Each company in the course of its activities is faced with the need to pay off accounts payable. This debt may arise from the enterprise to its counterparties in the event of default on its monetary obligations. In order for this not to lead to a forfeit, criminal liability or loss of reputation, it is necessary to carry out debt restructuring in time.
Instructions
Step 1
Use debt restructuring to reduce the amount of accounts payable, change the maturity and reduce the amount of forfeit. In this case, the creditor will be able to claim certain property and rights that belonged to the debtor. Restructuring can be done in three ways: novation, compensation or offset.
Step 2
Use netting to pay off accounts payable if there are mutual monetary claims between the company and counterparties. The conditions for offsetting are determined by Article 410 and Article 411 of the Civil Code of the Russian Federation. They stipulate that the debt must be of a reciprocal nature, i.e. if an enterprise has a debt under one agreement with a counterparty, then under the second it must act as a creditor. The subject of the debt must be homogeneous, therefore, for example, it is impossible to offset, if one party requires to pay off the debt in money, and the other - the provision of services. Set off in writing by means of a statement or bilateral agreement.
Step 3
Take advantage of the compensation, which consists in the provision of any property of the debtor in return for the accounts payable. To draw up a compensation agreement, one must be guided by Article 409 of the Civil Code of the Russian Federation. If the value of the property is less than the debt, then an appropriate act is drawn up, which indicates the amount for which the debt is considered to be repaid.
Step 4
Pay off accounts payable with the help of innovation, which is established by Art. 414 of the Civil Code of the Russian Federation. It represents a substitution of an enterprise's original obligation for another. As a result, the company extinguishes accounts payable, and in return receives new obligations, which are determined in a written agreement.
