Why are accounts payable formed? What is accounts payable in simple terms?

In the general sense of the word, such an obligation is a debt of an enterprise for the provision of services or provision of goods to other enterprises or entities. Debt to creditors arises when goods are delivered or services are provided, but payment for them is not made. Large accounts payable in our country is criminally punishable. Punishments can be both administrative and criminal in nature and are regulated by the legislation of our country. The opposite concept of accounts payable is accounts receivable. You can avoid accounts payable through stable and constant payment of the organization’s bills. The lender himself and other factors also play a big role here, so you can find out how to get a loan correctly on the website http://kreditorpro.ru/.

Types of accounts payable

In the balance sheet you can find several items that are devoted to accounts payable. Its main types are the following:

• to suppliers for products and services;
• to employees for non-payment or delay of wages;
• before the tax office, related to all kinds of taxes and fees in the organization;
• to banking organizations and other extra-budgetary funds;
• to other persons not described above.

Also, accounts payable very often include debt to the founders of an organization, for example, for failure to pay dividends on time.

Thus, we can conclude that debt to creditors is the company’s outstanding obligations to other business entities that provided this organization with certain types of services or sold goods. The most common type of accounts payable is obligations to suppliers and contractors, in other words, for materials provided on credit, without which the enterprise cannot function.

How to manage debt

To prevent obligations to creditors from developing into a problem for the enterprise, it must be learned to manage. This can be done using several steps:

1. Assess the types of accounts payable for an enterprise and their impact on the financial stability of the organization. This is done using a balance sheet.
2. Calculation of coefficients;
3. Measures to reduce creditor debt.

The analysis and regulation of accounts payable at the enterprise should be carried out by an accountant. Accordingly, it is very important that the accountant at your company has the necessary qualifications and experience in dealing with debts.

In conclusion, it should be noted that the fewer obligations an enterprise has to creditors, the more stable it is considered. From this we can conclude that a high creditor ratio of an enterprise adversely affects the financial stability of the organization, and also negatively affects its solvency and liquidity. To assess the volume of credit obligations, there are special coefficients that can be used to determine the level of such debt. Also, many banks and investors, when studying the financial performance of an enterprise, pay attention specifically to accounts payable.

In the modern economic world, organizations must correctly assess their financial capabilities and be able to calculate not only profits, but also debts. That is why accounts payable is a relevant topic and allows you to realistically assess the capabilities of an enterprise. Knowing how to manage it correctly, write off debts, and also effectively analyze and draw conclusions, you can achieve good results in business.

Accounts payable - what is it?

So let's understand the terms. Accounts payable is the debt of any entity, be it an individual or an entire company, to creditors. It is important to make a reservation here that the subject must repay his debt, otherwise especially malicious delays will be punished by the court.

By the way, such debt appears when the date of receipt of goods or services does not coincide with the date when the goods should be paid for. Speaking about the responsibility that will inevitably overtake the subject in case of non-payment of debts, it is regulated by Art. 177.

But what is accounts payable in simple words? Simply put, this is money that the company owes from creditors, but was unable to pay at a strictly defined time.

Types of accounts payable

Speaking about the composition of accounts payable, you need to understand that it is determined by the absolute amounts of each type of debt. Well, if we talk about the structure of debt, then the main thing here will be the relative weights of individual types of debt.

So, let's talk about what exactly characterizes accounts payable and what classifications it can be divided into. This:

1. The initial debt the company has to organizations providing services, as well as organizations supplying goods. Debt can arise for material assets received but not returned in cash equivalent.
2. Debt accrued to the company to the organization's personnel. That is, the company has debts directly to the company’s employees.
3. Debt incurred by the entity to extra-budgetary state funds. That is, it arises from contributions for compulsory insurance, from insurance payments, and so on.
4. The subject owes the budget. That is, they did not make the necessary payments to the budget on time.
5. Debt on advances. That is, there is a debt for advances that were received by the enterprise for the upcoming delivery of certain services or goods.
6. Debt owed to other creditors. Many items fit here, from debts on accrued fines to debts to accountable persons.

By the way, this term can be classified in another way. In particular, accounts payable may be urgent or, conversely, non-urgent. Here it is worth explaining in more detail what this classification depends on. If we are talking, for example, about advances that were previously received from buyers, then they can be called non-urgent, since they do not lead to fines accrued daily for late payments. As a result, repayment of such accounts payable may wait a little until “happier times.” If, on the contrary, we are talking about the creditor as the budget, banks, various funds, then such loans can be called urgent, and such debts must be repaid first.

In what cases can a company get into a “debt hole”? There are two options here:

• in the event that the company does not fulfill its obligations on time, constantly delaying payments.
• if the debt appears due to the existing payment system, that is, the period allocated for payment does not coincide with the period when the payment was accrued.

In order to analyze accounts payable in more depth, it makes sense to consider the balance that you have at the end of the month. Find out exactly which payments were not repaid on time and why this happened. This will help you analyze the situation and “make ends meet” next month.

Debt management

To more effectively manage the company's accounts payable, their best structure in a given situation and for a particular organization should be determined. How to do it:

1. To begin with, we draw up a debt budget, analyze and implement the coefficients and accept them as planned.
2. We analyze what we got and compare it with the plan, and then determine where the deviations from the norm came from. Based on the results of the analysis, we draw conclusions and, possibly, discuss with creditors new deadlines within which you would have time to pay your debts.
3. Next, based on the analyzed actions, you need to develop a plan that will help you cope with your debts. Again, this will help you cope with the “debt hole” and quickly repay all debts to creditors that you have accumulated over the current period.

Don't forget about the strategic approach. Thus, in order for relations with existing creditors to correspond to the security of the enterprise, as well as its competitiveness and profitability, it is necessary to develop a strategic line, thanks to which new capital will be attracted to the company and effectively used.

How to account for debt

Unfortunately, when carrying out business activities, any company, as a rule, has at least a small misfire in front of its creditors. Of course, if you have certain funds and manage to quickly pay your counterparties, then no problems will arise. The topic will be closed as soon as the debt is paid off. However, how can you write off a company’s accounts payable if at the moment you do not have enough funds to pay it off?

To begin with, we can define debt as the debt of one company to another company for the purchase of various goods or services. This type of debt must be accounted for either until the date it is written off or before the debt is repaid.

Amortization

Only when the organization pays off all its debts will the long-awaited debt write-off occur. What does this look like in practice? You can either pay your debt by transferring funds to the creditor's account, or your debt will be offset against the debt the creditor has to you. By the way, funds can be transferred either to the supplier himself or to another person with the consent of the supplier. But here it is important that the recipient is authorized by the supplier to accept the transferred money, which they can inform you about personally or send information via letter. When your funds are transferred to the “intermediary” account, the obligation can be considered fulfilled.

However, if you are currently unable to pay the debt, in some cases you may have the right to have it written off. But there must be certain reasons specified in the law:

1. If the limitation period has expired, which is three years from the moment it arose. In most cases this is done through the court.
2. For other reasons established by law.

Debt write-off

Let's take a closer look at such a concept as debt write-off. What do you mean by this? And by this they mean transaction through which income is recognized and debt is eliminated from outstanding. Since in this case we are talking specifically about the recognition of income, the operation will be recognized in tax and accounting only if the following rules are observed:

• documentary evidence has been provided indicating the recognition of income;
• the amount that is meant by income is correctly calculated;
• the date on which the income was recognized was calculated correctly.

Unfortunately, in order for the debt to actually be written off, strong-willed desire alone is often not enough. To do this, you must follow certain criteria to recognize income. If we talk about tax accounting, then the norms of the Tax Code should be taken into account. If we talk about accounting, then we are guided by the norms of P(S)BU 15. In order for the debt to be written off, it is necessary that the debt has hopeless status.

So, what kind of debt can be called bad debt? Here the norms of the NKU should be taken into account. This:

1. First of all, the limitation period is taken into account. If three years have already passed since taking out the loan, then the debt can be considered bad.
2. Debt can also be called bad debt, when it comes to mortgaged property.
3. Sometimes a debt is considered uncollectible if it cannot be collected due to situations beyond the ordinary - for example, these could be force majeure situations characterized by a natural disaster (tsunami, earthquake, etc.).

That is, if we are not talking about force majeure circumstances or about pledged property, then in another way the debt can be called hopeless only if its statute of limitations has passed.

Borrowed capital

1. If you need borrowed funds, then such capital will be an excellent (and completely free) source of borrowed money. Thanks to it, you can not only increase the borrowed portion of funds, but also improve the overall financial condition of the company.
2. The amount of borrowed capital directly affects the duration of the financial cycle and affects the amount of money needed to finance current assets. The larger the amount of accounts payable, the less the organization needs to raise funds from outside in order to finance its activities.
3. The state of debt largely depends on the financial condition of the company. This takes into account trade turnover and the quantity of goods sold and purchased. If these factors increase, the company's costs accrued on accounts payable also increase, which inevitably leads to an increase in all debt, and vice versa. Conclusion: as trade turnover increases, so does the debt.
4. How much debt you have will depend on how often you repay the borrowed funds to creditors. This frequency of payments is regulated by the terms of contracts with partners, regulations from the state and only to a small extent - by the internal standards of the organization.

A constant increase in debt without periodic repayment leads to increasing accounts payable, which is undesirable for the organization. In addition, it spoils its overall financial condition and market value.

If we talk about the amount of debt, then the following points influence it:

1. Total number of purchases and share allocated for purchase on terms that require subsequent payment, as well as the conditions that were agreed upon in the agreement with counterparties.
2. Contractual obligations on which the company relies with those who provide them with services or supplies goods. It also takes into account how saturated the market is today with the supplied products.
3. Debt will also be influenced by the policy that is used to repay the debt, as well as how well the debt is analyzed and what is ultimately done with the results obtained. In addition, the payment system used by the organization is also taken into account. You should analyze your debts and draw the right conclusions.

When a company stops paying in cash and starts using non-cash payments, the quality of debt and overall turnover creep up, while the amount of debt creeps down. As a result, the company becomes more financially stronger, solvent and resistant to financial “jumps”. As for the debt, it can be terminated by the fulfillment of obligations or simply written off due to financial lack of demand.

In simple words, accounts payable is our debt to counterparties. If you do not control the creditor, the company faces bankruptcy.

Every company has accounts payable. After all, payments almost never happen on the same day: employees do not receive their salaries on the last day of the month, suppliers enter into an agreement with the condition of prepayment, and buyers, on the contrary, pay in advance. So accounts payable is when we owe it or to us?

The easiest way to remember what accounts payable is is by associating it with the word “credit.” Everyone knows that a loan is when we owe it. Accounts payable are also our debts to someone.

Definition of accounts payable

Let's give another definition of a creditor - this is the amount that various companies, employees and other counterparties owe the organization. It is a source of working capital formation. That is, the occurrence of accounts payable is associated with the moment when one party fulfilled its obligations towards the company, but the organization itself did not. For example, a company has received goods from a supplier, but has not yet paid for it. The company has a debt to its counterparty. This is the creditor. That is, the essence of accounts payable is the company’s debt to someone.

Accounts payable of the organization

Here are the most common examples of accounts payable that arise for an enterprise.

• the company has accrued salaries to employees, but has not yet paid them;
• the contractor has received an advance payment from the customer, but has not yet completed the work;
• the buyer received the goods from the supplier, but has not yet paid for it;
• the company entered into a loan agreement and has not yet paid off the entire debt;
• the taxpayer has assessed taxes, but has not yet issued a payment order to transfer money to the budget;
• the employee bought materials with his own money, and now the company must compensate him for expenses, etc.

Accounts payable of individuals

Accounts payable can arise not only among organizations. Individuals can also have debts. We wrote above about the most common accounts payable of individuals - this is a loan. But physicists may owe money to the store if they bought the goods in installments, or to the company if they signed a loan agreement with it. Yes, and employees sometimes owe their employers. For example, if they received an advance, but also .

Types of accounts payable

There are several types of accounts payable. Let's look at each of them.

Type of creditor depending on the repayment period

1. short-term are debts that the company will repay within the next 12 months. Such debts are also called current;
2. long-term - these are debts whose repayment period is more than a year. 12 months begin to be counted from the day when the debt arose - the counterparty shipped the products, performed the work, made an advance payment, etc.

Types of creditor depending on repayment status

1. the main one is the debts that the company plans to repay;
2. hopeless - a creditor whose statute of limitations has expired, or the creditor is not in the Unified State Register of Legal Entities, or he has forgiven the debt. For example, if the parties entered into a settlement agreement, by virtue of which the creditor partially waived the demands for collection of the principal debt and penalty. That is, in essence, he forgave part of the debt and the penalty to which he was entitled under the terms of the contract. Such debt must be included in non-operating income.

Obligations to the creditor

The accountant accounts for the creditor in different accounting accounts. This is due to the reason for the debt:

• for materials shipped;
• on received advance or prepayment;
• on employee salaries;
• on taxes and fees;
• on insurance premiums;
• on transfer of assets to dependent companies, etc.

Each reason has its own account. Thus, tax debts can be determined by analyzing account 68, and contributions - 69. It is not necessary that the company has every type of such debt. For example, if all contracts with buyers were concluded on a post-payment basis, then there will be no debts on advance payments.

Accounts payable turnover

Like any financial indicator, the size of the creditor is analyzed. To do this, calculate the turnover period of accounts payable. It is equal to the ratio of the average creditor multiplied by the number of days in the billing period to the cost of products sold.

Turnover in days shows the lending period, that is, the average duration of deferred payments. The longer the duration of the accounts payable turnover, the more actively the company uses the funds of its partners.

The formula for calculating the accounts payable period looks like this

Decoding the values ​​for the formula:

• T - period of turnover of accounts payable;
• KZsr - average accounts payable for the billing period;
• D - number of days in the billing period;
• С/С - cost of goods sold for the billing period.

The average creditor can be calculated by adding these indicators at the beginning and end of the billing period and dividing by 2. Data for calculating the duration of the creditor's turnover can be taken from the financial statements. Look at the amount of debts in the balance sheet. Cost - in the income statement. If the company calculates the indicator for the year, then the number of days is 365.

Accounts payable management

If you do not control the size of the creditor, the company may face problems. Moreover, things may even go as far as bankruptcy. Competent work with the creditor will allow you to organize work so that the company can repay debts on time and at the same time respect its financial interests - that is, receive free credit at the expense of suppliers.

To effectively manage accounts payable, you must:

• identify the optimal structure of the lender;
• draw up a budget for accounts payable and ensure that it is executed;
• determine which indicators and coefficients need to be calculated and approve their optimal values ​​and limits of fluctuations.

Management of an enterprise's accounts payable is possible using the following ratios:

• creditor turnover;
• repayment period (turnover) of the creditor;
• the company's dependence on its lender;
• self-financing;
• lender's profitability.

In the process of managing accounts payable, indicators are analyzed over time. The most important thing is to trace the dynamics between the creditor and the debtor. It’s good when short-term receivables completely cover the creditor.

The main task of management is to establish the priority and order of payments. The first step is to reduce the debt or, more simply put, to pay off the debts of suppliers that are associated with the needs for production and sales. After all, if counterparties stop shipping goods or providing services, the company will not be able to operate. To do this, it is important to timely analyze the terms of contracts with counterparties and, if necessary, change them.

The company must maintain the optimal size of the creditor. A decrease in accounts payable indicates that the organization has stopped using money from counterparties. That is, a free loan provided by partners. This does not mean that the company is acting incorrectly. But it shows the good financial condition of the organization.

Repayment period for accounts payable

Often a company is faced with the question of how to pay off accounts payable. After all, a company does not always have free money to do this. There are other options:

• provide services to the counterparty, ship goods to repay the debt and sign an act of offset;
• transfer any property as payment.

If such options are not suitable, and the payment deadline is approaching, then you can sign an additional agreement to postpone the payment deadline. As an option, you can sign debt restructuring agreements.

The frequency of repayment of an organization's accounts payable can be considered optimal if the company pays debts to counterparties by closing accounts receivable. In simple terms, this is a situation when money from buyers comes before suppliers and contractors need to be paid. This way, the company will not have to take out bank loans in order to fulfill its obligations on time and avoid cash gaps.

Accounts payable (AC) is a debt arising for goods provided or services provided.

This type of liability includes debt to suppliers, personnel, insurance companies, the budget and other entities.

Types of accounts payable

The short-term contract can be current or expired. The current one allows you to use funds for your own purposes until obligations arise. Overdue occurs as a result of violation of obligations and entails negative consequences, including penalties in accordance with the contract or current legislation. Also, evasion of payment of the tax may result in criminal liability.

Accounts payable are classified according to various criteria. The most common among them are the following.

Depending on the timing of formation, the short circuit can be:

• current (up to 90 days);
• short-term (up to 12 months);
• long-term (up to 3 years);
• hopeless and subject to write-off (over 3 years, if it is impossible to return the funds for objective reasons).

Depending on the fact of confirmation, short circuits are divided into:

• balance sheet;
• confirmed by reconciliation acts;
• confirmed by primary documents;
• confirmed by a court decision;
• issued in the form of debt securities.

Depending on the relationship with the creditor, there are:

• before affiliated structures;
• to independent creditors;
• to loyal creditors;
• neutral debt;
• to aggressive creditors;
• before the organizations carrying out collection.

Accounts payable analysis

The main task of the analysis of the debt is to determine the ability of the enterprise to repay this debt. To do this, first of all, they study the structure of accounts payable and its dynamics over a certain period of time. An assessment of its turnover, financial stability and solvency of the subject is also carried out.

To carry out the analysis, the liquidity ratio and short-term turnover are determined, its volume is calculated in absolute terms and the period for its payment is determined.

Information about the state of the short circuit plays an important role for the effective management of the organization. A comparison is made of accounts payable and receivable in absolute terms and the duration of turnover periods. If the turnover period of accounts receivable for the analyzed period significantly exceeds the turnover period of accounts payable, this may lead to negative consequences, such as the inability to make payments on time.

Despite the fact that in practice KZ is one of the sources of financing economic activities, its volume and dynamics can negatively affect the activities of the enterprise. In particular, a decrease in solvency and financial stability entails a decrease in investment attractiveness. Therefore, the main tasks of the enterprise management are:

• determination of the optimal structure of the short circuit;
• development of a system of coefficients that characterize the short circuit as fully as possible;
• ratio analysis;
• determination of deviations of coefficients from standard indicators;
• determining the reasons for deviation;
• development of a set of measures to eliminate the causes of deviation.

To reduce the volume of debt, you can negotiate with creditors and achieve restructuring. Changing the terms of the contract or obtaining a deferment will allow the current debt not to become overdue and gain time to find funds to cover the debt.

Contractual relations between legal entities imply the possibility of forming accounts payable. It has become an ever-present aspect of modern business activity.

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It is important to repay accounts payable on time, observing the terms and conditions of the signed agreement.

Kinds

In fact, this is the total amount of debts of a particular organization to other business entities, government organizations and individuals.

There are several reasons why accounts payable arises. But regardless of them, it is important to comply with reporting and display it in accounting and tax accounting. Most often it appears during the supply of goods or services. The company stipulates in writing in advance the amount (monetary or piece) of the future debt. A repayment schedule must be attached.

The following classification of accounts payable has been adopted:

• Regular. It is formed according to the scheme described above. Does not exclude the possibility of late payments, but within a short time period. Penalties for this are not mandatory - it depends on the terms of the agreement.
• Unjustified. The debt to the organization is not paid, additional agreements are impossible due to the conflict of interests of the parties. This situation has a negative impact on the company's balance sheet.

To minimize the appearance of the latter type of debt, you need to keep records correctly. Particular attention is paid to tax liabilities, since they directly depend on the amount of official debt.

Repayment of accounts payable step by step

To normalize business relations between partners, you can consider several options for its repayment. Each of them has certain advantages and disadvantages. The choice is made only after mutual discussion and reaching a compromise. It is not necessary to pay the invoice in full - you can use other methods.

Repayment methods:

• Mutually beneficial debt restructuring. It implies an increase in payment terms, a reduction in monthly financial obligations, and consideration of the option of reducing penalties.
• Using the netting mechanism. In essence, there will be an exchange of goods or services. The lender will receive material assets equivalent in value instead of money. In rare cases - the property of the debtor. The main thing is that the offset complies with the norms of Articles No. 410 and 411 of the Civil Code of the Russian Federation.
• Compensation. An extreme measure, since property is transferred as payment. The requirements for this mechanism are specified in Article No. 409 of the Civil Code of the Russian Federation. If, after the transfer and assessment of the property, it turns out that its value is lower than the debt, an act is drawn up.
• Using the norms of Article No. 414 of the Civil Code of the Russian Federation. The innovation consists of documentary repayment of the debt and one-day formation of a new one. It is necessary to draw up a new contractual agreement.

The specifics of using each of the above methods depend on the nuances of the debt and the degree of trust between the partners. It is impossible to carry out these actions unilaterally without prior agreement. This is prohibited at the legislative level, since the interests of one of the parties to financial and commodity relations may suffer.

What to do to avoid debts

The appearance of a debt to a business partner should not be spontaneous. This process must be controlled from two sides. Accounts receivable must be reflected in current accounting entries and must be supported by commodity and tax invoices.

To reduce the likelihood of developing debt that goes beyond the boundaries established in the relationship, it is recommended to perform the following actions:

• Periodic reconciliation with the partner’s accounting department. The recommended minimum time period is 1 month.
• In-depth analysis of the organization's solvency. If payment is not received on time, you need to find out about possible financial difficulties. In this case, it is recommended to limit supplies so as not to increase the risk of non-return.
• For the lending organization - to have a strategic reserve fund. Funds from it are spent only as a last resort.

Additionally, you need to do - the ratio of revenue to the amount of actual debt, the frequency of repayment of the first delivery. For the latter, you need to set a maximum time limit of 1 year (360 days). It is important that the company being financed does not have any write-off opportunities. This can lead to irreversible financial losses and a general deterioration in the economic situation of the enterprise.

What are the dangers of evasion?

It is not always possible to close a debt using the methods described above. In this case, it is necessary to take steps to enforce the collection of accounts payable. There are several ways to do this. It is important to take into account the current legislation.

1. Pre-trial claim. It is necessary to indicate the clauses of the contract for the supply of goods (services) that were violated. Additionally, the amount of penalties or other penalties is taken into account. The basis is Article No. 4 of the Arbitration Procedure Code of the Russian Federation, Article No. 132 of the Code of Civil Procedure of the Russian Federation and Article No. 4 of the CAS of the Russian Federation. They also regulate the procedure for document flow and the rules for filing a claim.
2. Filing a claim in court. It is compiled in accordance with current standards. Mandatory - the claim is filed only after the completion of the pre-trial procedure. This applies to all types of organizations and enterprises.
3. The alternative is a court order. If it is proven by irrefutable documents, an application is drawn up addressed to the judge of the Arbitration Instance. He writes out, which is transferred to the executive service.
4. Mandatory control over the actions of bailiffs.

The last measure should ensure full forced repayment of accounts payable. It is important that the bailiff checks all the assets of the organization - financial, movable and immovable property. Based on the inventory, an auction is announced, according to the results of which the amount of debt is repaid.

Features of write-off

Small delays in contractual obligations will not greatly affect the financial component of the company. If accounts payable are not paid regularly, the debtor has the opportunity to officially write them off. Therefore, it is important to consider the statute of limitations for such business relationships.

If funds were not transferred within a certain period, then on the basis of the letter of the Federal Tax Service No. GD-4-3/25307 and the Ministry of Finance No. 03-03-R3/45767, the debtor can obtain a write-off based on the following reasons:

• Expiration of the statute of limitations. Maximum period since last transaction - 3 years.
• Liquidation of the creditor. Debts are written off after official information is entered into the Unified State Register of Legal Entities.
• The creditor is actually a non-operating legal entity. The date of debt cancellation is the exclusion of the organization from the Unified State Register of Legal Entities.
• Official debt forgiveness. Must be documented.

After one of these reasons occurs, you need to make the appropriate entries in accounting and tax accounting.

Documenting

Writing off mortgage debt is a last resort measure for an enterprise. It is carried out if the other party is unable to fulfill its obligations - partially or in full. It is important to perform the actions correctly, in accordance with the law.

To write off the amount of accounts payable from the organization’s balance sheet, it is necessary to conduct an inventory. It is performed for the nearest reporting period, most often on the first day of the month. The basis is the order of the manager. The procedure is regulated by clause 78 of Order No. 34n of the Ministry of Finance.

The amounts of accounts payable that exceed the statute of limitations or become unjustified due to bankruptcy or closure of the organization must be taken into account.

Upon completion of all inventory activities, an act is drawn up in which the following fields must be filled in:

• full name of the legal entity being financed;
• numbers of accounting accounts on which the debt is recorded;
• separately amounts for agreed and unagreed amounts of debt;
• documents with expired statute of limitations.

Drawing up the act in two copies. One of them remains at the enterprise, the other is transferred to a special commission. Only after these formalities have been completed will the required amount be written off from the organization’s balance sheet.

Display in enterprise accounting

The next stage is proper accounting. In the future, this will be necessary for tax reporting and analysis of the actual financial situation. The basis for these actions is the inventory report and the accounting certificate.

Debt write-off without taking into account the statute of limitations, bankruptcy or closure of an enterprise is carried out only by mutual agreement of the parties.

In the latter case, the accounting account numbers will differ:

• Debit – 60, 62, 66, 76. Additionally, accounts 70, 71 and 76 can be used.
• Credit – 91. It belongs to the category “other expenses”.

It is important that the write-off procedure coincides with the expiration period of the statute of limitations. Therefore, the size and parameters of accounts payable must be constantly monitored. Each action must be justified in writing in order to be correctly reflected in the organization’s records. If this is not done, problems may arise with the tax service, including the imposition of penalties.

Tax accounting

Regardless of the reasons for the formation of debt, its size is included in the category of non-operating income. Grounds: Article No. 250, clause 18 of the Tax Code of the Russian Federation. However, an accountant or other responsible person must take into account the exceptions, which are described in detail in Article No. 251, paragraphs. 3.4, 11 and 21.

These include the following categories of debt:

• arising as a result of underpayments on tax items;
• obligations for insurance premiums, penalties and fines, but only to non-state funds;
• if the debt arose to the owner of the organization, whose share in the authorized capital exceeds 50% .