Accounts receivable is the debt of a given enterprise. What are accounts receivable and accounts payable? Accounts receivable accounting

Accounts receivable are the debts of counterparties to your company. If the amounts cannot be recovered from the counterparty, then the debt becomes bad. It can be written off, but it must be done according to different rules in accounting and tax accounting. In this article we will tell you in simple terms what it is and give the types and repayment terms.

Tax officials and judges introduced a new ban, which made it more difficult for companies to write off accounts receivable.

The concept of accounts receivable

Create a balance sheet for your organization. Do you see the debit balance on the settlement accounts (60, 62, 66, 67, 68, 69, 70, 73, 75, 76)? This is the enterprise’s receivables - the amount that your company owes to other organizations, citizens, the budget and extra-budgetary funds.

Check the statute of limitations for counterparties' debts. If there is a bad debt in the accounting, it must be written off. Experts from the Glavbukh System spoke about how to do this correctly.

What is included in accounts receivable? This includes debts:

• buyers and customers (account 62);
• suppliers and contractors for advances paid to them, as well as for claims recognized or awarded by the court (invoices);
• insurance organizations for the payment of insurance compensation, organizations issuing securities owned by the organization, for the payment of dividends, etc. (account 76);
• budget and state extra-budgetary funds for the return (offset) of overpaid taxes and contributions (accounts);
• employees to the organization - for loans issued on account of amounts, compensation for damage, etc. (accounts, ,);
• founders for contributions to the authorized capital (account 75).

That is, the structure or composition of receivables is characterized by how the debts were formed:

• when selling goods (works, services) on deferred payment terms. A receivable appears at the moment when you have shipped goods to the counterparty, started performing work for him, providing services, but have not yet received payment;
• when purchasing raw materials or other products with advance payment on deferred delivery terms;
• when overpaying taxes (fees);
• issuing cash to employees.

How are accounts receivable different from accounts payable?

In practice, the question often arises - accounts receivable - do we owe it or to us? The answer is: A receivable is something that is owed to your organization, but has not yet been received by it (essentially a property right). If the company were in debt, then this amount would be accounts payable for it.

Accounts receivable are classified as current assets of a company, regardless of their maturity date. Not all types of receivables are shown on the balance sheet line of the same name. For example, debts of suppliers or contractors for advances paid under an agreement related to the acquisition (creation) of non-current assets are reflected in section I of the balance sheet “Non-current assets”.

We found out what relates to accounts receivable. Now let's look at the classification.

Intricate contracts prevent companies from writing off accounts receivable. If the contract is drawn up in such a way that the seller cannot charge the buyer a penalty for late payment, this is a sign that the transaction is fictitious. Tax authorities have the right to recalculate income tax if they prove that the debt reserve was created artificially.

Types of accounts receivable

Depending on the classification criterion, different types of receivables are distinguished.

According to the order of occurrence, receivables are divided:

• to normal, which arose within the framework of the organization’s credit policy, established standards for assessing the creditworthiness of clients and certain limits on lending to counterparties;
• unjustified, arising as a result of violation of the requirements of the regulations and norms established in the organization for granting deferred payment to counterparties, the procedure for issuing goods and materials, etc.

According to the criterion of late payment, the following are distinguished:

• planned receivables for which repayment terms have not yet arrived;
• overdue debts for which repayment dates have approached, but payment has not been received.

Depending on the duration of the delay, various groups of receivables are distinguished. For example, the delay for which is up to 45 days, from 45 to 90 days, etc.

According to the criterion of the reality of collection, the following are distinguished:

• real debts to be collected;
• problematic (doubtful);
• hopeless.

Short term

A significant portion of receivables is classified as current or short-term debt, since the repayment period will occur within 12 months after the reporting date. The rest of the receivables are long-term. These are, for example, loans provided to counterparties for a period of more than a year.

Doubtful

A receivable that has not been repaid or with a high degree of probability will not be repaid within the period established by the agreement, and is not provided with appropriate guarantees, is considered a doubtful debt in accounting (clause 70 of the Regulations on Accounting and Reporting). Every time a doubtful receivable is identified, a reserve of the same name is formed in accounting. This is required to ensure that the organization’s reporting reflects the true financial result and the volume of real obligations of buyers and customers.

In tax accounting, reserves for doubtful debts are created voluntarily, and taxable profit is reduced by the amount of the reserve (clause 5 of Article 266 of the Tax Code of the Russian Federation). The procedure for forming a reserve is regulated in Article 266 of the Tax Code of the Russian Federation. It differs from the rules in accounting. In particular, only overdue debts that are associated with the sale of goods, works or services are considered doubtful. A reserve is created only if the delay is more than 45 days.

Hopeless

A bad debt is a debt that is virtually impossible to collect from the counterparty (clause 77 of the Regulations on Accounting and Reporting, clause 2 of Article 266 of the Tax Code of the Russian Federation):

• the statute of limitations has expired (Article 196 of the Civil Code of the Russian Federation);
• obligations are terminated in accordance with civil law due to the fact that they cannot be fulfilled. For example, due to force majeure (Article 416 of the Civil Code of the Russian Federation), liquidation of the debtor organization (Article 419 of the Civil Code of the Russian Federation), an act of a state authority or local government (Article 417 of the Civil Code of the Russian Federation).

For tax purposes, debts are also considered bad if the impossibility of collection is confirmed by a decision of the bailiff issued in connection with the end of enforcement proceedings.

Table of types of receivables

How to bypass the new Federal Tax Service ban and write off receivables when it’s convenient for you

The Federal Tax Service prohibited including receivables in expenses if the company forgot to do it on time. But there is a legal way to get around this requirement. We have prepared instructions,

Accounts receivable management

As a general rule, debt, which is reflected in the corresponding accounting accounts, is assessed at par - based on the amounts that the company presented to its counterparties (counterparties) or actually paid or accrued. When assessing the market value of receivables, the probability that they will not be repaid is taken into account.

Please note that not only overdue receivables are considered doubtful debt, but also debts for which the payment period has not yet arrived (for example, if the counterparty organization is in bankruptcy). At the same time, the debt can be overdue, but not doubtful - say, if the buyer has temporary difficulties, but he guarantees payment at a later date.

In any case, to create a reserve for doubtful debts in accounting, it is necessary not only to review and identify debts that raise doubts, but also to assess the probability of repayment (non-repayment) in order to reasonably calculate the amount of the reserve. The methodology for assessing receivables and the procedure for forming the reserve are determined in the accounting policy .

Working with accounts receivable

Accounts receivable represent the withdrawal of own working capital from economic circulation, which is accompanied by indirect losses in the organization’s income. Therefore, you will have to work with such debts. How to work with accounts receivable?

It is necessary to administer accounts receivable and control over the timely receipt of funds from buyers and customers, since not only the well-being, but also the survival of the company depends on this. Control is needed constantly, not from time to time. You will also have to develop a specific policy in the field of payment terms. Sometimes counterparties are liquidated, but debts are not repaid. Experts spoke about this.

Nobody wants to increase receivables. Everyone is striving to expand sales - increase revenue, but at the same time ensure efficient collection and a constant flow of cash.

It is not profitable to provide lenient payment terms. Since the growth of assets (in this case in the form of receivables) is always accompanied by a corresponding increase in liabilities (in this case, due to the profit that is formed at the time of recognition of unpaid revenue). But this profit is only on paper. But in fact, receivables are those funds that are lent to the buyer (customer, etc.), thereby withdrawn from the company’s turnover, that is, from funds intended for payment of labor, purchase of materials, and maintenance of property.

When do accounts receivable arise? In cases where buyers (customers) are granted a deferment. Therefore, when providing a deferment, take into account additional costs in the contract price, for example, set different prices when paying immediately and over a period of time.

In addition, the risk that the receivable will not be repaid must also be taken into account. The more debtors an organization has, the higher the likelihood (someone went bankrupt, disappeared, etc.).

As a result, information about receivables is analyzed for previous years and it is possible to determine the approximate value (percentage) of bad debts that ultimately remain outstanding. And also take this into account when formulating financial policy.

When managing receivables, the following methods are used to reduce risks:

• debt limitation (setting a maximum amount for one counterparty);
• limiting the period of installments or deferred payment;
• establishing strict sanctions for late repayment of debts;
• mandatory verification of the solvency of new and existing partners, as well as maintaining a “client dossier” for the purpose of ranking them (dividing them into reliable, dubious, undesirable, etc.) in order to establish different terms of cooperation.

When deciding how to deal with accounts receivable, avoid extremes.

The fact is that with a strict receivables management policy, its quality will increase, but there is a risk of losing or missing out on some customers (partners) who will go to competitors. And an overly liberal policy, leading at the initial stage to an increase in sales, subsequently turns into high costs (costs of claims, courts, etc.) or the impossibility of collecting revenue.

Accounts Receivable Inventory

Since information about accounts receivable is reflected in the financial statements - both in the balance sheet and in appendices (with explanations regarding the structure of debts), it must be reliable and accurate, and this is confirmed by the results of the inventory.

At least once a year - before preparing annual financial statements as of December 31 of the reporting year, companies conduct a complete inventory of all types of receivables. If an organization forms a reserve for doubtful debts for profit tax purposes, inventories are carried out more often - quarterly or monthly. Since on the basis of such an inventory the reserve amounts are determined (clause 4 of Article 266 of the Tax Code of the Russian Federation).

The procedure for inventorying payments differs from the procedure for inventorying material assets - the presence of debts and their amounts are determined based on primary accounting documents, as well as as a result of mutual reconciliations with counterparties.

Templates that will speed up reconciliation with counterparties and eliminate discrepancies

Accountable persons are required to submit an advance report within a period not exceeding three working days after the expiration date for which the cash was issued, or from the day they return to work (for example, after returning from a business trip). But the period for which cash is issued is set by the head of the organization - he indicates in the order or on the statement of the accountable person (clause 6.3 of the Bank of Russia Instructions dated March 11, 2014 No. 3210-U).

For taxes, insurance premiums and other obligatory payments, the repayment period is established by the Tax Code of the Russian Federation and Federal Law of July 24, 1998 No. 125-FZ(for premiums for insurance against accidents at work).

For contracts (supply, contract, provision of services, etc.), repayment periods are established by agreement of the parties. The average repayment period for receivables is calculated as the product of the period in days and receivables in rubles, divided by revenue from all types of sales.

That is, to determine the repayment period of accounts receivable on the balance sheet, the accountant must use the following formula:

The higher the ratio, the higher the risk that the debt will not be repaid.

Experts told us more about how to prepare financial statements and reflect receivables and payables in them.

The general limitation period, according to Article 196 of the Civil Code of the Russian Federation, is three years. After its expiration, and also if the debt is recognized as bad before the expiration of the statute of limitations (say, if the debtor organization is liquidated), the debt is written off.

More often, of course, receivables that have expired or are declared uncollectible are written off. What is the statute of limitations for debt collection >>>

If a reserve has been created, debts are written off using its funds. If the reserve amount is not enough, the difference is charged to other expenses - to the debit of account 91 “Other income and expenses” (PBU 10/99). If there was no reserve, the entire amount is debited to account 91. At the same time, it must be simultaneously accepted into off-balance sheet account 007 “Debt of insolvent debtors written off at a loss”, where it continues to be taken into account for five years (in case it is possible to receive it from the debtor). And only after this period the debt is written off from the register.

In tax accounting, written-off amounts of bad debts are included in non-operating expenses. And when creating a reserve for doubtful debts - at the expense of the reserve funds. Amounts not covered by reserve funds are also considered non-operating expenses.

Accounts receivable in reporting

An experienced specialist does not have to calculate all the coefficients (there are many of them). Just look at the balance sheet indicators - the amount of accounts payable and receivable, as well as the total values ​​of sections and the balance sheet. Section V of the balance sheet reflects only debt that must be repaid in the near future (within 12 months). Experts showed how to write off accounts receivable.

If short-term liabilities exceed current assets, this means that the organization does not have its own working capital, the situation is in crisis and requires radical measures. After all, it turns out that to pay off short-term debts there will not be enough not only the money that is already there (in accounts, in deposits, in securities) and will be received from buyers when paying off receivables, but also that which can be gained by selling stocks (not only products, but also raw materials, supplies and other valuables).

You will have to attract additional resources: either sell part of the non-current assets (which is not easy to do quickly and at an affordable price), or resort to the help of the founders, or seek other sources of financing - borrowed and other funds (which is also problematic in this situation of the company).

Ideally, the debtor and creditor should be comparable in volume with a slight advantage in favor of receivables.

How to sell a receivable

The creditor may transfer his rights to another person:

• under an assignment agreement or, as it is also called, an agreement on the assignment of the right of claim;
• on the basis of the law. For example, by a court decision, during the reorganization of an organization.

The creditor has the right to assign his rights to another person under an assignment agreement. It is also called an agreement of assignment of the right of claim. Conclude such an agreement in the same form as the original one:

• in simple written form;
• in writing and notarized if the original agreement was registered by a notary;
• in writing and register if the transaction, the claims for which are assigned, was subject to state registration.

In this case, the type of agreement that was initially concluded does not matter: purchase and sale, credit or other. For example, a purchase and sale agreement was concluded in simple written form, and the seller assigns the right to claim the debt from the buyer to a third party. The assignment agreement must also be concluded in writing.

At what price can the assignor assign the right to claim the debt?

The right of claim that the assignor transfers to the assignee is part of his property rights and is taken into account as assets. Therefore, in the assignor’s accounting, reflect the assignment of the right of claim as its sale (disposal) in account 91 “Other income and expenses.”

Proceeds from the sale of the right of claim are recognized as other income (clauses 7 and 16 of PBU 9/99). It is accepted for accounting in the amount established by the agreement on the assignment of the right of claim (clauses 6 and 10.1 of PBU 9/99).

Reflect the proceeds from the transfer of rights in accounting on the credit of account 91 in correspondence with account 76 “Settlements with other debtors and creditors”, to which the organization has the right to open a separate sub-account “Settlements under the agreement of assignment of the right of claim”. What transactions should be used to reflect assignment of claims >>>

The assignment of the right of claim for profit tax and VAT purposes is an implementation. This conclusion can be made based on the provisions of the Civil Code. The rights of claim under a contract of sale, exchange, delivery, etc. are property rights.

Tax legislation does not clearly define what relates to the exercise of property rights. Article 39 of the Tax Code defines only the sale of goods, works, and services. However, property rights do not fall under this concept (Article 38 of the Tax Code). However, the Civil Code defines property rights as an object of civil circulation (Articles 128 and 129 of the Civil Code). That is, citizens and legal entities can alienate, exchange, acquire it.

The procedure for reflecting the assignment of the right of claim by the assignor when calculating taxes depends on what taxation system he applies. Tips on taxation of assignment of rights of claim for the general system, and for special regimes -

Each organization in its business activities carries out 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 sums of money issued to them, etc.). Organizations and persons who owe this organization are called debtors.
Accounts receivable are included in the more general concept of “liability”. In accordance with paragraph 1 of Art. 307 of the Civil Code of the Russian Federation (Civil Code of the Russian Federation), 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 that the debtor fulfill his obligation.
According to their economic content, accounts receivable are presented in the balance sheet. This allows you to classify debtors' debts:

• according to the sources of their education;
• types of obligations;
• the nature of the debt;
• towards the creditor.

Depending on the repayment period, receivables are divided into two types:

• short-term debt- with maturity within 12 months after the reporting date;
• long-term debt- with a maturity date of more than 12 months after the reporting date.

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

Increasing risk requires closer monitoring and control over timely and complete repayment of receivables.

According to the timeliness of repayment, receivables are divided 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 is recognized for which the performance period under the contract has not expired.

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

Overdue, i.e. not repaid within the prescribed period, the debt is divided, in turn, into claimed and unclaimed.

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

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

Deferred 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 deferment and installment payment for goods, work and services, which must be provided for in the contract.

According to the degree of collateral, accounts receivable are divided into secured And unsecured. The following can be used as security: penalty, pledge, surety, bank guarantee, etc. (Clause 1, Article 329 of the Civil Code of the Russian Federation).

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

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

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

By virtue of bank guarantee a bank or insurance organization (guarantor) gives, at the request of another individual (principal), a written obligation to pay the principal's creditor (beneficiary) in accordance with the terms of the debt obligation given by the guarantor, a sum of money 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 accounts receivable from the point of view of the risk of non-payment.

According to the possibility of collection, receivables are divided into three groups: reliable, doubtful and hopeless (unrealistic for collection).

TO reliable applies:

• urgent accounts receivable;
• secured receivables.

Doubtful is considered to be a receivable of an organization that has not been repaid or with a high degree of probability will not be repaid within the time period specified in the agreement and is not provided with 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 recognizes the following debts:

• upon 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 collection of which is confirmed by a resolution of the bailiff 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 foreclosed on.

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

Classification of receivables according to the possibility of collection is necessary to correctly determine the financial result of the company’s activities. For example, writing off bad accounts receivable increases the organization's costs.

According to the method of repayment, receivables are divided into repayable 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 the cash register, i.e. by cash or non-cash payments.

Most payments between organizations are made non-cash - 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, commodity exchange transactions (under an exchange agreement), and settlements with bills. A bill of exchange is a written debt obligation of one party (the drawer) to pay a specific amount of money upon the due date of payment to the other party (the holder of the bill) for completed trade transactions or in payment for work performed or services rendered.

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

Regulatory regulation of accounting for settlements with debtors

Accounting is carried out in accordance with regulatory documents that have different statuses. Some of them are mandatory for application (Federal Law of December 6, 2011 N 402-FZ “On Accounting”, hereinafter referred to as Law N 402-FZ; accounting provisions), others are advisory in nature (Chart of accounts for financial and economic activities organizations, approved by 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 activities. In this case it is affirmed:

• 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 organizing 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 recorded separately in the contract, and then, in accordance with this moment, accounts receivable are reflected in accounting.

If the contract does not indicate the moment of transfer of ownership, it is considered to have occurred at the time of shipment of the goods by the seller, since the ownership right of the acquirer of the thing under the contract arises from the moment of its transfer, 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 facts of economic life are subject to registration with a primary accounting document at the time of the transaction (fact of economic life) or immediately upon its completion.

Based on clause 10 of the Regulations on accounting and financial reporting 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 Regulations on accounting), clause 5 of the Accounting Regulations "Accounting Policy of the Organization" PBU 1/2008 (approved by Order of the Ministry of Finance of Russia dated October 6, 2008 N 106n) for maintaining accounting records in an organization, an accounting policy is formed that involves the use, including for accounting of receivables, of the principle of temporary certainty of the facts of economic activity, according to which the facts of the organization’s economic activity relate to the reporting period in which they took place, regardless of the state of settlements for them.

Along with this, organizations can establish in the contract the moment of transfer of ownership, different from shipment, for example, at the moment of receipt of funds in payment for 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 agreement may provide that monetary obligations under the transaction are subject to payment in rubles in an amount equivalent to a certain amount in foreign currency or in conventional monetary units.

The procedure for assessing receivables is established by clause 6 of the Accounting Regulations “Income of the Organization” PBU 9/99 (approved by Order of the Ministry of Finance of Russia dated May 6, 1999 N 32n).

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

The deadline for collecting receivables (the statute of limitations) is set at three years (Article 196 of the Civil Code of the Russian Federation), after which the debt must be written off; The creditor has the right to provide in the contract for the presence of collateral for the shipped products, the subject of which can be any property, including things and property rights. If the buyer fails to fulfill his obligations, foreclosure may be applied to the pledged item in the manner established by the contract, unless the Pledge Law specifies a different procedure.

According to the Accounting Regulations “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 exchange rate differences on transactions 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 rate on the date of acceptance of these receivables for accounting in the reporting period. period or from the rate at the reporting date in which these receivables were last recalculated.

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

Termination of obligations is carried out in accordance with Chapter. 26 of the Civil Code of the Russian Federation, which provides for various grounds for terminating receivables under contracts. Repayment of receivables is carried out, as a rule, in the manner specified in the agreement containing all the essential terms.

If the buyer is late in paying his debt, the creditor must take measures to collect the receivables by sending a claim to the purchasing organization and then filing a statement of claim with the arbitration court.

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

The amount received in repayment of receivables, which does not cover it completely, is used, first of all, to repay the creditor’s costs for obtaining performance, then to cover interest, and the rest - 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 other delay in payment, the recipient of the products is subject to an obligation to pay interest, the amount of which is determined by the discount rate of bank interest on the day 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 its receivables to third parties.

According to clause 77 of the Accounting Regulations, accounts receivable for which the statute of limitations has expired, and other debts that are unrealistic for collection, are written off for each obligation based on the inventory carried out to the account of the reserve for doubtful debts or to the financial results of the organization.

Clause 11 of the Accounting Regulations “Expenses of the Organization” PBU 10/99 (approved by Order of the Ministry of Finance of Russia dated May 6, 1999 N 33n, hereinafter referred to as PBU 10/99) determines that other expenses include, in particular, amounts of receivables, written off after the expiration of the limitation period, and debts that are unrealistic for collection.

Organization of accounting of settlements with debtors

LLC "Art-postcard" is a commercial organization created to carry out business activities in order to make a profit, is a legal entity, carries out entrepreneurial activities, has separate property by right of ownership, has an independent balance sheet, bank accounts, a round seal containing its full name in Russian and an indication of the city in which it is located.

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

The main buyers of Art-Postcard LLC are large trading companies, including those that own a network of branches.

The main activity of Art-Postcard LLC is the wholesale trade 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 “postcards” product group.

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

Accounts receivable accounting

The main receivables in Art-postcard LLC are formed based on settlements with buyers and customers.

Art-postcard LLC enters into supply agreements with its customers. According to clause 2.4 of the standard supply contract, the moment of transfer of ownership of the goods is the moment of transfer of the goods by the supplier to the buyer or carrier.

This debt is accounted for on account 62 “Settlements with buyers and customers” using the following subaccounts: 1 “Settlements with buyers and customers (in rubles)”; 2 "Calculations for advances received (in rubles)."

Analytical accounting provides the ability to obtain data separately on the amounts of advances received; in addition, for each of the subaccounts, analytical accounting is maintained in the context of buyers and customers.

Thus, Art-postcard LLC shipped printing products to the buyer Center LLC under a supply agreement in the amount of 44,840 rubles. (including VAT - 6840 rubles). Funds from the buyer for the received products were transferred to the bank account of Art-Postcard LLC.

Reflection in the accounting of settlements with the buyer of LLC "Center" is presented in table. 1.

Table 1

Entries in accounting accounts for settlements with customers when payment is deferred

Thus, when shipping products to customers and presenting them with payment documents (delivery note, invoice), the accounting of Art-Postcard LLC reflects the formation of receivables in the amount of the cost of sold (shipped) products at sales prices, including VAT (allocated in the presented documents as a separate line) due to be received from buyers.

In case of prepayment, Art-postcard LLC issues and sends payment documents for the upcoming delivery to the buyer. The buyer makes payment, after which the goods are shipped.

Thus, Art-postcard LLC entered into an agreement with the buyer Kniga LLC for the supply of printing 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 bank account of Art-Postcard LLC. The next month (but in the same quarter), Art-Postcard LLC shipped the products to the buyer.

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

table 2

Entries in accounting accounts for settlements with customers on prepayment

In addition to accounts receivable for settlements with buyers and customers, the organization also has accounts receivable for settlements with suppliers and contractors.

According to the terms of the agreement concluded between organizations, settlements with suppliers and contractors are carried out after they have shipped goods, performed work or provided services, or at any other point in time. Accounts receivable according to these calculations are formed in the organization in the case of an advance payment to a supplier or contractor, as well as in the case of the return of previously shipped products, when the former buyer of Art-Postcard LLC becomes its supplier.

To account for settlements for received inventory items, work performed and services rendered, account 60 “Settlements with suppliers and contractors” is used with the following subaccounts: 1 “Settlements with suppliers and contractors (in rubles)”; 2 “Calculations for advances issued (in rubles)”; 5 "Calculations for 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 worth 8,850 rubles. (including VAT - 1350 rubles). According to the agreement with the supplier Samson LLC, the goods are shipped to the buyer 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 Samson LLC is presented in table. 3.

Table 3

Entries in accounting accounts for settlements with suppliers for advances received

If there is a counterclaim of the same type with the buyer, the term of which has come, Art-Postcard LLC offsets the debt.

Thus, the mutual debt of Art-Otkrytka LLC and TK Prazdnik LLC in the amount of 21,981.78 rubles (Table 4), which arose due to the latter returning part of the goods shipped but not paid for on time, was closed by offset.

Table 4

Entries in accounting accounts to reflect offsets

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

Accounting for settlements with accountable persons is kept on account 71 “Settlements with accountable persons”. In Art-Postcard LLC, subaccount 1 “Settlements with accountable persons (in rubles)” is opened to account 71.

The debit of account 71 records the amounts issued for reporting and to compensate for overexpenditure. Accounts receivable for accountable persons are registered from the moment they receive advance accountable amounts and are repaid upon full settlement of these amounts.

Analytical accounting for account 71 is carried out for each amount issued for reporting.

Thus, employee Ivanov was given 1,180 rubles on account. 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 provided an advance report to the accounting department.

Table 5

Entries in accounting accounts for settlements with accountable persons

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

Analytical accounting for subaccount 2 “Calculations for claims” is maintained for each debtor and individual claims.

Thus, for violation of the terms of payment for goods stipulated in the supply contract, Art-Postcard LLC charged the buyer Vector LLC a penalty in the amount specified in the contract - 35,400 rubles. (Table 6). A written notification was received from the buyer that the amount of this sanction was recognized, after which the amount of the penalty was transferred to the bank account of Art-Postcard LLC.

Table 6

Entries in accounting accounts when settling claims against customers

Thus, in case of delay in fulfillment by the buyer of the contractual obligations assumed to pay for the goods, Art-Postcard LLC sends a claim to the buyer, which sets out the fact of violation and contains a requirement to pay a penalty with reference to supporting documents (agreement, reconciliation report, payment documents, waybills).

In accordance with 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 (NDFL).

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

Table 7

Entries in accounting accounts for withholding personal income tax from employee salaries

In addition, receivables in an organization can be listed in the debit of accounts 68 and 69 “Calculations 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 calculations for social insurance and pensions , compulsory medical insurance for the organization's employees.

Procedure and reflection in accounting for writing off accounts receivable

Art-postcard LLC writes off receivables not only after the expiration of the statute of limitations, but also in the case when it becomes known that the debt is unrealistic for collection. Accounts receivable with an expired statute of limitations and other debts that are unrealistic for collection are written off in the organization for each obligation based on the inventory data, written justification and order of the manager.

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

Most often, Art-Postcard LLC writes off accounts receivable due to the expiration of the statute of limitations. The organization writes off expired debts in accounting and tax accounting. A loss from the write-off of uncollectible accounts receivable 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, Art-Otkrytka LLC recognizes the receivables as uncollectible and writes them off in the reporting period in which the debtor is excluded from the Unified State Register of Legal Entities.

An organization is not allowed to write off receivables as a bad debt if the creditor has a counterclaim of the same type (the statute of limitations for which has not expired) in an amount exceeding the receivables, since in this case the creditor has a real opportunity to repay the debt by offsetting mutual requirements, for which a statement from one party is sufficient.

A necessary condition for writing off accounts receivable with an expired statute of limitations and other debts that are unrealistic for collection is an inventory (clause 77 of the Accounting Regulations). The organization conducts an inventory of the debt of individual debtors in order to identify debts with an expired statute of limitations for their subsequent write-off. However, Art-Postcard LLC does not carry out an inventory of settlements with contractors before drawing up 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 accounts receivable, carried out as of September 1, 2012 on the basis of an order from the manager, it turned out that the organization’s balance sheet included accounts receivable from Kaleidoscope-TRK CJSC for a total amount of 825,876.77 rubles, arising under a supply agreement, including 168,476.58 rubles. - debt not confirmed by the debtor, RUB 657,400.19. - debt for which the statute of limitations has expired. The organization writes off unclaimed and unconfirmed receivables according to the order of the manager. No reserve for doubtful debts was created.

Reflection in the accounting of LLC "Art-postcard" of the write-off of receivables from the buyer of JSC "Kaleidoscope-TRK" is given in table. 8.

Table 8

Entries in accounting accounts for writing off accounts receivable

Since a reserve for doubtful debts is not created at Art-Postcard LLC, receivables for which the statute of limitations has expired cannot be written off against the specified reserve and are included in the 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. For tax accounting purposes there is no such requirement. The creation of a reserve must be stipulated in the accounting policies 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 reserve created 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 for the amount of the reserve created depending on the duration of the overdue debt.

How the amount of the reserve is calculated is not defined by accounting legislation, and the requirements for the size of the created reserve from the point of view of tax legislation are presented below:

• Over 90 days - Full amount of debt identified based on inventory
• From 45 to 90 days (inclusive) - 50% of the amount identified based on the debt 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.

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

Table 9

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

If the debt is nevertheless repaid, the accountant will restore the reserve in the amount of funds received (Table 10).

Table 10

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

Thus, losses from writing off accounts receivable are recognized both in accounting and tax accounting. The procedure for writing off accounts receivable and payable and forming a reserve for doubtful debts in accounting is regulated by the Regulations on accounting, 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 recording of accounts receivable is of utmost importance for the organization.

Information base and methodology for analyzing receivables

Analysis of accounts receivable is part of the overall policy of managing current assets, aimed at expanding the volume of sales of goods, and consists of optimizing the overall size of this debt and ensuring its timely repayment.

The main sources of information for analyzing accounts receivable are the data from the balance sheet and its explanations, as well as analytical accounting data.

Accounts receivable means the temporary diversion of funds from the organization’s turnover and their use in the turnover of other organizations. This temporarily reduces the solvency of the organization, i.e. leads to difficulty in fulfilling one's obligations.

The amount of accounts receivable is influenced by:

• total sales volume;
• the payment system adopted by the organization;
• payment discipline of buyers;
• receivables collection policy. The organization's active policy in relation to the collection of receivables makes it possible to reduce its balances and improve its quality;
• the state of accounting, regular inventory, the presence of an effective internal control system;
• the quality of accounts receivable analysis and consistency in the use of its results.

An increase or decrease in accounts receivable has a great influence on the turnover of capital invested in current assets, and consequently on the financial condition of the organization.

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

A decrease in accounts receivable is assessed positively if it occurs due to a reduction in its repayment period. If accounts receivable decrease due to a decrease in product shipments, then this indicates a decrease in the organization’s business activity.

In the process of analysis, it is necessary to study the dynamics, composition, reasons and prescription of the formation of receivables, to determine whether it contains amounts that are unrealistic for collection, or those for which the statute of limitations expires. If there are any, then it is necessary to urgently take measures to collect 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 as a whole and by item. Analysis of the level of receivables can be carried out using absolute and relative indicators, which need to be considered in dynamics. Quantitative analysis of receivables allows us to move on to the analysis of the qualitative state of receivables.

The qualitative condition of receivables characterizes the likelihood of receiving them in full. An indicator of this probability is the period of debt formation, as well as the share of overdue debt. In addition, a qualitative analysis of receivables allows us to determine the dynamics of overdue short-term and long-term receivables.

It is necessary to distinguish between justified and unjustified receivables: justified is debt for which the payment period has not yet arrived; all other debt is unjustified. The longer the deferment period, the higher the risk of non-payment of the invoice.

Particular attention should be paid to doubtful accounts receivable, 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 accounts receivable indicates a decrease in balance sheet liquidity, which worsens the financial condition of the organization.

Let's consider the indicators used to analyze the structure, quality, and turnover of receivables.

• Accounts receivable turnover ratio:

COB = Revenue / Average accounts receivable.

It shows how many times the accounts receivable turned over 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 provided.

• Average accounts receivable for the period:

DZsr = (DZn - DZk) / 2,

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

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

one turnover of accounts receivable:

DOB = DZsr x Number of days in the period / Revenue

DOB = Number of days in the period / KOB.

A reduction in the repayment period of receivables is assessed positively, and vice versa.

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

During the analysis process it is necessary to determine:

• receivables mobility ratio:

Kmob = Amount of accounts receivable / Amount of current assets.

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

• share of accounts receivable in the structure of the organization’s funds:

Ud. weight = Accounts receivable amount / Balance sheet currency;

• growth rate of accounts receivable:

Growth rate = DZotch / DZprosh,

where DZotch and DZprosh are 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 currency. If the growth rate of accounts receivable exceeds the growth rate of the balance sheet currency, this indicates a negative trend in the financial stability of the organization;

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

Ud. weight = Amount of overdue accounts receivable / Amount of accounts receivable.

Since accounts receivable is essentially free credit to customers, it should, whenever possible, be balanced by the same free credit from suppliers. Therefore, accounts receivable must be considered in conjunction with accounts payable. Ideally, there should not be large discrepancies between them, since accounts payable should be repaid through the receipt of receivables. The analysis of accounts receivable 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:

Ksootn = 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 to 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 accounts receivable, compare the pace of sales and debt, and also analyze the structure of debt. An increase in accounts receivable can be considered justified if it occurs as a result of sales volume, but the rate of its growth should not be greater than the rate of sales growth;

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

3) assessment of accounts receivable turnover.

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 calculation of receivables turnover indicators. It is important to calculate the share of receivables in the volume of current assets and the share of doubtful debts in accounts receivable.

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 condition, structure and movement of receivables;
• analysis of the state of receivables by age of formation, assessment of the share of overdue receivables;
• calculation of turnover indicators, the share of receivables in the total volume of current assets, assessment of the ratio of the growth rate of receivables with the rate of sales revenue;
• analysis of the ratio of receivables and payables.

To assess the composition, structure and dynamics of receivables of Art-Postcard LLC, an analytical table has been compiled (Table 11).

Table 11

Analysis of the composition, structure and dynamics of receivables

From the table 11 shows that Art-Postcard LLC has no long-term receivables; 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 buyer debts. Thus, in 2011, compared to 2010, the amount of accounts receivable from buyers increased by 1262 thousand rubles, or by 0.54%.

Advances issued 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. rub. (0.14% of the total).

In 2012, there was 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 the increase in buyer debts: in 2012, compared to 2011, the amount of buyer receivables increased by 83,261 thousand rubles, or by 35.68%.

Advances issued 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 equal to 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 total debt was 99.81%, at the end of 2011 - 99.69%, at the end of 2012 - 97.54%). The proportion of other components is insignificant. In connection with the above, it is necessary to pay special attention to accounts receivable formed in settlements with customers. To do this, you should 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, Udachnaya Pukupka LLC, Trading House Sbyt LLC. The debt of the remaining numerous buyers has a smaller specific weight in the total amount and combined in the column “Other buyers”.

So, according to data for the end of 2010 - 2012. The largest share in the total debt of buyers and customers is the debt of ZAO Optovik-M. Its accounts receivable 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 according to the period of formation (Table 13). Regular compilation of such a table allows you to present a clear picture of the status of settlements with debtors and identify overdue receivables.

Table 13

Analysis of accounts receivable from buyers by period of formation for 2012

Table data 13 show that the bulk of accounts receivable are debts within an interval of up to 30 days. Its share accounts for 35.03%, or 110,922.94 thousand rubles. of the entire amount of buyers' debt.

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

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

It is worth, for example, paying attention to the overdue receivables of the buyer of Opt-Service Company LLC, which amounts to 22,437.01 thousand rubles. (15,549.09 + 6887.92), for the debt of other buyers.

Since doubtful accounts receivable tend to become uncollectible over time, and bad accounts are subject to write-off and corresponding losses are recognized, early identification of doubtful accounts receivable can prevent the occurrence of large losses associated with late payment in the future.

As can be seen from table. 14, overdue accounts receivable tend to grow both in amount and in share in the total debt of customers. 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: promptly identify such debt and take all necessary measures to collect it.

Table 14

Share of overdue accounts receivable in customer debt

In the process of analyzing receivables, receivables turnover indicators are calculated and assessed, 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 repayment period of receivables and can be assessed positively.

Thus, in 2010, the duration of the receivables turnover 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 accounts receivable. Thus, the growth rate of accounts receivable in 2012 was 138.66% compared to 2011 and outstripped 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, amounting to 129.32%, was higher than the growth rate of accounts receivable - 99.59%.

Relative cash savings due to accelerating the turnover of accounts receivable in 2011 amounted to 66,619.78 thousand rubles, in 2012 - 12,638.58 thousand rubles.

The ratio of accounts receivable and accounts payable is given in table. 16.

Table 16

Analysis of receivables and payables

The ratio of receivables to payables in the organization exceeds 1, i.e. accounts receivable cover accounts payable. However, over the course of a number of years it has been less than the standard value of 2, which means that the conversion of the liquid part of current assets into cash is slowing down.

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

An analysis of the accounts receivable of Art-Postcard LLC allows us to draw the following conclusions:

• The bulk of accounts receivable are customer debts. In 2010, 2011, 2012 this share was 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. amounted to the debt of four main buyers: ZAO Optovik-M, LLC Opt-Service Company, LLC Successful Purchase, LLC Trading 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 accounts receivable is justified if it is accompanied by a corresponding increase in revenue;
• the share of overdue receivables in the organization is growing annually, which indicates a violation of payment discipline by buyers and inattention on the part of the organization to this group of buyers;
• advances issued 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 compared to 2010 by 31.63% and amounted to 227 thousand rubles;
• The duration of one receivables turnover has a positive downward trend. Thanks to the acceleration of accounts receivable turnover, the organization has observed relative savings, 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 organization’s potential ability to pay its creditors without attracting additional sources of financing.

Recommendations for effective accounts receivable management

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

To increase the effectiveness of control over receivables, it is necessary to approve internal regulations on the control and management of receivables, which should 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.

To manage accounts receivable more effectively, you need to:

• carry out preliminary work with potential debtors before shipment, including to determine 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 deferment, a system of penalties for late payment;
• conduct regular monitoring of the debt status, in particular analysis of the composition, structure, dynamics and turnover of receivables;
• regularly carry out reconciliations with counterparties to confirm the debt (this condition, as well as the procedure and frequency of reconciliations, can be specified in the contract). Carrying out regular reconciliations with customers is especially important for the organization due to the large assortment of goods, a large number of shipments, and the provision of deferred payment;
• strengthen control over the quality of receivables, i.e. when identifying overdue accounts receivable, which may develop into bad debt, promptly take measures for pre-trial and judicial settlement of such debt;
• establish a system for filing claims;
• control the ratio of accounts payable and 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 improving 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 receivables management policy aimed at reducing the duration of turnover, for example, to increase the number of contracts concluded on the terms of 100 % prepayment, reduce the deferment of 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 have a positive impact on the liquidity of the organization’s activities.

The main goal of accounts receivable management is to develop measures to improve the current or create 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 accounts receivable(accelerated transfer to other forms of the organization’s current assets: cash and highly liquid short-term securities).

One of the main forms of refinancing receivables, which can be recommended by Art-Postcard LLC, is the sale of debts (factoring).

Factoring(from the English factoring - “intermediary”) is an instrument for refinancing receivables, when using which this current asset turns into cash by providing financing to the supplier by the financial agent in exchange for the monetary claims assigned to its debtors.

In Russian legislation, 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 to the other party (client) funds against the client’s monetary claim ( creditor) to a third party (debtor), arising from the provision of goods (work, services) by the client 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 the supplier has to the buyers to whom the products were sold on deferred payment terms, 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 (a credit institution or a factor company).

The mechanism for implementing factoring 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 in a special account as compensation for the risk. Only after the debtors of the supplier have paid for the products supplied to them does the financial agent return the remaining amount minus the cost of factoring services.

Thus, the deferred payment turns into a delivery with immediate payment, which frees the supplier from additional costs associated with managing receivables.

Advantages factoring operations:

• for suppliers - acceleration of receivables turnover, reduction of costs associated with receivables management, improvement of financial condition, absence of collateral;
• for the buyer - the purchase of goods (works, services) on deferred payment terms, reducing the risk of purchasing low-quality products, increasing purchase volumes.

The advisability 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 late repayment of debts by debtors and 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 policy for managing this current asset, a company can use not only traditional, but also innovative methods and management tools, in particular factoring.

Flaws factoring operations:

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

In general, both the global and Russian factoring markets are in a growth stage, which indicates the demand for this service in dealing with accounts receivable.

Accounting accounts receivable refers to the total debt that is owed to an enterprise from individuals and legal entities. However, behind this definition, it still remains a mystery to many what accounts receivable is. Therefore, in this article I will try to give a broad vision of this category of accounting.

Concept and definition of accounts receivable

Nowadays, almost no enterprise operates without accounts receivable, because its formation occurs:

• for the debtor - due to the ability to use free additional fixed assets;
• for the lender - due to an increase in the sales market for services and goods.

The funds that form this debt from the organization are extracted from the economic turnover, which is not a plus in terms of the financial solvency of the enterprise. An increase in accounts receivable can lead an entity to financial collapse or bankruptcy (see also:). In this regard, accounting must ensure timely collection of those funds that constitute receivables.

Categories of receivables

The excess of accounts receivable over accounts payable is one of the conditions for the financial stability of an enterprise.

So, debit debt is the property claims of one enterprise to an individual or legal entity acting as its debtors. Thus, debt is part of the working capital of the enterprise.

Debtor. debt is conventionally divided into overdue and normal debt.

1. Normal receivables are the debts of agents for shipped goods, works and services for which payment has not yet arrived, but ownership has been transferred to the new owner; if an advance payment was made to suppliers, performers or contractors for the delivery of goods.
2. Overdue debt is called debt for work or services, goods, which was not paid within the agreed period.

Overdue debt is divided into doubtful and hopeless.

• Doubtful debt is every debt arising to the taxpayer, which arises due to the sale of goods, performance of work, when this debt is not repaid within the period established in the agreement, and is not secured by a pledge, bank guarantee or surety.
• After the end of the limitation period, the doubtful debt develops into a bad debt, which is unrealistic for collection. Such an unpleasant situation may arise as a result of the fact that the debtor was liquidated or became bankrupt, if the statute of limitations has expired and the debt has not been confirmed by the debtor, if there are funds in “problem accounts” in banks, and also if it is impossible to collect through legal bailiff - executor in accordance with a court decision in the amount of the debt (if the enterprise and its property are at the disposal of the operational management).

Based on the length of the repayment period of receivables, they are divided into groups:

• short-term (when debt repayment occurs within a year after the reporting date);
• long-term (when repayment will occur no earlier than a year after the reporting date)

Write-off of accounts receivable

In order to prevent distortion of accounting information, as well as to ensure the financial stability of the enterprise, it is necessary to collect the debt. First, the required amount is claimed through a claim, after which the collection of commercial debts is carried out through the court.

Each enterprise must monitor and analyze accounts receivable, record them, and then reconcile settlements. When the amount of partnership debts is discovered, it is presented to the debtor before claiming it. When, during the limitation period, the debt is not collected or the debtor is liquidated, the enterprise writes off this debt.

An enterprise may create a reserve of doubtful debts while waiting for the rehabilitation of the borrower's solvency. When a debt is written off at a loss to an enterprise due to the debtor's insolvency, the debt itself is not annulled. This debt should remain on the balance sheet for another five years from the date of its write-off in order to monitor the likelihood of its collection in case the economic situation of the debtor changes.

The debit debt must be inventoried. As a result of the inventory, doubtful accounts receivable and debts that are unrealistic to be collected are identified, as well as overdue accounts receivable and the limitation period for each obligation.

Initially, in order to determine the position of the receivables, it is necessary to assess the level and composition of the company’s receivables, plus the effectiveness of the financial resources invested in it.

It is necessary to assess the degree of debt, as well as the dynamics of its changes in the previous period. This assessment will be made possible by the coefficient of diversion of fixed assets towards debt indebtedness using the formula:

To deb. ass = Accounts receivable/fixed assets

The formula means that the lower this ratio is, the higher the financial stability of the enterprise.

The following indicators are used in the assessment: coefficient of overdue debt:

Overdue debt ratio = overdue debt debit/deb. debt

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This coefficient serves to characterize the quality of debt, and its value shows a decrease in the liquidity of the enterprise, as well as an increase in risks.

Each enterprise, regardless of its form of ownership, keeps records of its own income and expenses. This is important both for huge companies that occupy leading positions in the market, and for entrepreneurs organizing their own small businesses. At the end of the next reporting period, they have to analyze the results obtained from the work performed. But to carry out these final operations, it is necessary to clearly understand how the enterprise lives, what sources it relies on and how it uses existing assets. It is the company’s assets, in particular, accounts receivable, that will be discussed in this publication.

The concept of accounts receivable

Beginning entrepreneurs often do not understand the meaning of this expression, and especially the fact that the debt of debtors is classified as assets, i.e., the property of the company. The explanation here is simple: accounts receivable are debts owed to a company from individuals or legal entities for exported goods, services or other work performed but not yet paid for.

Accounts receivable on the balance sheet are part of the company's property, i.e. an asset.

In other words, the meaning of this balance sheet line for the company can be formulated with the phrase “We are owed.” At a certain time, these debts are repaid, turning into cash, and increase the amount of money in the company's cash register or in its bank account. Hence the conclusion: accounts receivable on the balance sheet are part of the company's property, i.e. an asset.

How debt is formed

Not a single enterprise can do without the occurrence of such debt, since this is always explained by production necessity: it is profitable for one company to offer its own goods and transfer it, deferring payment, for another - to receive it with the possibility of payment in installments. This is where mutual interest arises:

• the debtor company is given a temporary opportunity to use someone else’s working capital (purchased but not yet paid for goods);
• The lending company takes advantage of the chance to expand the market for the supply of goods and search for potential buyers.

The structure of accounts receivable also includes the amounts of advances paid to supplier companies as an advance payment for services/goods purchased in the future.

Please note that such transactions must be formalized by drawing up contracts that stipulate the terms and conditions of delivery or acceptance of services, as well as dates and methods of payment. Having explained what accounts receivable is in simple terms, let’s move on and look at how it affects the life of a company.

Since such debts are formed from funds that are diverted from the business turnover of the company, it is necessary to control their growth, ensuring timely collection in accordance with concluded agreements. After all, it is impossible to allow a situation in which debtor enterprises suddenly refuse their obligations and do not pay for or return exported goods. That is why the element of control is extremely important when concluding an agreement and ensuring compliance with its terms by both parties.

Not only contracts for the supply of manufactured products can be the cause of accounts receivable. It can be increased, for example, by the amount of overpaid taxes to the budget or extra-budgetary funds, which will be written off by subsequent transfers of payments.

Another position that is reflected in an increase in the amount of debt is the debts of the enterprise’s personnel for amounts issued on account or for overpaid salaries. Enterprises practice issuing money on account for economic needs to financially responsible persons.

Eg, the storekeeper receives cash to purchase office supplies or purchase technical literature. The amount issued is reflected in the structure of accounts receivable and is repaid only when the employee reports on the costs incurred, listing them in the advance report and attaching to it all documents confirming the fact of acquisitions.

Types of accounts receivable

What are the types of accounts receivable?

Debt is divided into normal and overdue. The normal category of debts includes:

• for goods/services for which the final payment deadlines have not yet arrived;
• in the form of an advance payment for goods/work transferred by the enterprise on a contractual basis;
• employees who received cash for business needs or business trips, but the deadline for reporting on expenses has not yet arrived.

Overdue receivables are debts:

• for goods/services for which payment was not received by the company within the terms specified in the agreement;
• for issued accountable amounts, if the employee did not report on expenses incurred without submitting an advance report.

The overwhelming majority of overdue debt consists of settlements with counterparties, so we will leave proceedings with accountable persons to the accounting staff, who usually strictly control the financial activities of the company.

Overdue debt is classified into dubious and hopeless. According to Russian law, a debt is considered doubtful if it is not paid within the terms specified in the agreement and is not secured, for example, by a pledge or surety. This is how the Tax Code of the Russian Federation interprets it.

In other words, unpaid obligations raise doubts depending on the business reputation and solvency of the counterparty: a permanent, trusted partner may experience temporary financial difficulties and explain delays in payment, and it is unknown how a client who has not paid for supplies under the first concluded agreement will behave.

Such a doubtful debt becomes a bad debt, i.e., impossible to collect, when the legally established deadlines for filing claims for its collection expire. According to the Civil Code of the Russian Federation, the limitation period corresponds to a three-year period.

There are several factors that trigger the occurrence of bad debts. This:

• liquidation of the debtor company;
• bankruptcy of an enterprise;
• expiration of the limitation period;
• the unreality of recovery even by court decision (for example, the organization comes under operational management, although, as a rule, such measures are taken during the bankruptcy procedure);
• the presence of funds in the debtor’s account in a bank that is deprived of the opportunity to continue banking activities. It is well known that, at the initiative of the Central Bank of the Russian Federation, dozens of banks are subject to a similar ban, so this factor will have to be taken into account.

If this situation arises, there are two options:

• If the Arbitration Court makes a decision to liquidate the bank, and there is no cash to repay the company’s debt, then such debt is recognized as bad and written off as losses. Note that this decision is made on the basis of documents provided by the debtor - court orders, information confirming the lack of funds, etc.;
• If the court makes a decision to restructure the bank, then the enterprise has the right to create a reserve for doubtful debts and wait for the situation in the bank and the debtor company to improve.

Accounts receivable using the example of municipalities of the Moscow region

Let us repeat that in the pursuit of conquering new markets and expanding activities, one should not forget about the usual caution and enter into contracts for the supply of goods or services (especially for impressive amounts) with companies that have proven themselves to be solvent partners with a well-known business reputation.

Note that organizations use all possible tools to pay off overdue debts. For example, they provide deferred/instalment payments, conduct barter settlements, use shares and bills.

Reflection of debt on the balance sheet

The financial report takes into account two categories of accounts receivable:

• short-term, payment of which is planned within a year. This is the predominant group, since it is extremely rare to offer deferments for more than a year;
• long-term, i.e. the expected payment terms of which exceed 12 months.

This division is used in economic calculations when summing up the company’s performance, determining the liquidity, credit and solvency of the company. We will not delve into economic categories; we will only note that the accounts receivable of an enterprise is an important component in the financial and production life of a company, affecting the final result of work and representing a part of the property, the dynamics of which requires the necessary control.

Entrepreneurial activity requires direct interaction with a wide range of people, which includes suppliers, banks, buyers and others. All of them are called counterparties, that is, those agents who have a direct impact on the organization. The position of his company in the market and competitiveness depend on how competently an entrepreneur works with counterparties. Counterparties are divided into debtors and creditors. Counterparties are one of the parties to a contract in civil law relations.

And also, to make it easier to keep track of funds, similar concepts of “debit” and “credit” were introduced. Thanks to these concepts, the account is divided into two halves: debit is income, and expense is credit, the left and right columns of the account, respectively.

Who is a debtor?

Accounts receivable are included in the financial statements and are recorded in account 62 “Settlements with buyers and customers” and 76 “Settlements with various debtors and creditors”. It is quite dynamic and depends on the company’s interaction with clients and partners. We can say that it is this type of debt that forms the company’s profit. At the same time, it is also a source of formation of the organization’s own capital.

What is accounts payable

The creditor is the one to whom debt is owed. In other words, accounts payable is a type of debt that arises on a contractual basis. For example, a company purchases components for its own production. The cost of components is accounts payable. However, the debt does not include the costs of delivery and packaging of goods. Today there are two types:

• A debt for goods that must be repaid within a certain period of time;
• Debt for services and goods, the term of which has already expired;
• Debts paid to extra-budgetary funds;
• Wages owed to own staff.

Accounting is carried out according to accounts corresponding to a certain type of accounts payable. This type of debt is reflected in the financial statements. Thus, accounts payable represent not only overdue payments, but also the organization's current obligations to its creditors, which have not yet expired. An organization can write off its debt if it is repaid, or if the creditor does not consider it necessary to collect it in a timely manner. The statute of limitations for a loan according to the law in Russia is 3 years (for Russian counterparties). Thus, accounts payable are the company’s obligations that must be repaid within a specific time frame. This column actually assumes the organization’s main expenses for its activities.

Types of accounts receivable

Accounts receivable are divided into two types:

• standard (or regular);
• expired (or unjustified).

The standard type of receivables includes the issuance of a loan (drawing out an agreement with a certain amount) for a specific period. Such debt is strictly planned and must be repaid before a specific date. As soon as the validity period expires, the debt becomes overdue. By violating the terms of the contract, the debtor company receives fines and penalties. To reduce the risk of unjustified debt, the creditor organization must:

• analyze reports in a timely manner;
• look for ways to effectively work with debtors: automate the process, carry out restructuring, work only with recommended, reliable contractors;
• assign the right to claim debts under an assignment agreement with assignment of rights.

Thus, regardless of the type of receivable, work with counterparties in this direction should be carried out constantly, since this type of debt is the key to the success of any organization.

How to write off accounts receivable?

Today, legislation gives organizations the right to write off overdue receivables only in the following cases:

• the statute of limitations of 3 years has expired;
• there is a decision that it is impossible to collect such debt;
• if the debtor company is liquidated.

At the same time, the Tax Code establishes that “receivables” can be written off as non-operating expenses, with the creation of a reserve for doubtful debts, if they are hopeless.

If the debt is written off at a loss, then such debt is legally canceled and does not reduce the tax base for income tax. This, of course, entails additional losses for the company. To write off debt, it is necessary to draw up an inventory report of receivables, as well as justification and an order from the head of the enterprise. It is possible to write off a debtor before the debtor is liquidated. Any liquidation process begins with a protracted bankruptcy procedure.

During this procedure, bankruptcy trustees hold meetings of creditors, at which the main financial claims against the debtor are stated. At the same time, after the confiscation and sale of property, the funds are returned to the creditor company in order of priority. The legislation gives the right to completely write off the “debt” when receiving a debt during this period. Non-overdue receivables are written off when the debtor repays the invoice. Thus, handling accounts receivable and payable is important for the well-being of the company. To do this, it is necessary to conduct constant financial monitoring and carefully select counterparties for work.