Under receivables it is accepted to understandthe amount of debts that an enterprise or individuals must pay to an enterprise as a result of economic relations on a contractual basis. Accounts receivable may appear in the process of concluding transactions that involve installment or sale of goods, provision of services on credit.
Practice repeatedly confirms thatToday, none of the entities with the formation of a legal entity is functioning without accounts receivable, since its occurrence is easy to explain by real reasons:
• if we consider this issue from the sideorganization of the debtor - the existence of receivables contributes to attracting additional capital, while the company's current assets remain intact;
• from the point of view of the creditor enterprise, accounts receivable significantly expands the market of work, the sale of goods and the provision of services.
Funds that include a receivableindebtedness of the enterprise, are withdrawn from the economic turnover of the organization, which, of course, can not be attributed to the advantages of its financial activity. During the period of economic activity, a sharp increase in debt should not be allowed, since in practice the cases of the collapse of economic entities have been repeatedly revealed, therefore, the accounting department of the enterprise has a great responsibility for controlling the receivables. To ensure the sustainable state of the enterprise, one important point must be taken into consideration: accounts receivable must exceed the amount of accounts payable by the amount.
Regardless of whether short-term orlong-term receivables, overdue or real, possible to recover or hopeless, most importantly, it must be properly accounted for and written off so that the tax inspectorate does not raise any questions.
Receivables appear afterthe conclusion of a loan agreement for the provision of services, works, sales of products, goods in the accounting of the supplier. But it does not exclude the moment of the transfer of receivables into overdue, as well as the situation when the buyer can not pay for its obligations in full.
In the company account the amount of debtreflected in the asset balance on a certain date until such time as the buyer is not fully calculated on it. In the event that the payment is not credited to the company’s account, for example, due to the liquidation of the buyer’s company, the debt may become uncollectible, which may lead to the need to write it off. In addition, it is necessary to do this no later than a certain date and with documentary evidence.
In order to assign a doubtful debt to uncollectible and in the future to write it off as non-operating expenses, one thing should be taken into account:
• limitation period - based oncivil law is three years. In the case when the term in the contract is not registered, the countdown starts from the time of filing a claim for execution to the borrower and is seven days: article 314 of the Civil Code of the Russian Federation.
Accounts receivable, on which the limitation period has already passed, are written off on the basis of data obtained as a result of the inventory, order and written substantiation of the head of the enterprise.
In the event that the storage period of the documents is alreadyhas expired, it is not recommended to destroy them, since in the absence of documentary evidence during the tax audit, the written-off bad debts will be excluded from expenses and will be charged with additional penalties and taxes.
