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The difference between accounts payable and borrowed funds. Accounts payable management. Different types of debt obligations

The concept and essence of the categories: debt, promissory note, borrowed funds and accounts payable

Definition 1

A debt obligation is a form of manifestation of an economic category and expresses the essence of the category “debt”.

A debt obligation is a certain form of the concept of “debt”, which is a relationship between a creditor and a debtor, the basis of which is the movement of resources, which is planned to be terminated by fulfilling obligations or by enforcement rights of claim. The duration of a debt obligation has a certain period. At the same time, it is important to correctly draw up debt obligations from a legal point of view; in addition, they must comply with civil law.

Note 1

Debt obligations are a special commodity, which has a direct impact on the level of their value. According to their economic content, the category of debt obligations can be classified as borrowed funds of an enterprise.

The liabilities of organizations can be classified according to various criteria, for example, by subject, maturity date, etc. Thus, in the classification of obligations by subject, they usually distinguish:

  • obligations incurred to third parties,
  • obligations to the owners of the enterprise.

Liabilities to owners represent the “equity capital” of the organization. It should be noted that the organization’s obligations to third parties are different types of accounts payable. IN general view, obligations to third parties form borrowed capital organizations.

Definition 2

Borrowed funds (borrowed capital) are economic and legal obligations organizations to third parties.

Sum borrowed money reflects future withdrawals of the organization’s assets (funds) related to previously assumed obligations. Considering commercial Bank, it should be noted that it attracts funds (borrowed) funds using the instrument of deposits, as well as various loans and credits that the bank receives from the Central Bank of the Russian Federation and other banks.

Definition 3

Bank debt in general is the amount of debts arising in the process of fulfilling banking operations and must be paid.

Bank debt can be:

  • creditor,
  • accounts receivable

The occurrence of bank accounts payable and receivable affects the fundamental accounting model as follows:

Definition 4

Bank accounts payable is the sum of the bank's debts to individuals and legal entities arising during the execution of banking operations.

This type of debt is the bank’s own financial obligation. Accounts payable from the bank arise during transactions with banks, internal banking transactions and customer transactions.

Regulatory regulation of accounts payable accounting in a commercial bank

All activities carried out by commercial banks are regulated by the Central Bank of the Russian Federation. The main document that regulates accounting in commercial banks, is the "Regulation on the rules of accounting in credit institutions located in the territory Russian Federation". This document establishes key rules for organizing accounting in commercial banks. It defines the main accounting accounts and establishes the procedure for carrying out banking transactions. Accounting for accounts payable is also regulated using this provision.

If there are insufficient financial resources, a commercial bank can receive loans from the Bank of Russia. Loans can also be obtained from non-resident banks and other Russian banks. These operations are completed by drawing up an application letter, which indicates the amount, term and purpose of the loan. Attached to the letter are: articles of association, articles of association, registration certificate, seal impression, cards with sample signatures, balance sheets on the date of receipt of the loan and on reporting date, documents on the availability of loan repayment security. Next, an agreement on the sale or purchase of credit resources is concluded.

To record these transactions, the following accounts are used: 312 -325 of the Chart of Accounts of Credit Institutions. Second-tier accounts for these accounts are divided according to loan terms.

Analytical accounting of debt on credits and loans is carried out separately by type of credits and loans, by credit institutions and other lenders, for individual loans and borrowings (types of borrowed obligations).

In accordance with the provisions of PBU 15/01, debt under debt obligations can be urgent (the repayment period of which, according to the terms of the agreement, has not occurred or has been extended (prolonged) in the prescribed manner) and overdue (debt on loans received and credits with expired repayment).

Note!

Accounting for urgent and overdue debts is carried out separately in separate sub-accounts opened for accounts and.

The organization that received the borrowed funds upon expiration of the payment period obliged to implement transfer of urgent debt to overdue, and this transfer is made by the borrower organization on the day following the day when, under the terms of the loan or credit agreement, the borrower was supposed to repay the principal amount of the debt.

Paragraph 6 of PBU 15/01 allows borrowing organizations to take into account long-term debt on loans and borrowings by any of two possible options, and the method used must be in mandatory fixed in the accounting policy of the organization.

Option 1.

The borrower organization accounts for borrowed funds under a long-term agreement as part of long-term debt until the expiration of the agreement.

Option 2.

The borrower organization first takes into account the debt under a long-term agreement as part of long-term debt and transfers it to short-term debt at the moment when there is 1 year left before the expiration of the agreement.

If an organization receives borrowed funds foreign currency, then this operation is regulated by the Regulations on accounting“Accounting for assets and liabilities, the value of which is expressed in foreign currency” PBU 3/2000, approved by order of the Ministry of Finance of the Russian Federation dated January 10, 2000 No. 2n (hereinafter referred to as PBU 3/2000).

Borrowed funds can be provided not only in the currency of the Russian Federation - rubles, but also in foreign currency or in conventional monetary units. In the case of receiving such borrowings, the borrowing organization must be guided by paragraph 9 of PBU 15/01:

“The debt on a loan and (or) credit granted to the borrower, received or expressed in foreign currency or conventional monetary units, is taken into account by the borrower in ruble valuation at the exchange rate of the Central Bank of the Russian Federation in effect on the date of actual transaction(providing a credit, a loan, including the placement of borrowed obligations), and in the absence of the exchange rate of the Central Bank of the Russian Federation - at the rate determined by agreement of the parties.”

Expenses in the form amount difference arise for the taxpayer if the amount of obligations and claims incurred, calculated at the rate established by agreement of the parties in conventional monetary units on the date of sale (receipt) of goods (work, services), property rights, does not correspond to the actual amount received (paid) in rubles.

The resulting difference between the ruble valuation of obligations for date of acceptance for accounting of accounts payable and its ruble valuation for expense recognition date represents amount difference. It would be most correct to recognize the date of occurrence of the amount differences as the date of repayment of debt under credit and loan agreements.

On March 13, the organization made an advance payment for goods that were accepted for accounting on March 20, 2006. The organization returned the loan amount to the bank on April 10, 2006.

In the organization’s accounting, the organization’s accountant reflected this as follows:

Account correspondence

Amount, rubles

Debit

Credit

The amount of the loan received is reflected

Prepayment for goods has been transferred

Goods from the supplier are accepted for accounting

VAT on goods received has been taken into account

Advance payment for goods has been credited

Interest accrued on the loan received (30%: (365: 100) x RUB 500,000 x 11 days)

Interest accrued on the loan received (30%: (365: 100) x RUB 500,000 x 10 days)

The amount of borrowed funds and the amount of interest due were returned 500,000+ 4109.59 + 4520.54 + 4109.59

End of the example.

First, let us explain what is meant by an investment asset.

“Additional costs incurred by the borrower in connection with obtaining loans and credits, issuing and placing debt obligations may include costs associated with:

providing the borrower with legal and consulting services;

carrying out copying and duplicating work;

payment of taxes and fees (in cases provided for by current legislation);

carrying out examinations;

consumption of communication services;

other costs directly related to obtaining loans and credits, placement of borrowed obligations.”

As you can see, this list of additional costs is open. Such costs are reflected in the accounting of the organization - the borrower, including reporting period, in which they were produced, can be previously accounted for as receivables, with subsequent inclusion in operating expenses during the repayment period of the loan obligation.

Example 3.

Let us assume that on January 10, 2006, a construction organization received a loan from a bank in the amount of 1,000,000 rubles for a period of 6 months. At the same time, the organization paid third party organization for the examination of this agreement, a fee of 6,000 rubles (excluding VAT).

The accounting policy of the organization provides that additional costs associated with obtaining borrowings are taken into account as part of deferred expenses, and then during the term of the agreement are charged to operating expenses.

This will be reflected in the organization’s accounting as follows:

Account correspondence

Amount, rubles

Debit

Credit

Expenses for expert services are taken into account

51 “Current account”

Examination services paid

51 “Current account”

66 subaccount “Calculations for the principal amount of the loan”

Received funds under a loan agreement

Then monthly during the validity period loan agreement(6 months) the accountant will include in operating expenses the corresponding part of the costs of reviewing the contract.

91 subaccount “Other expenses”

Part of the additional costs is included in operating expenses

The procedure for organizing the accounting of loans and borrowings is regulated by the Accounting Regulations “Accounting for Loans and Loans and the Costs of Servicing them” PBU 15/01, approved by Order of the Ministry of Finance of Russia dated August 2, 2001 No. 60n.

Foreign currency transactions to attract a loan are carried out in a non-cash manner and are reflected in the borrower’s records at the time of receipt Money. Foreign currency is credited to the organization's current foreign currency accounts in authorized banks.

The borrower organization takes into account for accounting at the time of the actual transfer of foreign currency funds credit obligations for the principal amount of debt as part of accounts payable. The principal amount of debt (debt) for a loan and (or) credit received from the lender is taken into account by the borrowing organization in accordance with the terms of the loan agreement or credit agreement in the amount of funds actually received.

The debt on a loan provided in foreign currency is taken into account by the borrower in ruble valuation at the Bank of Russia exchange rate in effect on the date of the actual transaction.

Depending on the term of the loan, accounts payable can be short-term or long-term.

When receiving a credit or loan for a period of more than 12 months, an entry must be made in the accounting of the borrowing organization to debit the account for accounting for cash or other valuables received and to credit the account.

The working chart of accounts may provide for the use of the following accounts:

Repayment of foreign currency loans is made within the time limits established by the loan agreement. According to civil law, the organization’s obligations to repay the loan are considered fulfilled after foreign currency is credited to the lender’s bank account, unless otherwise provided by the agreement.

In accounting, repayment of loan obligations is recognized at the time funds are written off from foreign currency account borrower.

Depending on the content of bank credit and loan agreements, the presence of amounts of urgent and (or) overdue debt is established.

The agreement comes into force and becomes binding for the parties from the moment of its conclusion; for loan and credit agreements, this is the moment of transfer of funds.

If the terms of the agreement provide for the repayment of a foreign currency loan in parts, then the delay in returning the next part gives the creditor the right to demand early repayment of the entire remaining amount of the debt and interest.

Foreign exchange transactions for the payment of penalties to fulfill loan obligations, carried out from the organization’s accounts in authorized banks or third parties in favor of residents and non-residents, can be carried out without special permission (license) from the Bank of Russia.

In accordance with clause 7 of PBU 3/2000, the value of funds expressed in foreign currency in settlements (including settlements on borrowed obligations) with any legal entity and individual as of the date of preparation is subject to revaluation in ruble equivalent financial statements.

The exchange rate difference is reflected in accounting in the reporting period to which the date of fulfillment of payment obligations relates or for which the financial statements were compiled.

The exchange rate difference between the ruble valuation of foreign currency liabilities at the rate established by the Bank of Russia on the reporting date and their ruble valuation at the Bank of Russia rate in effect on the date of crediting funds or on the date of the last revaluation is taken into account at the end of the current period.

The debt on a credit (loan) received in foreign currency is written off in ruble terms at the Bank of Russia exchange rate in effect on the date of payment. At the same time, the organization records the exchange rate difference between the ruble valuation of foreign currency liabilities at the Bank of Russia exchange rate in effect on the date of return of foreign currency funds and their ruble valuation at the Bank of Russia rate in effect on the date of the last revaluation.

Exchange differences resulting from the recalculation of the principal amount under a loan agreement are included in the financial results of the organization as non-operating income and expenses.

Thus, exchange rate differences are recognized upon each revaluation of funds in settlements of loans and borrowings in foreign currency on the reporting date, as well as on the date of fulfillment of loan obligations (loan repayment).

Example 4.

The organization received a loan in the amount of $150,000 for 2 months.

The exchange rate of the US dollar against the ruble was (conditionally):

Account correspondence

Amount, rubles

Debit

Credit

The received short-term loan in foreign currency was credited to the current foreign currency account (USD 150,000 x RUB 30.50/USD)

Foreign currency funds were written off from the current foreign currency account when repaying the loan (USD 150,000 x RUB 30.70/USD)

A positive exchange rate difference is reflected between the ruble valuation of borrowed obligations at the Bank of Russia exchange rate on the date of loan repayment and their ruble valuation at the Bank of Russia exchange rate on the date of the last revaluation

The rules for the formation in accounting of information about the costs associated with the fulfillment of obligations under received loans and credits are given in PBU 15/01, according to clause 2 of which these rules do not apply to interest-free loan agreements and government loan agreements.

Interest for the use of provided foreign currency funds is accrued monthly from the moment foreign currency is credited to the organization’s account in accordance with the procedure established by the agreement. The amount of interest increases the principal loan obligation.

The organization's fulfillment of interest payment obligations must be carried out within the time limits established by the agreement. If such terms are not determined, then interest is paid monthly until the day the loan amount is repaid.

Debt on outstanding loans and borrowings is shown in accounting, taking into account interest payable in accordance with the terms of agreements at the end of the reporting period.

Accrued interest is taken into account in ruble valuation at the rate of the Bank of Russia in effect on the date of their recognition, and in its absence - at the rate agreed upon by the parties to the transaction. The procedure for recalculating interest debt is similar to the procedure established for the principal debt.

Therefore, the exchange rate difference is determined with each revaluation of unpaid interest on credit obligations in foreign currency as of the reporting date, as well as on the date of fulfillment of obligations to pay them.

The basis for stopping the accrual of exchange rate differences in accounting that arise when revaluing the balance of funds in settlements of credit and borrowed obligations in foreign currency is the termination of obligations under this loan agreement.

Exchange differences under a loan agreement, in which obligations to the creditor are expressed in foreign currency, are not accrued from the moment (specified in the text of the agreement) of the end of the loan agreement (which can be extended), if it stipulates that at this moment(date) the obligations of the parties (lender and borrower) under the agreement are terminated.

In the absence of the above condition in the text of the loan agreement, exchange rate differences are accrued until the moment (date) stipulated by the agreement when the parties fulfill their obligations to repay the borrower organization the entire amount of the loan (loan) and interest on it.

Exchange differences arising as a result of recalculation of the principal amount under the loan agreement are recognized as part of non-operating income and expenses, while exchange differences arising from the revaluation of accrued interest are reflected in accordance with the procedure provided for the recognition of loan servicing costs.

Costs for loans and credits received are expenses for the period in which they were incurred and are classified as operating expenses, with the exception of their part to be included in the cost investment asset-- a property whose preparation for its intended use requires considerable time.

Loan and credit costs are included in current expenses in the amount of payments due in accordance with the terms of the concluded agreements, regardless of the form and when the above payments are actually made.

Accrued interest on loans and borrowings attributed to operating expenses is reflected in the accounting records of the borrower organization in the account 91 “Other income and expenses”, subaccount “Other expenses” (91-2)

Note!

Debt on loans and credits received is shown taking into account interest due at the end of the reporting period according to the terms of the contracts.

In the accounting records of an organization, the amounts of accrued interest for the use of borrowed funds are reflected on the credit of accounts 66 “Settlements for short-term loans and borrowings” And 67 “Calculations for long-term loans and borrowings” in correspondence with the debit of the account 91 “Other income and expenses”. It should be borne in mind that the amounts of accrued interest are taken into account apart.

Payment of accrued interest reduces accounts payable on borrowed funds received.

Example 5.

On March 10, 2006, the manufacturing enterprise Tekhnika LLC was granted a loan in the amount of 1,000,000 rubles for a period of 3 months at 24% per annum. In accordance with the terms of the loan agreement, the organization is obliged to pay the bank monthly interest for using the loan no later than the 5th day of the next month.

The total amount of interest that Tekhnika LLC must pay for using the loan provided will be:

1000,000 rubles x 24: (366 x 100) x 93 days. = 60,983.61 rubles;

In the accounting records of Tekhnika LLC, transactions with borrowed funds were reflected as follows:

Account correspondence

Amount, rubles

Debit

Credit

51 “Current account”

Loan amount received

The amount of interest on the loan for March 2005 was accrued (1,000,000 rubles x 24: (366 x 100) x 22 days)

Therefore, if the terms of the contract do not specify monthly accrual interest, then in accordance with paragraph 18 of PBU 15/01, the borrower organization must still accrue interest evenly (monthly).

Advice: provide for the monthly accrual of interest in contracts, otherwise possible deviations may appear in accounting when reflecting interest accrued in accordance with the terms of the contract and accrued monthly.

Because accounting standard allows interest to be calculated in two possible ways, the organization must choose any of the options and consolidate this provision in its accounting policies.

Let us give an example from the consulting practice of BKR-Intercom-Audit CJSC on the recognition of interest on a loan used for the construction of a residential building.

Example 6.

Question:

A commercial organization (CJSC) received a loan in the amount of 10 million rubles. at 6% per annum from another commercial company. The loan agreement does not indicate for what specific purposes it is issued.

5 working days after the receipt of borrowed funds, the CJSC sent an amount of 9.5 million rubles. to invest in the construction of a residential building. There were no other receipts to the CJSC's current account during this period.

Question: For accounting purposes, should accrued interest on a loan be included in the cost of the investment asset (and in what part - in full or in proportion to the share of payment under the investment agreement) or should the amount of interest be attributed to operating expenses?

Answer:

Rules for the formation in accounting of information about the organization’s fixed assets, including rules for the formation initial cost fixed assets, establishes the accounting regulations “Accounting for fixed assets” PBU 6/01, approved by order of the Ministry of Finance of the Russian Federation dated March 30, 2001 No. 26n (hereinafter referred to as PBU 6/01).

The actual costs that form the initial cost of fixed assets include interest on borrowed funds accrued before the fixed asset was accepted for accounting, if they were raised for the acquisition, construction or manufacture of this object.

However, the provisions of PBU 15/01 provide two options for classifying loan interest as expenses.

IN general case the costs of loans and credits received, directly related to the acquisition and (or) construction of an investment asset, must be included in the cost of this asset and repaid through depreciation (clause 23 of PBU 15/01).

The costs of received loans and credits associated with the formation of an investment asset, for which, according to accounting rules, depreciation is not charged, are not included in the cost of such an asset, but are charged to the current expenses of the organization in the generally established manner. Since by objects housing stock depreciation is not accrued (clause 17 of PBU 6/01), then interest on a loan used for the construction of a residential building is not included in the costs included in the initial cost of the fixed asset. The specified interest is the operating expenses of the organization and is subject to inclusion in the financial result of the organization.

Assessing the relationship between the norms of PBU 6/01 and PBU 15/01 from the standpoint of legal theory, we can conclude that the norms of PBU 6/01 are general, as they regulate the formation of the initial cost of any fixed assets. The norms of PBU 15/01 are special, since they deal with accounting for the costs of loans and credits for a specific type of property - not subject to depreciation. Thus, it seems to us that in the case under consideration one should be guided by the norms of PBU 15/01, which are special in relation to the norms of PBU 6/01.

In light of the above, we can conclude that the entire amount of accrued interest on the loan received is included in the operating expenses of the reporting period for their recognition.

During the oral discussion, it was found out that the object under construction - a residential building - may be intended for resale, and accordingly, after the transfer of ownership to the CJSC, the apartments will not be put into operation as fixed assets, but included in the composition of goods. However, at the time of investing funds in construction, the CJSC does not clearly determine the purpose of the property.

Because general principle recognition of costs for received loans and credits according to PBU 15/01 is that these costs must be recognized as current expenses, we focus on the exception. A special procedure has been established for the part of borrowing costs that is subject to inclusion in the value of the investment asset. Also in the event that an organization uses funds from received loans and credits to make advance payments for inventories, other valuables, works, services, or to issue advances and deposits towards their payment.

The concept of an investment asset is defined as an object of property, the preparation of which for its intended use requires significant time. Objects purchased directly for resale are excluded from this category. Since an organization cannot qualify a property under construction as intended directly for sale, it is unlawful to exclude a house under construction from the category of investment asset.

It is also unreasonable to regard investments in the construction of a residential building as an advance payment for inventory items, since at the construction stage the organization does not have sufficient grounds to qualify the future object as a product.

Therefore, in relation to interest on a loan received, the rules for accounting for expenses on loans aimed at acquiring an investment asset should be applied. As noted above, in general, the costs of borrowings and credits received that are directly attributable to the acquisition or construction of an investment asset must be included in the cost of this asset and repaid through depreciation. The rules of paragraph 23 of PBU 15/01 regarding the inclusion of interest in the cost of an investment asset, first of all, are aimed at complying with the principle of uniform inclusion of expenses in the cost price products sold.

In relation to fixed assets for which depreciation is not accrued, the cost of the object does not participate in the formation of the cost of goods sold. Therefore, costs in the form of interest on a loan aimed at purchasing an object are recognized by the organization as operating expenses at the time they are accrued.

Upon completion of construction, the object can be classified as a product. The cost of goods sold forms the organization's expenses at the time of sale. Based on the rules of PBU 5/01, the cost of goods consists of the actual costs of their acquisition, including interest on borrowed funds accrued before the inventory is taken into account for accounting, if they were raised to purchase these inventories. Based on this, we can conclude that the amount of interest on a loan aimed at constructing a construction project affects the financial result from the future sale of this object. Therefore, the cost of goods, formed without taking into account the amount of accrued interest, will affect the profitability of transactions for the purchase and sale of apartments, which may affect the decisions of users of financial statements.

At the same time, it should be taken into account that financial statements are prepared according to certain rules, taking into account the materiality indicator. It is necessary to declare in the accounting policy what value of the indicator will be accepted as significant. Paragraph 11 of PBU 1/98 establishes that an organization must disclose decisions taken during formation accounting policy accounting methods that significantly influence the assessment and decision-making of interested users of financial statements. Methods of accounting are considered essential, without knowledge, the application of which by interested users of financial statements is impossible to reliably assess financial situation, cash flow or financial results activities of the organization. Accounting methods include, in particular, methods for valuing goods and recognizing profits from the sale of goods.

The organization's decision on whether this indicator significant, depends on the assessment of the indicator, its nature, and the specific circumstances of its occurrence. The organization may decide when to form actual cost goods, an amount is considered significant if its ratio to the cost of the goods is at least 10 percent. Since the loan was received at 6% per annum, when construction is carried out for no more than a year, the interest rate will not exceed the materiality limit.

Thus, interest on a loan used for the construction of a residential building can be recognized as part of operating expenses on the date of accrual. If the organization is confident that the amount of interest accrued on the loan will exceed the materiality level, then we recommend using an account to accumulate the costs of servicing the loan and evenly including them in expenses as the apartments are sold.

The fact is that today there are different procedures for accounting for these differences in borrowed funds received. Differences related to interest represent operating expenses, and differences arising in the valuation of borrowed funds (based on the principal amount of debt) in accordance with the norms of accounting legislation are attributed to non-operating expenses. But repayment of the principal amount of the debt is not considered an expense. What to do in such a situation?

Example 7.

Let us assume that Raduga LLC received a loan on March 12, 2006 from Katyusha JSC, the value of which is expressed in conventional monetary units. The amount of borrowed funds is equivalent to 5,000 euros. Borrowed funds are provided for a period of 1 month at 40% per annum.

The euro exchange rate is taken arbitrarily and is:

51 “Current account”

The amount of borrowed funds was returned (5,000 USD X 34.70 rubles)

As we can see, as a result, the amount of 1,000 rubles (173,500 rubles - 172,500 rubles) remained on the account, which actually represents the resulting amount difference.

End of the example.

You can find out more about the issues of accounting for transactions with borrowed funds from the borrowing organization in the book of BKR-Intercom-Audit CJSC “Borrowed and credit funds. Bail and surety."

  • Vaulina Alina Alekseevna, student
  • Stavropol State Agrarian University
  • Tomilina Elena Petrovna, Candidate of Sciences, Associate Professor, Associate Professor
  • Stavropol State Agrarian University
  • CREDIT
  • BORROWED FUNDS
  • FINANCIAL STABILITY
  • ACCOUNTS PAYABLE
  • COMPETITIVENESS
  • BANKRUPTCY

The article discusses the concept of accounts payable, its characteristics, management system accounts payable and methods of raising borrowed funds.

  • The main problems of compulsory health insurance for citizens
  • Financial aspects of ensuring the competitiveness of a corporation
  • Tax accounting under a simplified taxation system

Almost all organizations in modern world can't get by in their economic activity without accounts payable. In Russia in last years deterioration is observed economic situation and growth of accounts payable economic entities. The debt of enterprises is a factor in their lack of financial stability and investment unattractiveness.

Accounts payable are an unpaid obligation of a company to creditors. Creditors of the enterprise are suppliers of goods, works, services, lessors, buyers, employees, the budget and extra-budgetary funds. Accounts payable are characterized by the following main features:

  1. Free source of borrowed funds. Accounts payable reduces not only the cost of the borrowed part of capital, but also the cost of the entire capital of the enterprise.
  2. Size affects duration financial cycle enterprises. The larger the amount of accounts payable, the less funds the company needs to raise to finance its business activities.
  3. The amount of accounts payable is directly dependent on the volume of production and sales of products. With an increase in production volume, the company's expenses also increase, and this entails attracting more funds and an increase in accounts payable.

Accounts payable management is important aspect financial management. The success of the organization and its existence in the future depends on how effectively this management is carried out. With proper management, such debt can become an additional, and most importantly, cheap source of raising borrowed funds. Therefore, it depends on how relationships with counterparties are built, the terms of concluded contracts are agreed upon, and the terms of their payment are monitored, i.e. What is the mechanism for managing accounts payable largely depends on the efficiency of using the funds received. It is important to note that any debt primarily affects the solvency of the organization. Therefore, in order to effectively manage an organization’s debts, it is necessary:

  1. Determine the optimal structure of accounts payable for the enterprise
  2. Create an accounts payable budget
  3. Develop a system of indicators characterizing relations with creditors and accept certain values ​​as planned
  4. Analyze the compliance of actual indicators with standard indicators
  5. Analyze the causes of any deviations
  6. Develop a set of practical measures to bring the debt structure in line with planned indicators.

The manager plays an important role in managing accounts payable. He must develop and apply a clear strategy in relations with creditors so that they are most consistent with the goals of ensuring the financial stability of the company and increasing its profitability and competitiveness. When developing a strategy, managers must pay great attention to solving such problems as: maximizing profits and minimizing company costs, achieving dynamic development and increasing the creditworthiness of the organization. When all these tasks are completed, the maximum financial stability organizations. Funding for these tasks must also be ensured in in full. The organization should use everything first own sources financing, and then attract borrowed funds from lenders. It is important to take into account the cost of borrowed capital, which should allow maintaining the organization’s profitability at an optimal level.

An important step in managing accounts payable is determining the most appropriate tactical approaches. There are several approaches to raising borrowed funds:

  1. Investor funds (expansion of authorized capital)
  2. Bank loan
  3. Trade credit (deferred payment to suppliers)
  4. Using your own "economic superiority"

The method of raising funds at the expense of investors has its own characteristics. Firstly, this method is characterized by its low cost. As a rule, investors, exchanging their funds for a share in an organization, count on certain dividends specified in the constituent documents in the form of interest. At the same time, if there is no profit at the enterprise, the capital invested in the business can be “free”. Secondly, investors get the opportunity to influence the processes occurring in the organization. Therefore, great attention must be paid to saving the package controlling shares, otherwise yours equity can turn into capital transferred as loans to a new investor. Thus, when attracting funds from investors, certain limitations must be observed; they should not be more than their own initial investments.

A bank loan is usually issued by banks. This type attracting funds is the most expensive, as it involves high percent and the need for reliable provision. Despite the “high cost” and “problematic nature” of attracting, the possibilities of a bank loan, unlike an investment loan, must be used by the company 100%. A significant disadvantage of financial borrowed funds is the presence of strictly defined terms for their repayment.

Raising borrowed funds using commodity credit It is the most in a simple way, since it does not require collateral and is not associated with significant costs and duration of registration.

The essence of using the advantages associated with one’s own economic superiority is the ability to dictate and impose on the supplier (lender) one’s own “rules” of the game in the market and the nature of contractual relations. The economic superiority of the borrower over the lender may arise in the following cases:

  • monopoly position of the borrower in the market
  • the buyer's assets significantly exceed those of the supplier
  • marketing benefits
  • organizational shortcomings in the management of receivables by the lender.

Thus, a manager, when trying to make the most of all sources of borrowed funds, should pay attention to the possibility of repaying these funds in the future, as well as compare the organization’s capabilities with approaches to attracting borrowed funds.

Also, one of the most important stages of accounts payable management is tracking payment deadlines. In case of late payment, an increased percentage of payments under the contract is often applied; in case of subsequent delay, the delivery may be cancelled.

Thus, the accounts payable management system must necessarily include the following elements: planning of accounts payable, its regulation, control, analysis and regulation of these processes. Effective management of accounts payable provides the organization with working capital for continuous operations. Only A complex approach will provide effective management accounts payable, also reduce the risk of insolvency and bankruptcy of the enterprise.

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In progress economic activity The role of performer or customer can be assumed by any association. During settlements, receivables and payables are formed on his accounts. The article examines the concept and types of accounts payable, as well as aspects of each category.

Features of accounts receivable

Today under definition accounts receivable imply the total debt of associations, citizens and employees of a particular structure. Simply put, these are the debts of buyers for the purchased product, services or work, the debt of accountable persons for the funds issued to them. Debtors are individuals and enterprises that owe a certain amount of money to a specific organization.

Classification of accounts receivable

It is worth noting that there are quite a lot of concepts and types of receivables and payables. There are several types of categories according to the content of obligations:

  • Debts associated with the sale of goods, services, work or products.
  • Debts not related to the sale of goods, services, products or work.

According to the duration criterion, accounts receivable are divided into short-term and long-term. Based on the factor of timely payment, the following categories of debt are distinguished: normal and overdue (doubtful and hopeless).

Concept and types of accounts payable

Under accounts payable, as one of the categories legal significance, understand the relationship of obligation between the enterprise and its creditors. The economic aspect is represented by the organization’s funds (most often) and inventory items. Despite the fact that the structure uses all currently known types of accounts payable, it is obliged to return or pay the due part to creditors property complex. Creditors, in turn, have every right to demand fulfillment of the obligation.

Duality of definition

The essence and types of receivables and payables are largely determined by the duality of their legal nature. The category is the property of the organization as one of the parts common property according to the right of ownership in relation to funds or things received by borrowing. Considered economic category, being the object of legal obligations, represents the company’s debts to creditors. Creditors are persons who have the right to claim or recover part of the property complex from the specified association.

Features of accounts payable

According to a simplified view, accounts payable is a type of obligation to creditors, something that an organization must pay to a legal or to an individual. A complete definition implies the combination of all the listed characteristics. For example, accounts payable are part of the organization’s general property, acting in the form of debt obligations arising as a result of various legal grounds, to creditors, that is, eligible persons.

Mandatory aspects of accounts payable

It is worth remembering that all types of accounts payable of an enterprise are subject to accounting and must be reflected in the balance sheet.

The debtor can collect debts forcibly when the creditor does not take any action aimed at voluntary repayment of debts. The collection procedure, depending on the type of accounts payable, can be either judicial or extrajudicial.

Different types of debt obligations

Accounts payable currently refers to creditor debts of various origins. Since all types of accounts payable known from textbooks are clear examples of sources material resources at the disposal of the organization and displayed in liabilities balance sheet. The categories described in the article are recorded separately for each loan. The summary indicators indicate the total accounts payable. It is issued only when the amount is divided into several groups.

Short-term improvement in financial condition

The nature and types of accounts payable suggest that the involvement of money turnover organizing borrowed funds allows you to temporarily improve the overall financial condition structures. Main feature is that borrowed funds do not remain in circulation for a long time, being returned according to the terms specified in the official agreement.

Otherwise, an overdue type of receivables and payables of the enterprise arises. This involves paying a fine and deteriorating the financial life of the company. For this reason, the composition and duration, causes and frequency of its occurrence of debt must be studied.

Free loan

According to its definition, all types of accounts payable are a free loan and are included in the category of monetary and material resources attracted into the turnover of the structure. Accounts payable, unlike stable liabilities, is not a planned source of formation working capital and is a short-term liability for the company.

The part of the organization under consideration is determined by laws, since it arises due to the peculiarities of the calculations. Despite this, violation of settlement and payment discipline leads to the emergence of accounts payable. In essence, it is a consequence of failure to meet deadlines for submitting documentation and paying for goods and services.

Short-term type of loan

Type of accounts payable and receivable with short-term calculation used by the organization. To generate such funds they use internal sources. The organization accrues them daily according to various types of accounts. The repayment period for obligations under this accounts payable does not exceed a month. Funds included in accounts payable, after being credited to the account, cease to be the property of the organization, since they are used only for the period specified for repaying current obligations. According to their economic content, they are a type of borrowed capital.

Classification of accounts payable by type

According to the current classification, accounts payable are divided into several types according to certain criteria:

  • Suppliers and contractors.
  • Transfer of contributions by insurance property companies.
  • Transfer of contributions by personal insurance employees.
  • Bills payable.
  • The founders agree with the payment of income and other things.

Depending on the legal regime and legal basis debts are divided into three groups:

  • Employees of the organization, for example, have debts to pay wages.
  • Before the budget and social funds.
  • To partners and contractors.

Debts are classified into two categories based on the fact of payment:

  • Overdue - the repayment period has reached.
  • Non-overdue - debts whose repayment dates have not yet arrived.

The structure of accounts payable includes the organization's debt:

  • To suppliers and contractors.
  • Before the state budget.
  • To organizations and employees.
  • Before government off-budget funds.
  • To third party creditors.
  • According to issued loans and credits.

Distinctive features

Accounts payable, discussed in the article, as a form of borrowed capital, is determined by key characteristics:

  • Acts as a free source of borrowed funds. Accounts payable as a source of capital formation makes it possible to reduce its leverage and total cost.
  • The duration of the financial cycle directly depends on the amount of debt. It affects the amount of money needed for financing current assets. The larger the amount of debt, the less funds the structure must attract to finance its own economic activities.
  • The volume of economic activity of the organization, including the volume of products produced and sold, affects the total amount of debt. The company's expenses increase as the volume of output increases, respectively, this leads to an increase in the amount of accounts payable.

The volume of all purchases made by the structure affects the amount of accounts payable. No less influential are the factors specified in the agreement with counterparties, the terms of settlement with suppliers and contractors, the policy adopted by the organization regarding the repayment of accounts payable, the saturation of the market with a specific product, the settlement system adopted in the structure, the quality and consistency of using the results of the analysis.

The quality and turnover of accounts payable increases in proportion to the increase in non-cash payments. The solvency and stability of the organization increases with a decrease in debt. Termination of debt is carried out by the executor.

Short-term debt

Classic short-term debt can arise both to individuals and to legal entities. The repayment period for such debts does not exceed 12 calendar months.

There can be several situations in which short-term debt arises:

  • In case of non-payment of goods sold, work performed or services provided to performers and sellers.
  • To buyers according to advances received for future deliveries.
  • To suppliers for deliveries not accompanied by invoices.
  • To employees involved in the payment of wages.
  • By bank loans and short-term loans.
  • Before budgetary and extra-budgetary funds for various penalties, contributions, fines, taxes and fees.

Long-term debt type

Accounts payable are considered eligible when their repayment dates have not yet arrived. Debts with a maturity period of more than one year are considered long-term.

This type of debt includes:

  • Long-term liabilities for issued banking organizations loans and credits taken from other structures.
  • Bills and bonds with a maturity of more than one year.
  • Deferred tax liabilities.
  • Long-term lease obligations.

Collection of overdue long-term debt is carried out in judicial procedure after submission statement of claim, filed by the creditor. Such debts are classified as problem debts and are collected by court decision.

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