In the process of doing business, enterprises, organizations, individual entrepreneurs generate accounts receivable and payable. They arise in accordance with contracts between suppliers and buyers, where the terms of delivery are prescribed, as well as the terms of payment for deliveries. The accountant has the right to write off unpaid receivables and payables from the balance sheet of the enterprise.
It is necessary
company documents, balance sheet form, accounting documents, documents for buyers and suppliers
Instructions
Step 1
In order to write off accounts receivable from the balance sheet of the organization, it is necessary to recognize the debt as unrealistic for collection from the buyer. The accountant submits contracts with the tax office, invoices for buyers who have accumulated debt amounts, accounting certificates of write-off, an order of the director on the possibility of write-off. The accountant indicates the amounts of receivables in the balance sheet on the debit of account 91 and refers them to the subaccount where the other expenses of the company are located. The debt is considered written off and is reflected in the breakdown of individual profit and loss indicators on line 007.
Step 2
When writing off receivables by limitation period, the accountant similarly indicates the amount of debt in the balance sheet, submits to the tax authority contracts, invoices confirming the occurrence of debt, acts of reconciliation with buyers, accounting certificates, an order from the head to write off the amounts of debt.
Step 3
If the buyer's company has been liquidated, the receivables on it can be written off on the basis of a document on its liquidation, an extract from the unified state register of legal entities on the exclusion of this organization from it.
Step 4
To write off accounts payable by the limitation period, the expiration of the limitation period, the organization must submit to the tax service an inventory statement for debt obligations, contracts with suppliers for which debts arose, reconciliation statements with suppliers. In the company's balance sheet, the accountant indicates the amount of debts on the loan of the sub-account of other income of account 91 of the balance sheet. The written off payables are reflected in the breakdown of the individual profit and loss indicators.
Step 5
Both accounts receivable and accounts payable should be written off from the company's balance sheet no later than in the reporting periods when a written basis for writing off appeared.
