In the modern world a special place in the managementany company takes all sorts of accounting articles. The material presented below considers in detail the debt obligations under the name "receivables and payables". This is one of the most relevant articles responsible for the observance of financial agreements between the two organizations, since even the minimal non-compliance with its part of the agreement immediately affects the ratio of receivables and payables for each of the legal entities under review.

Debentures
The economic and financial circulationthe activity of any modern enterprise is the reason that accounts receivable and payable arise. This may be funds received from payments for any material values, provided services; as well as released and sold products in the form of various goods, etc. All the above positions are reflected in the accounting records. Thus, receivables and payables are the debt obligations of other organizations to the enterprise in question. Let us consider in more detail each of these concepts in order to more fully understand the difference between them.

Creditor liabilities
Данный термин представляет всевозможные долги specific enterprise in question before other legal entities or cooperating individuals, individual entrepreneurs and other related services. Consequently, the organization’s debts to the suppliers of raw materials or finished products, which will later be involved in the main production process, can be safely attributed to the category described above; in front of contractors - for the services and works provided by them; in front of their own employees (wages for their work for the benefit of the enterprise). In addition, this accounting item includes various payments to extrabudgetary and budgetary funds.

Accounts payable impliesare obligations that arise gradually and continuously as the formation and further development of the economic activity of the enterprise in question. One of the first debts can be considered debts to the founders. They appear at the time of the creation of share capital. Subsequently, there are all sorts of obligations to various banking institutions. It is believed that debts to suppliers are formed after them, since it is they who provide all the necessary materials to get started. The fourth in this list are tax deductions based on performance.
Receivables
Данное понятие подразумевает под собой все obligations of any institutions that represent legal entities, as well as individuals acting as individuals, to the enterprise in question. In this case, the debtors are called debtors. Debts of accountable representatives for the money given to them are traditionally referred to this category; obligations of customers and buyers of finished products or services provided; loan repayments and much more. It is quite natural when the ratio of receivables and payables leans in our favor. It is in human psychology that it is much more pleasant to receive finances from someone than to donate your money to anyone. However, in any case, you should not completely rely on the amounts to be returned, because if they are not delivered on time, there is a risk that the company will incur losses. Consequently, it is up to the accounting department to enforce strict accounting for all obligations. This means that it is necessary to control the term of accounts payable and payment of receivables.
Turnover Period

Зачастую финансовые расчеты требуют нахождения the above value for the further successful operation of the enterprise. All the necessary data for this can be obtained from the periodically compiled balance sheet. Thus, the turnover of receivables and payables is subject to planning and subsequent monitoring. The higher this indicator, the greater the positive dynamics takes place. Turnover is characterized by indicators of liquidity and quality. They illustrate the speed of the process in question, from which the funds received will turn into cash.
Main factors
Assessment of accounts receivable and payablecarried out using turnover ratios. They are calculated as the ratio of the amount of revenue received to the average value of liabilities. In addition, the presented indicator can be calculated in days. In this case, it will characterize the period for which the funds in question make their circuit. Thus, receivables and payables are integral parts of accounting.

Receivables turnover ratio
This indicator is calculated based onthe following data: revenue from goods and services sold, the average debt. To find the desired ratio, you only need to divide the first value by the second. Through such calculations, you can find out the number of times of formation and replenishment of obligations for the study period.
Payables turnover ratio
Конечно же, дебиторская и кредиторская Enterprise debt should be considered in aggregate. This will allow you to track and take timely measures to improve the circumstances. An unfavorable situation is the one in which the ratio of accounts payable turnover will significantly exceed the receivables.

Property inventory
Inventory receivables and payablesdebt is necessary primarily to verify the truth of the values listed on the bank accounts of the company. For this, one should carefully compare the data on his own accounting with the values obtained from the so-called counterparties. Subsequently, an act of reconciliation of previously made calculations is drawn up, which is then sent for approval and signing to the appropriate authorities. It is important to pay attention to the fact that the above documents are not the primary point from which the inventory of receivables and payables begins, but are used only to confirm the commission of any economic activity. Indeed, during the course of the process in question, the financial condition of either party is not subject to any changes. The signing of the act of reconciliation only indicates that the counterparty recognizes the existence of debt between you.

Performance of the events
Both the dates and the procedure forthe inventory is established by the managers of each enterprise; therefore, for different organizations these procedures may have some differences. The so-called "control tip" issued an order that describes all the required actions and periods. Of course, this has nothing to do with the registration of the mandatory inventory, conducted at the end of the year. The result of such activities allows you to achieve many goals. Here are some of them:
1) clarification of accounts receivable for products sold, but not yet paid for (products or services);
2) the adjustment of payables for the above items;
3) determination of the limitation period for each individual counterparty, and it is necessary to consider all contracts and agreements concluded between the parties represented;
4) identification of balances of other payables and receivables regarding the specific date of the property inventory.