How to deal with the company s closing accounts receivable

Specific accounting processing steps:

1. When selling on credit.

Debit: Accounts receivable.

Credit: main business income.

Tax Payable – VAT Payable (Output Tax).

2. When receiving money.

Borrow: Bank deposit.

Credit: Accounts receivable.

Accounting treatment of accounts receivable.

Accounts receivable refers to the amount that an enterprise should collect from the purchasing unit or the receiving unit for the sale of goods, the provision of labor services and other business activities, mainly including the price that the enterprise should collect from the relevant debtor for the sale of goods or the provision of labor services, and the packaging fees, transportation and miscellaneous expenses advanced by the first cargo unit. This account accounts for the amount receivable by an enterprise for business activities such as the sale of goods and the provision of labor services. In order to reflect the increase and decrease of accounts receivable and its balance, enterprises should set up an account of "accounts receivable", and enterprises that do not set up a separate account of "accounts receivable" should also account for accounts receivable in advance.

If an enterprise adopts a deferred approach to the collection of contract or agreement price due to the sale of commodities or the provision of labor services, etc., which is essentially of a financing nature, it shall be accounted for in the "long-term receivables" account, not in this account.

This account is based on the detailed accounting of different units that purchase goods or receive services.

The main accounting treatment of this account.

When accounts receivable occur in this account, this account will be debited according to the amount receivable, and the "main business income" will be credited according to the realized operating income, and the "tax payable - VAT payable (output tax)" account will be credited according to the value-added tax indicated on the special invoice; When accounts receivable are recovered, accounts such as "Bank Deposits" are debited and this account is credited.

The packaging fees, transportation and miscellaneous expenses advanced by the ** cargo unit of the enterprise shall be debited to this account and credited to the "bank deposit" and other accounts; When the freight is recovered, the "bank deposit" is debited and the account is credited.

If the amount of cash received from the debtor for repayment of debts is less than the book value of the accounts receivable, the enterprise shall debit the account of "bank deposits" according to the amount of cash actually received, debit the account of "provision for bad debts" according to the provision for bad debts that have been accrued for the restructured creditor's rights, credit this account according to the book balance of the restructured creditor's rights, and debit the account of "non-operating expenses" according to the difference.

First of all, the financial department of the enterprise should carry out detailed accounting according to the name of the customer on credit, regularly count the amount of credit sales of the customer, the age of the account and the increase or decrease of the change, the credit department should also often calculate the account period, aging structure, overdue account rate, bad debt rate and other indicators, and feedback the results to the enterprise supervisor, to evaluate and adjust the customer's credit rating, credit policy to provide a basis, but also to understand the total situation of credit sales. Secondly, the financial department of the enterprise should regularly send statements to customers, and the statements should be confirmed and signed by the parties involved in the supply and marketing of both parties and the financial personnel, as an effective basis for reconciliation, and should be dealt with in a timely manner if there is an error. For overdue accounts receivable, an aging analysis table should be prepared for aging analysis, and collection should be stepped up.

Finally, on the basis of the aging analysis table, the credit management department classifies the overdue accounts receivable according to the degree of risk. Different strategies should be adopted for collection of different types of accounts receivable.

Secondly, financial personnel should strictly follow the requirements of the "Accounting Standards for Business Enterprises" to carry out timely liquidation and reconciliation of accounts receivable, and actively take measures to preserve creditor's rights for customers who may go bankrupt or go bankrupt; In fact, the excess amount that is difficult to recover shall be written off after being submitted to the relevant departments for approval. Of course, no matter how strict the credit policy is adopted, as long as there is commercial credit behavior, the occurrence of bad debt losses is always inevitable. Therefore, enterprises should follow the principle of prudence, establish a bad debt reserve system, and use the accounts receivable balance percentage method or other methods to make bad debt reserves.

I don't know if you have ever encountered this situation, how should the accounts receivable be dealt with after the company goes bankrupt? If you don't know this part of the content, you can learn it.

In fact, accounts receivable cannot be recovered, and bad debt provisions should be made, so what should be done with relevant accounting entries?

1. When confirming bad debts.

Debit: Provision for bad debts.

Credit: Accounts receivable.

2. Recovery of confirmed bad debts.

Borrow: Bank deposit.

Credit: provision for bad debts.

3. When accruing.

Borrow: Asset impairment loss.

Credit: provision for bad debts.

4. When reversing.

Debit: Provision for bad debts.

Credit: Asset impairment loss.

How to do accounting entries for accounts receivable from company bankruptcy?

1. Direct resale method.

It refers to the method of directly reselling from accounts receivable and listing as management expenses for the current period when bad debt losses actually occur.

When bad debts are recognized:

Debit: Administrative Expenses – Bad Debt Losses.

Credit: Accounts Receivable - Company XX.

2. Allowance method.

The allowance method refers to the treatment method of estimating the possible bad debt losses of the enterprise on a regular basis and including them in the current expenses to form the bad debt provision of the enterprise, and then writing off the bad debt provision and accounts receivable when the actual bad debt loss occurs; There are three methods of making provision for bad debts: the percentage method of accounts receivable balance, the method of aging finch band analysis and the percentage of sales method; The percentage method of accounts receivable balance is usually used, which is suitable for enterprises with large credit sales amounts, high proportion of bad debts, and large amounts, which is more in line with the principle of robustness.

The accounting treatment of the allowance method is as follows:

When there is a bad debt that cannot be recognized.

Debit: Provision for bad debts.

Credit: How to manage accounts receivable? What are some of the points to note?