Accounts receivable are accounts receivable from buyers, accountants, customers and other creditors. As a rule, these amounts belong to the write-off, this procedure is approved by the “Regulations on accounting and financial reporting”.
Instructions
Step 1
First, it should be clarified that a receivable is written off when the statute of limitations (three years) has expired on it, as well as in the case of unrealistic collection, for example, in the event of a counterparty's bankruptcy.
Step 2
To write off overdue receivables, issue an order to conduct an inventory of receivables. Also indicate in this administrative document the composition of the inventory commission, which should consist of a chief accountant, a person responsible for conducting settlements with customers and other employees. Write down the timing of this procedure.
Step 3
After that, you need to take a receipt from the employee responsible for accounting for settlements with counterparties, stating that all the data are reliable and include complete information.
Step 4
Fill out all the results of the inventory in the form of an act (form No. INV-11), which must be signed by all members of the commission. You can also compose an appendix help to this document, which contains extended information. Then draw up a written justification, arrange it in the form of an accounting statement.
Step 5
After that, on the basis of all the above documents, issue an order to write off overdue receivables. And then reflect all this in accounting using the correspondence of invoices:
D91 "Other income and expenses" subaccount "Other expenses" K62 "Settlements with buyers and customers" or "Settlements with accountable persons" or 76 "Settlements with various debtors and creditors".
Step 6
The amounts written off must be included in non-operating expenses. After that, the written off accounts receivable should be reflected on the off-balance sheet account 007 "Written off at a loss accounts receivable" within 5 years from the date of write-off.
