment request, settlements by checks, settlements by letters of credit, settlements by collection orders.

Non-monetary methods of debt repayment are less common and can be presented in the form of mutual offsets, barter transactions (under an exchange agreement), bills of exchange. A bill of exchange is a written promissory note of one party (the drawer) to pay a specific amount of money upon maturity to the other party (the bill holder) in respect of completed trade transactions or in payment for work performed or services rendered.

Thus, the main way debtors repay their obligations is their performance. It is as a result of performance that the purpose for which the obligation was established is achieved. The most common form of non-cash payments used by debtors to pay off their debts is payment orders.

Regulatory regulation of accounting for settlements with debtors

Accounting is carried out in accordance with regulatory documents that have different status. Some of them are mandatory (Federal Law of 06.12.2011 N 402-FZ "On Accounting", hereinafter - Law N 402-FZ; accounting provisions), others are advisory in nature (Chart of Accounts for accounting of financial and economic activities organizations, approved by the Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n; guidelines; comments).

An economic entity, guided by the legislation of the Russian Federation on accounting, federal and industry standards, independently forms its accounting policy based on its structure, industry and other features of its activity. It affirms:

• working chart of accounts;
• forms of primary accounting documents, accounting registers;
• the procedure for conducting an inventory and methods for assessing assets and liabilities;
• document flow rules and accounting information processing technology;
• the procedure for monitoring business transactions, as well as other decisions necessary for the organization of accounting.

The moment of occurrence of receivables is determined, first of all, by the terms of the concluded contracts and is associated with the moment of sale of goods (works, services).

The moment of transfer of ownership of the goods can be fixed in the contract separately, and then, in accordance with this moment, accounts receivable are reflected in accounting.

In the absence of an indication in the contract at the time of transfer of ownership, it is considered to have occurred at the time of shipment of the goods by the seller, since the right of ownership of the purchaser of the thing under the contract arises from the moment it is transferred, unless otherwise provided by law or contract (Article 223 of the Civil Code of the Russian Federation).

Article 9 of Law N 402-FZ establishes that the facts of economic life are subject to registration by the primary accounting document at the time of the operation (fact of economic life) or immediately after its (its) completion.

On the basis of clause 10 of the Regulation on accounting and financial statements in the Russian Federation (approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n, hereinafter referred to as the Regulation on accounting), clause 5 of the Regulation on accounting "Accounting policy of the organization" PBU 1/2008 (approved by Order of the Ministry of Finance of Russia dated 06.10.2008 N 106n), an accounting policy is formed for accounting in an organization, which involves the application, including for accounting for receivables, the principle of temporal certainty of the facts of economic activity, according to which the facts of the economic activity of the organization refer to the reporting period in which they occurred, regardless of the status of settlements on them.

Along with this, organizations can establish in the contract the moment of transfer of ownership, different from the shipment, for example, at the time of receipt of funds in payment for the shipped products.

By virtue of Art. 317 of the Civil Code of the Russian Federation, monetary obligations must be expressed in rubles. In this case, the contract may provide that monetary obligations under the transaction are payable in rubles in an amount equivalent to a certain amount in foreign currency or conventional monetary units.

The procedure for assessing receivables is established by clause 6 of the Accounting Regulation "Income of the organization" PBU 9/99 (approved by Order of the Ministry of Finance of Russia dated 06.05.1999 N 32n).

Settlements with debtors are reflected in the financial statements in the amounts arising from the accounting records and recognized by the organization as correct (clauses 73 - 78 of the Accounting Regulations).

The deadline for the collection of receivables (limitation period) is set at three years (Article 196 of the Civil Code of the Russian Federation), after which the debt is subject to write-off; the creditor has the right to provide in the contract for the presence of a pledge for the shipped products, the subject of which can be any property, including things and property rights. In the event that the buyer fails to fulfill its obligations, execution may be levied on the subject of pledge in accordance with the procedure established by the agreement, unless otherwise provided by the Law on Pledge.

According to the Accounting Regulation "Accounting for assets and liabilities of an organization, the value of which is expressed in foreign currency" PBU 3/2006 (approved by Order of the Ministry of Finance of Russia dated November 27, 2006 N 154n), the value of liabilities expressed in foreign currency is subject to conversion into rubles to reflect in accounting and financial reporting. In addition, the accounting and financial statements reflect the exchange rate difference on operations related to the full or partial repayment of receivables denominated in foreign currency, if the exchange rate on the date of fulfillment of payment obligations differed from the exchange rate on the date of acceptance of this receivable for accounting in the reporting period or from the exchange rate at the reporting date in which these receivables were last restated.

Exchange differences on receivables are subject to crediting to the financial results of the organization (except for exchange differences associated with the formation of authorized capital, which are subject to crediting to additional capital) in the reporting period to which the date of repayment of receivables relates or for which financial statements are prepared.

Termination of obligations is carried out in accordance with Ch. 26 of the Civil Code of the Russian Federation, which provides for various grounds for the termination of receivables under contracts. Repayment of receivables is made, as a rule, in the manner determined by the agreement containing all the essential conditions.

If the buyer is late in paying his debt, the creditor must take measures to recover the receivable by sending a claim to the buyer organization, and then filing a claim with the arbitration court.

Along with the contract, the repayment of debts is influenced by the norms established by regulatory documents.

The amount received to pay off receivables, which does not cover it in full, is directed, first of all, to pay off the costs of the creditor in obtaining performance, then to cover interest, and in the remainder - to cover the principal amount of the debt (Article 319 of the Civil Code of the Russian Federation).

For the use of the creditor's funds due to evasion of payment for the products received by him, or any other delay in paying for it, the recipient of the products is obliged to pay interest, the amount of which is determined by the discount rate of bank interest on the date of fulfillment of the monetary obligation (unless a different amount of interest is established by the agreement).

The creditor may assign the right to claim his receivables to third parties.

According to paragraph 77 of the Accounting Regulations, receivables for which the limitation period has expired, other debts that are unrealistic to collect, are written off for each obligation on the basis of an inventory to the account of the reserve for doubtful debts or to the financial results of the organization.

Clause 11 of the Regulations on Accounting "Expenses of the Organization" PBU 10/99 (approved by Order of the Ministry of Finance of Russia dated 06.05.1999 N 33n, hereinafter - PBU 10/99) determines that other expenses include, in particular, the amounts of receivables, written off after the expiration of the limitation period, and uncollectible debts.

Organization of accounting of settlements with debtors

LLC "Art-card" is a commercial organization established to carry out economic activities for profit, is a legal entity, carries out entrepreneurial activities, has separate property on the right of ownership, has an independent balance sheet, settlement accounts in banks, a round seal containing its full name in Russian and an indication of the city in which it is located.

The authorized capital of LLC "Art-card" is formed from the nominal value of the shares of its participants, its size is 10,000 rubles.

The main buyers of OOO "Art-otkrytka" are large trading companies, including those owning a network of branches.

The main activity of LLC "Art-card" is the wholesale of printing (postcards, envelopes, calendars) and souvenirs (paper bags, plastic bags, soft toys, magnets, key chains, ceramics, jewelry) products. The main share of sales falls on the group of goods "postcards".

The accounting policy of the organization is formed by the chief accountant and approved by order of the head of the organization.

Accounting for receivables

The main accounts receivable in OOO "Art-card" is formed on the basis of settlements with buyers and customers.

LLC "Art-card" concludes supply contracts with its customers. According to clause 2.4 of the standard supply agreement, the moment of transfer of ownership of the goods is the moment the goods are transferred by the supplier to the buyer or carrier.

This debt is recorded on account 62 "Settlements with buyers and customers" using the following sub-accounts: 1 "Settlements with buyers and customers (in rubles)"; 2 "Settlements on advances received (in rubles)".

Analytical accounting provides the possibility of obtaining data separately on the amounts of advances received, in addition, analytical accounting is maintained for each of the sub-accounts in the context of buyers and customers.

Thus, Art-Postcard LLC shipped polygraphic products to the buyer of Center LLC under a supply agreement in the amount of 44,840 rubles. (including VAT - 6840 rubles). The funds from the buyer for the received products were transferred to the settlement account of Art-card LLC.

Reflection in the accounting of settlements with the buyer LLC "Center" is presented in table. one.

Table 1

Entries on accounting accounts for settlements with buyers in case of deferred payment

Thus, when products are shipped to buyers and presentation of settlement documents (waybill, invoices) to them, Art-Postcard LLC records the formation of receivables in the amount of the cost of the sold (shipped) products at sales prices, including VAT (highlighted in the presented documents in a separate line), due to be received from buyers.

In the case of an advance payment, Art-Postcard LLC writes out and sends to the buyer settlement documents for the forthcoming delivery. The buyer makes payment, after which the goods are shipped.

Thus, Art-Postcard LLC entered into an agreement with the buyer, Book LLC, for the supply of printed products worth 160,200 rubles. (including VAT - 24,437.29 rubles). The contract provides for 100% prepayment. The buyer transferred the prepayment amount to the current account of Art-card LLC. The following month (but in the same quarter), Art-Postcard LLC shipped the products to the buyer.

Reflection in the accounting of settlements with the buyer LLC "Kniga" is given in table. 2.

table 2

Entries on accounting accounts for settlements with buyers on prepayment

In addition to receivables from settlements with buyers and customers, the organization also has receivables from settlements with suppliers and contractors.

Under the terms of the agreement concluded between the organizations, settlements with suppliers and contractors are carried out after the shipment of goods, performance of work or provision of services, or at any other time. Accounts receivable according to these calculations are formed in the organization in the event of an advance payment to the supplier or contractor, as well as in the case of the return of previously shipped products, when the former buyer of Art-card LLC becomes its supplier.

Account 60 "Settlements with suppliers and contractors" with the following subaccounts is used to account for payments received for inventory items received, work performed and services rendered: 1 "Settlements with suppliers and contractors (in rubles)"; 2 "Calculations on advances issued (in rubles)"; 5 "Calculations on returns".

Analytical accounting provides the ability to obtain data in the context of suppliers and contractors.

Thus, Art-Postcard LLC purchases a consignment of goods in the amount of 8850 rubles. (including VAT - 1350 rubles). According to the agreement with the supplier Samson LLC, the goods are shipped to the buyer's address only after the latter has paid 100% of its cost. The goods from the supplier arrived at Art-Postcard LLC the next day after the advance payment was transferred.

Reflection in the accounting of settlements with the supplier LLC "Samson" is presented in table. 3.

Table 3

Entries on accounting accounts for settlements with suppliers on received advances

In the presence of a counter homogeneous claim with the buyer, the term of which has come, LLC Art-card will offset the debt.

Thus, the mutual debt of LLC "Art-card" and LLC "TK "Prazdnik" in the amount of 21,981.78 rubles (Table 4), formed due to the return by the latter of a part of the goods shipped, but not paid on time, was closed by mutual offset.

Table 4

Entries in the accounting accounts for the reflection of offsetting

A large block of accounting for settlements with debtors is assigned to settlements with accountable persons. Accountable persons are employees of the organization who have received cash in advance for future administrative and business expenses and travel expenses.

Accounting for settlements with accountable persons is kept on account 71 "Settlements with accountable persons". Sub-account 1 "Settlements with accountable persons (in rubles)" is opened in Art-Postcard LLC to account 71.

In the debit of account 71, the amounts issued under the report and in compensation for overspending are taken into account. Accounts receivable for accountable persons are recorded from the moment they receive advance accountable amounts and are repaid upon full settlement of these amounts.

Analytical accounting on account 71 is maintained for each amount issued for the report.

So, employee Ivanov was given 1,180 rubles for a report. for the purchase of materials (Table 5). The employee purchased materials in the amount of 1180 rubles. (including VAT - 180 rubles), which is confirmed by the relevant documents of the seller. The employee submitted an advance report to the accounting department.

Table 5

Entries on accounting accounts for settlements with accountable persons

Settlements with various debtors and creditors, settlements on claims are reflected on account 76 with sub-accounts: 2 "Settlements on claims"; 5 "Other settlements with different debtors and creditors (in rubles)"; 7 "Calculations for taxes deferred for payment".

Analytical accounting for sub-account 2 "Settlements on claims" is maintained for each debtor and individual claims.

So, for violation of the terms of payment for the goods provided for in the delivery contract, Art-otkrytka LLC charged the buyer of Vector LLC a penalty in the amount specified in the contract - 35,400 rubles. (Table 6). A written notification was received from the buyer about the recognition of the amount of this sanction, after which the amount of the penalty was transferred to the settlement account of Art-card LLC.

Table 6

Entries on accounting accounts in the settlement of claims against buyers

Thus, in the event of a delay in the fulfillment by the buyer of the contractual obligations assumed to pay for the goods, Art-Postcard LLC sends the buyer a claim stating the fact of violation and containing a demand for payment of a penalty with reference to supporting documents (agreement, reconciliation act, payment documents, commodity invoices).

In accordance with the current labor legislation, deductions are made from the amounts of accrued wages, which are considered receivables to the organization. The main deduction from wages is the withholding of personal income tax (PIT).

So, in table. 7 shows the reflection in the accounting of LLC "Art-card" of deductions from the wages of employees of personal income tax for October 2012.

Table 7

Entries on accounting accounts for withholding personal income tax from employees' salaries

In addition, accounts receivable in an organization may be listed in the debit of accounts 68 and 69 "Settlements for social insurance and security" in correspondence with account 51. The formation of this debt is associated with overpayment of taxes and fees to the budget or overpayment in settlements for social insurance, pension provision , compulsory medical insurance of employees of the organization.

The procedure and reflection in the accounting of the write-off of receivables

LLC "Art-card" writes off receivables not only after the expiration of the limitation period, but also in the case when it became known that the debt is unrealistic to collect. Accounts receivable with an expired limitation period and other debts that are unrealistic to collect are written off in the organization for each obligation based on the inventory data, written justification and order of the head.

The very concept of an unrealistic (bad) debt for collection is not defined by accounting legislation. LLC "Art-card" is guided by the classification of bad debts, which is given in Art. 266 of the Tax Code of the Russian Federation.

Most often, Art-card LLC writes off receivables due to the expiration of the limitation period. The organization writes off debts with an expired limitation period in accounting and tax accounting. A loss from the write-off of uncollectible receivables is recognized for both accounting and tax purposes. Therefore, the creditor himself is interested in writing off receivables from the balance sheet.

In addition, the organization writes off accounts receivable due to the liquidation of the debtor organization. In this case, LLC "Art-card" recognizes the receivables as uncollectible and writes off in the reporting period in which the debtor is excluded from the Unified State Register of Legal Entities.

The organization is not allowed to write off accounts receivable as bad debt if the creditor has a counter homogeneous claim (the limitation period for which has not expired) in an amount exceeding the receivable, since in this case the creditor has a real opportunity to pay off the debt by offsetting mutual requirements, for which a statement by one party is sufficient.

A necessary condition for writing off accounts receivable with an expired limitation period and other debts that are unrealistic to collect is an inventory (paragraph 77 of the Accounting Regulations). The organization conducts an inventory of the debts of individual debtors in order to identify debts with an expired limitation period for their subsequent write-off. However, Art-Postcard LLC does not conduct an inventory of settlements with counterparties before compiling annual financial statements (clause 27 of the Accounting Regulations), as a result of which bad debts subject to write-off could also be identified.

Thus, during the inventory of receivables, carried out as of 09/01/2012 on the basis of the order of the head, it turned out that the organization's balance sheet includes receivables from Kaleidoscope-TRK CJSC for the total amount of 825,876.77 rubles, which arose under a supply agreement, including 168,476.58 rubles. - debt not confirmed by the debtor, 657,400.19 rubles. - Debt, the limitation period for which has expired. The organization writes off unclaimed and unconfirmed receivables in accordance with the order of the head. There was no allowance for doubtful debts.

The reflection in the accounting of Art-card LLC of the write-off of the receivables of the buyer of CJSC Kaleidoscope-TRK is given in Table. eight.

Table 8

Entries in the accounting accounts for the write-off of receivables

Since the allowance for doubtful debts is not created in LLC "Art-card", accounts receivable for which the limitation period has expired cannot be written off against the specified reserve and is included in financial results. The procedure for creating and using a reserve for doubtful debts should be considered, since starting from 2011, according to the requirements of the Accounting Regulations, an organization is obliged to create a reserve for doubtful debts for accounting purposes in the event that receivables are recognized as doubtful. There is no such requirement for tax purposes. The creation of a reserve must be stipulated in the accounting policy of the organization.

The procedures for creating and using a reserve for doubtful debts in accounting and tax accounting are similar, but the amount of the created reserve may differ. The reason is that accounting, unlike tax accounting, does not contain:

• restrictions on the creation of a reserve in the amount of 10% of the revenue of the reporting (tax) period;
• requirements on the amount of the created reserve, depending on the duration of the overdue debt.

How the amount of the reserve is calculated is not determined by accounting legislation, and the requirements for the size of the created reserve in terms of tax legislation are presented below:

• More than 90 days - The total amount of the debt identified on the basis of the inventory
• From 45 to 90 days (inclusive) - 50% of the amount of the debt identified on the basis of the inventory
• Up to 45 days - Does not increase the amount of the created reserve

Due to the complexity of the calculations, it would be rational to determine in the accounting policy for accounting purposes the amount of the reserve for tax accounting requirements and reflect it in the same amount in accounting.

Allocations to reserves for doubtful debts in accordance with clause 11 of PBU 10/99 are recognized as other expenses and are written off to account 91, subaccount 2 "Other expenses". To summarize information on reserves for doubtful debts, account 63 "Reserves for doubtful debts" is intended (Table 9). Accounts receivable are shown in the balance sheet at the end of the reporting year, less the allowance for doubtful debts.

Table 9

Entries in the accounting accounts for accounting for the creation of a provision for doubtful debts

If the debt is still repaid, then the accountant will restore the reserve for the amount of funds received (Table 10).

Table 10

Entries in the accounting accounts for the recovery of the provision for doubtful debts

Thus, losses from the write-off of receivables are recognized both in accounting and in tax accounting. The procedure for writing off the amounts of receivables and payables and the formation of a reserve for doubtful debts in accounting is regulated by the Accounting Regulations, PBU 9/99, PBU 10/99 and other regulatory documents, and in tax accounting - by the Tax Code of the Russian Federation.

Correct and timely reflection in the accounting of receivables is extremely important for the organization.

Information base and methodology for analyzing receivables

The analysis of receivables is part of the overall current asset management policy aimed at expanding the volume of sales of goods, and consists in optimizing the total amount of this debt and ensuring its timely repayment.

As the main sources of information for the analysis of receivables, the data of the balance sheet and explanations to it, as well as analytical accounting data are used.

Accounts receivable means the temporary diversion of funds from the turnover of the organization and their use in the turnover of other organizations. This temporarily reduces the solvency of the organization, i.e. makes it difficult to meet their obligations.

The amount of accounts receivable is influenced by:

• total sales;
• the settlement system adopted in the organization;
• payment discipline of buyers;
• receivables collection policy. The active policy of the organization in relation to the collection of receivables allows you to reduce its balances and improve its quality;
• the state of accounting, regular inventory, the existence of an effective system of internal control;
• the quality of the analysis of receivables and the consistency in the use of its results.

Great influence on the turnover of capital invested in current assets, and therefore on the financial condition of the organization has an increase or decrease in receivables.

A sharp increase in accounts receivable and its share in current assets may indicate an imprudent credit policy of the enterprise in relation to buyers, or an increase in sales, or the insolvency and bankruptcy of some buyers.

A decrease in accounts receivable is assessed positively if it occurs due to a reduction in the period of its repayment. If the receivables are reduced due to a decrease in the shipment of products, then this indicates a decrease in the business activity of the organization.

In the process of analysis, it is necessary to study the dynamics, composition, causes and prescription of the formation of receivables, to establish whether it contains amounts that are unrealistic for collection, or those for which the limitation period expires. If there are, then urgent action must be taken to recover them. Particular attention should be paid to old debts and the largest amounts of debt.

The analysis of the state of receivables begins with a general assessment of the dynamics of its volume in general and in the context of articles. Analysis of the level of receivables can be carried out using absolute and relative indicators, which must be considered in dynamics. Quantitative analysis of receivables allows you to proceed to the analysis of the qualitative state of receivables.

The qualitative state of receivables characterizes the probability of its receipt in full. An indicator of this probability is the period of formation of debt, as well as the share of overdue debt. In addition, a qualitative analysis of receivables allows you to determine the dynamics of overdue short-term and long-term receivables.

It is necessary to allocate justified and unjustified receivables: justified debt refers to a debt that has not come due, all other debt is unjustified. The longer the grace period, the higher the risk of default on the invoice.

Particular attention should be paid to doubtful receivables, i.e. debts that may not be collected by the organization. The presence of doubtful (unjustified) debt indicates that this organization has problems in the system of settlements with buyers and customers. The growth trend of doubtful receivables indicates a decrease in the liquidity of the balance sheet, which worsens the financial condition of the organization.

Consider the indicators used to analyze the structure, quality, turnover of receivables.

• Accounts receivable turnover ratio:

KOb \u003d Revenue / Average receivables.

It shows how many times the receivables turned around during the reporting period. An increase in this ratio, as a rule, means a decrease in sales on credit; a decrease means an increase in commercial credit granted.

• Average amount of accounts receivable for the period:

DZsr = (DZn - DZk) / 2,

where DZn and DZk are receivables at the beginning and at the end of the period, respectively.

• Accounts receivable turnover in days, i.e. duration

one turnover of accounts receivable:

DD \u003d DZav x Number of days in the period / Revenue

DOB \u003d Number of days in the period / KB.

A decrease in the maturity of receivables is positively assessed, and vice versa.

The analysis evaluates the turnover of both all receivables (long-term and short-term) and short-term receivables with a maturity of 12 months. In addition, the debt of individual debtors is analyzed.

During the analysis it is necessary to determine:

• receivables mobility ratio:

Kmob \u003d Amount of receivables / Amount of current assets.

It shows the share of receivables in the amount of current assets. This ratio should be compared in dynamics over a number of reporting periods;

• the share of receivables in the structure of the organization's funds:

Oud. weight = Amount of accounts receivable / Balance currency;

• growth rate of receivables:

Growth rate = DZotch / DZprosh,

where DZotch and DZprosh - accounts receivable for the reporting period and for the previous period, respectively.

This indicator should be compared with the growth rate of the balance sheet. If the growth rate of receivables outpaces the growth rate of the balance sheet, this indicates a negative trend in the financial stability of the organization;

• share of overdue receivables in the total amount of receivables:

Oud. weight = Amount of overdue receivables / Amount of receivables.

Since receivables are essentially free credit to buyers, they should, where possible, be balanced by the same free credit to suppliers. Therefore, accounts receivable should be considered in conjunction with accounts payable. Ideally, there should not be large discrepancies between them, since due to the receipt of receivables, accounts payable should be repaid. The analysis of receivables is also complemented by the analysis of accounts payable.
In the process of analysis, it is necessary to determine the ratio of receivables and payables:

Xootn = Amount of accounts receivable / Amount of accounts payable.

This coefficient is considered normal when it is equal to 2, i.e. the amount of accounts payable is approximately 2 times secured by accounts receivable. If the ratio of receivables and payables is less than 2, this means that the conversion of the liquid part of current assets into cash is slowing down.

1) analysis of the dynamics, movement and structure of receivables.

Here you need to evaluate the dynamics of receivables, compare the pace of sales and debt, and analyze the structure of debt. The growth of accounts receivable can be considered justified if it occurs as a result of sales volume, but the growth rate should not exceed the growth rate of sales;

2) analysis of the quality of receivables. It is necessary to assess the quality of receivables by assessing the change in the share of overdue and doubtful receivables;

3) assessment of the turnover of receivables.

Thus, the methodology for analyzing receivables includes horizontal and vertical analysis. It also involves assessing the composition and movement of receivables based on the compilation of analytical tables and the calculation of indicators of receivables turnover. It is important to calculate the share of receivables in the volume of current assets and the share of doubtful debts in the composition of receivables.

Analysis of the composition, structure, dynamics and turnover of receivables

The analysis is carried out in the following stages:

• analysis of absolute and relative indicators of the state, structure and movement of receivables;
• analysis of the state of receivables by terms of formation, assessment of the share of overdue receivables;
• calculation of turnover indicators, the share of accounts receivable in the total volume of current assets, assessment of the ratio of the growth rate of accounts receivable to the rate of sales proceeds;
• analysis of the ratio of receivables and payables.

An analytical table was compiled to assess the composition, structure and dynamics of the receivables of Art-Postcard LLC (Table 11).

Table 11

Analysis of the composition, structure and dynamics of receivables

From Table. 11 it can be seen that there is no long-term receivables in Art-Postcard LLC, all receivables are short-term.

Table data. 11 show that accounts receivable in 2011 decreased compared to 2010 by 0.41% and amounted to 234,087 thousand rubles, which is 974 thousand rubles. less than in 2010. To the greatest extent, this was due to an increase in buyers' debts. Thus, in 2011, compared to 2010, the amount of receivables from buyers increased by 1,262 thousand rubles, or 0.54%.

Advances given to suppliers and contractors have a positive downward trend. Thus, in 2011 compared to 2010, the amount of advances decreased by 31.63% and amounted to 227 thousand rubles, or 0.10% of the total, while in 2010 this figure was 332 thousand rubles. rub. (0.14% of the total).

In 2012, there is a significant increase in accounts receivable compared to 2011 - by 38.66%; it amounted to 324,583 thousand rubles, which is 90,496 thousand rubles. more than in 2011. This is mainly due to an increase in buyers' debts: in 2012, compared to 2011, the amount of buyers' receivables increased by 83,261 thousand rubles, or by 35.68%.

Advances paid to suppliers and contractors have a negative upward trend: in 2012, compared to 2011, the amount of advances increased by 164.76% and amounted to 601 thousand rubles, or 0.19% of the total, while in 2011 this figure was 227 thousand rubles. (0.10% of the total).

Thus, in all three analyzed periods, the largest share in the total amount of receivables is the debt of buyers and customers (at the end of 2010, the share of this debt in the total amounted to 99.81%, at the end of 2011 - 99.69%, at the end of 2012 - 97.54%). The share of other components is insignificant. In connection with the foregoing, special attention should be paid to accounts receivable arising from settlements with buyers. To do this, it is necessary to study the composition, structure and dynamics of this debt (Table 12).

Table 12

Analysis of the composition, structure and dynamics of customer debt

A significant part of the buyers' debt is formed by settlements with the four largest of them: Optovik-M CJSC, Opt-Service Company LLC, Successful Purchase LLC, Trade House Sbyt LLC. The debt of the remaining numerous buyers has a lower specific weight in the total value and combined in the column "Other buyers".

So, according to the data for the end of 2010 - 2012. The largest share in the total debt of buyers and customers is the debt of CJSC Optovik-M. Its receivables in 2011 decreased compared to 2010 by 20.91% and amounted to 71,410 thousand rubles, and in 2012 compared to 2010 increased by 84.23% and reached 131,558 thousand . rub.

For a more in-depth analysis, we will compile a summary table in which receivables are classified by the terms of formation (Table 13). Regular compilation of such a table allows you to provide a clear picture of the status of settlements with debtors and identify overdue receivables.

Table 13

Analysis of accounts receivable of buyers by terms of formation for 2012

Table data. 13 show that the main part of receivables is debt in the interval up to 30 days. It accounts for 35.03%, or 110,922.94 thousand rubles. from the entire amount of debt buyers.

The share of debts with a period of formation from 31 to 60 days (34.39%) and debts from 61 to 180 days (26.69%) is large. This debt may not be overdue, but may be with individual debtors within the contractual terms of payment, which differ in different contracts.

At the same time, 3.89% of the debt, or 12,316.52 thousand rubles, can be classified as doubtful, since granting a deferred payment for more than 180 days is not practiced in LLC Art-card. It follows from this that funds have been diverted from the turnover of the organization for more than six months.

It is worth, for example, to pay attention to the overdue accounts receivable of the buyer LLC Opt-Service Company, which amounts to 22,437.01 thousand rubles. (15,549.09 + 6,887.92), for debts of other buyers.

Since doubtful receivables tend to become uncollectible over time, and bad debts are subject to write-off and recognition of the corresponding losses, early identification of doubtful receivables helps to prevent large future losses associated with late payment.

As can be seen from Table. 14, overdue receivables tend to increase both in terms of amount and share in the total debt of buyers. An increase in the indicator in dynamics indicates that the risk of non-repayment of debts is growing. Consequently, the company needs to pay more attention to overdue receivables, namely: to identify such debts in a timely manner and take all necessary measures to collect them.

Table 14

Share of overdue accounts receivable in customer debt

In the process of analyzing receivables, the indicators of receivables turnover are calculated and evaluated, which characterize the number of debt turnovers during the analyzed period, as well as the average duration of one turnover (Table 15).

Table 15

Accounts receivable turnover analysis

Table data. 15 show that the duration of one turnover of receivables has decreased, which indicates a decrease in the maturity of receivables and can be assessed positively.

So, in 2010, the duration of the turnover of receivables was 253 days, i.e. the debt was repaid on average 1.42 times over a period of 360 days, in 2011 the duration of the turnover decreased by 56 days and amounted to 197 days, in 2012 the duration of the turnover of receivables also decreased (by 8 days) and amounted to 189 days. This is a positive trend, as it leads to the release of funds from circulation.

In addition, according to Table. 15 you can compare the growth rate of revenue with the growth rate of receivables. Thus, the growth rate of receivables in 2012 amounted to 138.66% compared to 2011 and outpaced the growth rate of revenue, which for the same period amounted to 124.47%. The opposite situation developed in 2011: compared to 2010, the growth rate of revenue, which amounted to 129.32%, is higher than the growth rate of accounts receivable - 99.59%.

The relative savings of funds due to the acceleration of the turnover of receivables in 2011 amounted to 66,619.78 thousand rubles, in 2012 - 12,638.58 thousand rubles.

The ratio of receivables and payables is given in table. sixteen.

Table 16

Analysis of receivables and payables

The ratio of accounts receivable and accounts payable in the organization exceeds 1, i.e. accounts receivable covers accounts payable. Nevertheless, for a number of years it has been less than the normative value of 2, which means that the conversion of the liquid part of current assets into cash is slowing down.

Thus, for the organization it is necessary to strike a balance, when the size and conditions for obtaining commercial loans and deferrals from suppliers would be no worse than the conditions for lending by the company to its customers. In this case, there is a positive trend, when the correct ratio is observed for the company: the amount of receivables is higher than accounts payable.

The analysis of the receivables of LLC "Art-card" allows us to draw the following conclusions:

• the main share of receivables - the debts of buyers. In 2010, 2011, 2012 this share amounted to 99.81, 99.69 and 97.54%, respectively, of the total amount of receivables;
• at least 72% of buyers' debt in the total amount of such debt in 2010 - 2012. was the debt of four main buyers: CJSC Optovik-M, LLC Opt-Service Company, LLC Successful Purchase, LLC Trade House Sbyt;
• accounts receivable in 2012 increased compared to 2011 by 38.66%, while the amount of revenue increased by 24.47%, accounts receivable in 2011 decreased compared to 2010 by 0.41%, and the amount of revenue increased by 29.32%. An increase in receivables is justified if accompanied by a corresponding increase in revenue;
• the share of overdue receivables in the organization is growing annually, which indicates a violation by buyers of payment discipline and inattention on the part of the organization to this group of buyers;
• advances given to suppliers and contractors have a negative upward trend: for example, in 2012, compared to 2011, the amount of advances increased by 164.76% and reached 601 thousand rubles, while in 2011 this figure decreased by 31.63% compared to 2010 and amounted to 227 thousand rubles;
• the duration of one turnover of receivables has a positive downward trend. Due to the acceleration of the turnover of receivables in the organization, there is a relative saving of funds, which in 2012 amounted to 12,638.58 thousand rubles, and in 2011 - 66,619.78 thousand rubles;
• short-term accounts payable are fully covered by short-term accounts receivable, which is a positive factor that indicates the potential ability of the organization to pay off its creditors without attracting additional sources of financing.

Recommendations for Effective Accounts Receivable Management

The analysis of receivables allows us to conclude that the company has certain problems with debtors, in particular, there is an increase in overdue debts. It is safe to say that the main tool for improving the quality of receivables is increased control.

To increase the effectiveness of control over receivables, it is necessary to approve an internal regulation on the control and management of receivables, where it is necessary to prescribe the procedure for working with receivables, aimed at the timely identification of overdue debts, procedures for collecting overdue debts and those responsible for their implementation.

For more effective management of receivables, it is necessary to:

• carry out preliminary work with potential debtors before shipment, including the determination of their solvency. Such work, especially concerning new buyers, should be carried out by the legal service of the organization in terms of checking the constituent documents of the counterparty, and can also be carried out by the financial department in terms of analyzing the solvency indicators of the counterparty according to its financial statements;
• when concluding contracts, carefully negotiate with buyers the conditions for granting a deferral, a system of penalties for late payment;
• conduct regular monitoring of the state of debt, in particular, analysis of the composition, structure, dynamics and turnover of receivables;
• regularly conduct acts of reconciliation with counterparties to confirm the debt (this condition, as well as the procedure and frequency of reconciliations can be prescribed in the contract). Carrying out regular reconciliations with buyers is especially important for the organization in connection with a large assortment of goods, a large number of shipments, and the provision of deferred payment;
• strengthen control over the quality of receivables, i.е. if overdue receivables are identified, which may develop into bad debts, take timely measures for pre-trial and judicial settlement of such debts;
• establish a system for filing claims;
• control the ratio of accounts payable to accounts receivable.

A significant excess of accounts payable makes it possible to attract additional sources of financing.

These measures imply a clearer organization of accounting and analysis of receivables, which, in turn, should lead to the identification of overdue receivables at an earlier date, the timely formation of reserves for doubtful debts and, as a result, to improve the quality of receivables management in the organization.

Considering that the most important indicator of receivables is their turnover, and, as can be seen from the calculations, the duration of one turnover of receivables is gradually decreasing, it is recommended to continue to pursue a policy of receivables management aimed at reducing the duration of turnover, for example, to increase the number of contracts concluded on the terms of 100 % prepayment, reduce the deferred payment provided to the minimum possible value, develop a system of price discounts when making immediate payments for purchased products.

Thus, it is necessary to strive to minimize the receivables of each buyer and other debtors, which will reduce the need for borrowed sources of financing and will positively affect the liquidity of the organization.

The main goal of receivables management is to develop measures to improve the current or the formation of a new customer lending policy aimed at increasing profits. The analysis allows you to assess how effectively the company invests its funds in lending to customers.

The development of market relations leads to the emergence of a number of new forms of settlements with debtors, for example refinancing of receivables(accelerated transfer to other forms of current assets of the organization: cash and highly liquid short-term securities).

One of the main forms of refinancing accounts receivable, which can be recommended by Art-card, is the sale of debts (factoring).

Factoring(from the English factoring - "intermediary") - an instrument for refinancing receivables, when using which this current asset is converted into cash by providing a financial agent to the financing provider in return for the monetary claims assigned to their debtors.

In Russian law, factoring is understood as a transaction formalized by a financing agreement for the assignment of a monetary claim (Chapter 43 of the Civil Code of the Russian Federation), according to which one party (financial agent) transfers or undertakes to transfer funds to the other party (client) on account of the client’s monetary claim ( creditor) to a third party (debtor), arising from the provision by the client of goods (works, services) to a third party, and the client assigns or undertakes to assign this monetary claim to the financial agent (Article 824 of the Civil Code of the Russian Federation).

That is, the object of the factoring transaction is the monetary claims that arose from the supplier to the buyers, to whom the products were sold on a deferred payment basis, assigned to the financial agent. The subjects of the transaction are: the supplier of goods (works, services), the buyer of goods (works, services) and the financial agent (credit institution or factor company).

The factoring implementation mechanism is as follows. The supplier, having assigned the receivables to the financial agent, receives from the latter 60 - 90% of the debt amount, and the remaining 40 - 10% is deposited on a special account as compensation for the risk. Only after the supplier's debtors pay for the products supplied by him, the financial agent returns the remaining amount minus the cost of factoring services.

In this way, the deferred payment turns into a delivery with immediate payment, which frees the supplier from the additional costs associated with the management of receivables.

Advantages factoring operations:

• for suppliers - accelerating the turnover of accounts receivable, reducing the costs associated with managing accounts receivable, improving financial condition, lack of collateral;
• for the buyer - the purchase of goods (works, services) on the terms of deferred payment, reducing the risk of purchasing low-quality products, increasing the volume of purchases.

The expediency of using one or another method is determined by the goal pursued by the creditor (seller, exporter).

Factoring services are most effective for medium-sized enterprises that are experiencing financial difficulties due to untimely repayment of debts by debtors and the limited sources of credit available to them.

Thus, in modern market conditions, business entities are forced to pay close attention to the issue of managing their receivables. When building a management policy for this current asset, a company can use not only traditional, but also innovative management methods and tools, in particular factoring.

disadvantages factoring operations:

• high price;
• the lack of a clear and understandable legal framework regulating the procedure for their use.

In general, both the global and Russian factoring markets are in the growth stage, which indicates the demand for this service in working with receivables.

Hello! In this article we will talk about the basics of managing accounts receivable of an enterprise.

Today you will learn:

• What is accounts receivable?
• How to prevent its uncontrolled increase;
• Can you sell accounts receivable?

Essence of accounts receivable

Every company has accounts payable and accounts receivable. If everything is more or less clear with creditors, then the second option of obligations raises many questions among not only start-up entrepreneurs.

Receivables - these are the debts of other parties (buyers, recipients of borrowed funds) to your enterprise. That is, you are considered a creditor. For example, you shipped goods to your partner, but he has not yet transferred money to the account. It turns out that he is your debtor: he has a receivable in front of you.

These obligations can be considered in two senses. On the one hand, "receivables" are the losses of the company, but on the other hand, future benefits. Here everything depends on the correct financial policy of the management of the head and the conscientiousness of the recipients of goods and services. A competent approach to the current receivables is the key to success.

Short and long term debt

Accounts receivable to the enterprise may have different duration. If your customers delay payment for up to 12 months, then such debt is considered short-term. Its presence is present in 100% of firms.

Most often it does not exceed several months (3-6). This is normal, as you can provide the counterparty with a deferred payment, or the transfer of money is delayed due to holidays, the peculiarities of the bank through which the payment was made.

If you've shipped a product and haven't seen the money for it in the past year, there's a long-term commitment involved. They give reason to doubt the future solvency of the acquiring company. In order not to miss this moment and get your money, you need to immediately choose reliable business partners.

A long period of repayment of receivables negatively affects the entire enterprise. If you have a large amount of receivables from several buyers, then things are really bad. This means that there is less and less money in circulation.

If there comes a time when you urgently need funds, you will have to apply for a loan, which will make the company's situation even worse.

Overdue obligation

When you conclude an agreement with future partners, you set an acceptable payment term for the services provided. Under the circumstances, the buyer either transfers the money on time, or does not pay them at all.

The first case is ideal when the terms of the agreement are not violated. The buyer receives the goods, and you are the money that you use for the purpose of the enterprise.

When payment is not received on time, there is an overdue receivable. Its presence makes your company more vulnerable, you are limited in funds and must support the company with the remaining money.

Claims receivables and refunds for the delivery or the goods themselves are valid for three years after the date agreed in the agreement with the partner as the due date. If for some reason you do not take this into account, then after 36 months the limitation period for receivables will be canceled and the debtor company will write off the obligations on its income.

Doubt or hopelessness

If the debtor company delays paying its obligations, you must find out for yourself whether it is possible to recover your money from it or not. There is the concept of doubtful debt, which is expressed in the hope of receiving funds from the buyer. This is expressed in the fact that he has no signs, but for some reason does not want to repay your debt.

Bad debt to the enterprise is that the company curtails its activities in the market and declares itself bankrupt. Then you will not be able to return your goods or money. In practice, such cases are rare and only with those leaders who failed to implement an effective financial policy.

The term for writing off receivables is three years, if you did not manage to file a lawsuit before the bankruptcy procedure, then you may not see your money either.

Doubts about the payment of funds by the debtor appear during lengthy negotiations, as a result of which he evades payment. In this case, the re-delivery of the goods to his enterprise is not allowed in order to avoid the formation of a larger debt.

Before entering into an agreement with a new company, carefully study its activities in the market. If she has a history of uncollectible obligations, then you should not make the delivery. It is better to prevent such cases immediately than to deal with the collection of receivables later.

Obligation objects

Accounts payable are directed to different objects of activity of enterprises.

Common areas are debts for:

• Supply of products, services or works;
• Bills;
• Budget funds;
• Advances;
• Accountable amounts (for example, issuing money to an employee for the purchase of stationery);
• Loans for employees.

Thus, the debt can be not only outside the enterprise, but also within it. In addition, the form of obligations between branches of the same company is common.

The ratio of internal and external debts of debtors should be such that the firm can function normally. The most acceptable form of debt is considered internal. It is much smaller than the external volume and, most likely, will be returned ahead of schedule.

For example, if you, as a manager, decide to lend to your own employees of your company at a low interest rate, then you can be sure that employees will make such payments. Each of them is interested in further work, besides, contracts that limit the possibility of early dismissal allow them to be kept until the end of payments. If you entrust amounts to an accountable person, you should be aware of the possible consequences.

Why did accounts receivable arise?

Features of the functioning of firms at some stage lead to the formation of obligations of debtors.

This established practice has some common reasons:

• Inaccurate wording in contracts between the supplier and the debtor;
• dishonesty of partners;
• Payment delay;
• Goods credit.

The supplier may be to blame for the formation of receivables. The head should not allow phrases in the contract that can be understood in two ways. It is necessary to indicate clear terms for the return of receivables in such a way that the buyer does not have a single question. Competent and experienced lawyers who know all the intricacies of the field of law are usually involved in drafting agreements.

The fact of dishonesty of the parties to the contract may not bypass even the largest and most well-known company. Dishonest managers who cannot cope with their work responsibilities always exist and bring a lot of trouble to other firms.

Postponement or credit is a normal condition of relations between the parties. Accounts receivable in this case is repaid according to the established terms. Provide such payment options only to trusted businesses.

What can affect accounts receivable

There are various factors inside the firm and outside it, which in one way or another can affect the nature of the repayment of the debt or the solvency of the debtor.

Internal sources include:

• Ineffective financial management policy;
• Inappropriate introduction of prices for goods;
• Untimely impact on the debtor.

As an external influence, you can consider:

• inflation rate;
• Ratios of exchange rates;
• The crisis state of the economy.

If your contract does not provide for measures to influence a persistent defaulter, then the return of the debt may not be carried out at all. This important feature is taken out by a separate clause of the agreement.

Also, you should not distribute goods in large volumes without monetary compensation to all debtors. You should try to avoid such moments. You can make a concession to a partner in whom you are confident.

Inflation can make your services more expensive. The increase in prices, which is provided for by the contract, may lead the other party to the agreement into confusion and delay payment. The crisis in the economy also has a strong impact on the terms of the contract already concluded. Depending on the current position of the debtor's company in the market, payment terms may not be met.

Managing debts of debtors

The efficiency of the firm directly depends on the structure of receivables. You need to competently approach this issue in order to avoid the unpleasant consequences of the enterprise, up to bankruptcy.

Not only the obligations of the organization to other suppliers can significantly limit its functioning. The share of receivables is also high here. In the process of managing it, the manager needs to decide for himself what this management will consist of.

Must include here:

• Creation of a special department at the enterprise, which will study the statistics of indicators;
• Understanding the objectives, functions and results of the ongoing debtor funds control policy;
• Ensuring liquidity of debtors' obligations;
• The application of maximum attention to the turnover ratio of debtors' obligations.

A detailed and thorough analysis of receivables should be carried out on a regular basis. This will help to avoid unexpected disruptions in the development of the enterprise.

Who controls the cash flows of debtors

Any organization is interested in fruitful and effective cooperation with its contractors. In order for this process to proceed at the proper level, several departments are created within the company that control the process of debtors' activities.

Previously, this function belonged only to the financial manager. However, enterprises are growing, concluding an increasing number of contracts, and it becomes more difficult to control each of them.

The internal composition of the firm, which affects receivables indirectly or directly:

• The highest level is the leader;
• Commercial department (persons concluding agreements with partners);
• Sales managers;
• Financial Sector (Head of the Finance Department and his subordinates);
• Lawyers;
• Security Service.

The main direction of work for all departments is set by the head. Representatives of commerce are looking for the most profitable partners who do not have significant debts. Lawyers competently draw up contracts or study agreements proposed by opponents.

The security service is available only in large companies. Its tasks are to protect the interests of the company from unscrupulous persons and fraudsters by carefully studying the client base.

Control tasks

Before starting any activity with counterparties, an enterprise needs to set itself tasks that should be solved in the course of cooperation.

Such tasks in the management of debtors' obligations include:

• Studying the functioning of the future debtor (he must have a good reputation and no debts);
• Caring for the upcoming drafting of the contract by a competent lawyer;
• Finding funds to finance emerging liabilities;
• Controlling the dynamics of accounts receivable indicators;
• Acceptance of ways to repay debts;
• Work with debtors in the form of claims;
• Opportunity to prove yourself at the state level to receive gratuitous support.

Those employees who are involved in the accounting and distribution of debtors' funds should be able to:

• Use for the benefit of the organization the goals of management;
• Ensure the fulfillment of the assigned tasks by 100%;
• Develop motivating proposals for debtors;
• control the current situation;
• Analyze the state of the company and send a report to the head;
• Plan the activities of the organization (we define the mission, strategy, decision policy);
• Appoint subordinate employees, each of whom will deal with separate areas of receivables;
• Compare the indications of the current state of the company with the planned one.

The leader must be the instigator of any new action. By appointing competent specialists who understand the intricacies of managing debts of debtors, he increases the chances for the rapid development of the company's activities. Every skill and skill will come in handy for a positive customer experience.

Every receivables management function is essential to daily performance if you want your business to prosper. Management policy determines the future prospects for the development of the company at a high level.

What decisions are made for management purposes

Managing the flow of capital from debtors, the company must make effective decisions aimed at various aspects of the development of receivables.

Decisions are made on the following issues:

• Accounting for indications of obligations for each specific date;
• Analysis of all actions preceding the occurrence of overdue receivables;
• Taking into account the latest developments in the field of receivables management (every year there are new strategies developed by market gurus and aimed at increasing the turnover ratio);
• Regulation and control of the state of debts of debtors attributable to the current date.

We provide liquidity of accounts receivable

In order for the enterprise to develop correctly and quickly, it is necessary to use all available assets in turnover. This condition also applies to receivables.

The very existence of obligations of debtors with a competent approach allows the company to increase its own resources and perform its activities more efficiently. This means that, having received funds from another debtor, you must put them into circulation again. The debt that has settled in the hands of the debtor for a long time will have a bad effect on your organization.

In order not to suffer the liquidity of receivables, it is best to avoid its delay or long return. The faster the money comes to the organization from the debtor, the higher will be the turnover of assets and the company's income.

An endless flow to debtors and back in a short time guarantee the successful existence of the company. The manager at the head of the financial department needs to competently influence customers and motivate them to pay as soon as possible.

Turnover ratio and its characteristics

Accounts receivable is estimated by the turnover ratio. It displays the amount of revenue per 1 ruble spent. The higher its value, the less time it takes the company to repay debts from customers.

To calculate the indicator, you need to find the average annual receivables: (obligations at the beginning of the period + debts at the end of the period) / 2. The receivables ratio is equal to the ratio of the company's revenue to the average annual amount of liabilities.

The effectiveness of the accounts payable management policy is to increase the ratio.

For these purposes, you can:

• Increase revenue;
• Reduce accounts payable.

Using the balance lines, you can express the formula for calculating the coefficient in this way: line 2110/((1230 at the beginning of the report + 1230 at the end of the report)/2).

for example, accounts receivable at the beginning of the period amounted to 3,000,000 rubles, at the end - 3,200,000 rubles. The average is: (3,000,000 + 3,200,000)/2 = 3,100,000 rubles. Revenue at the beginning of the period is equal to 2,300,000 rubles, at the end - 1,800,000 rubles. The turnover ratio will be in the first case: 2300000/3100000 = 0.74%, in the second: 0.58%.

In the above example, the coefficient decreased by 16%. This suggests that the business of the company is not developing in the best way. The ratio decreased due to the decrease in revenue, in addition, accounts receivable increased by the end of the year. The company needs to analyze its activities and change the performance for the better.

To calculate the receivables turnover ratio in days, you need to divide the total number of days in the period by the ratio itself. For example, let's take the obtained indicators of 0.74% and 0.58%. Turnover in days: 365/0.74 = 493 days and 365/0.58 = 629 days. As was to be expected, by the end of the year, the repayment of debts to the firm began to take longer.

Growth of accounts receivable and decline in enterprise development

The dynamics of indicators of the movement of funds of debtors to the enterprise and back plays an important role in the reporting of the company. The balance between accounts payable and accounts receivable has its own subtleties and varies for each enterprise.

If there is an increase in the debts due to the firm, then this phenomenon must be assessed at two stages. The first is the emergence of new partners, the company's entry to a new level and active trade. A slight increase in the indicator in different periods is allowed and signals only a high-quality money management policy.

If the increase in receivables reaches an uncontrollable level from period to period, then we are talking about an illiterate approach in cooperation with partners. This process leads to a significant outflow of funds from circulation.

This may suspend the operation of the enterprise or limit its capital. Further failure to take proper measures leads to a significant reduction in the company's assets and either bankruptcy.

The rapid growth in the number of debtors can lead to the fact that it becomes simply unprofitable to develop a running business. Such a company will bring loss to the owner and endanger its continued existence. Therefore, regular monitoring and management of the movement of receivables is necessary.

Sale of receivables

Often, in the course of its activities, a firm can act as both a creditor and a debtor. For example, you provided shipping services to a company that has not yet paid for your work. You, in turn, received a certain product from the supplier, but do not have the funds to pay. That is, you are waiting for your debtor to return the money, which you will transfer to your creditor.

This situation is not uncommon, and therefore, at the legislative level, the right to assign debt was invented, which greatly simplifies the process of returning funds. This assignment is called a cession. It turns out that you have ceded your debt to your own creditor. In other words, your debtor must now pay off the creditor.

In this transaction, you are considered the assignor, and the new creditor is the assignee. An agreement is concluded between you, which contains all the nuances of repaying the debt. This action leads to the stabilization of the state of the enterprise and avoids unpleasant consequences in case of overdue debts.

We do account receivables

Typically, receivables are sold at a lower price. For example, if a buyer owes you 23,000 rubles, you can make a cession in the amount of 20,000 rubles.

A receivable in the event of a sale would be recorded using the following entry:

Also, the new creditor has the right to resell the obligations to a new person with a premium. In this case, the receivable is transferred to the account of another assignee.

This will be reflected in the postings as follows:

Only the first creditor under the transaction has the right to resell the existing receivables. All subsequent resales will be treated as transactions involving the sale of financial investments.

In the first case, the difference between the price of the initial purchase of the obligation and its sale will be used for income tax purposes. In subsequent transactions, the entire amount of funds received will be taken into account.