By the nature of education accounts receivable divided into normal and unjustified Van Horn JK, Fundamentals of Financial Management. Per. from English. - M.: "Finance and statistics", 1999. -

p. 275. The normal debt of an enterprise is that which is due to the progress in the implementation of the production program of the enterprise, as well as the current forms of payment. Unjustified receivables are considered to be those that arose as a result of a violation of settlement and financial discipline, existing shortcomings in accounting, weakening control over vacation material assets, shortages and theft.

Also, as criteria for classifying receivables, one can propose the type, term, fact of the payment due date, by economic entities.

In modern economic practice, receivables are classified by type : for goods, services, works, the payment deadline for which has not come and not paid on time; on bills received; for settlements to the budget and with subsidiaries and affiliates; on advances issued; on settlements with personnel; founders on contributions to authorized capital; settlements with other debtors.

Among the listed types, the largest volume of receivables of the enterprise falls on the debt of buyers for shipped products Kovalev VV, Introduction to financial management. M: FiS, 2000.- p. 386 (the first 3 types).

Drawing No. 1. Scheme - types of receivables

In the total amount of receivables, settlements with buyers may account for 80-90%.

Also accounts receivable, can be classified by deadlines. Often times are divided as follows:

a) 0-30 days;

b) 31-60 days;

c) 61-90 days;

d) 91-120 days;

e) over 120 days.

Upon the due date of payment:

a) Overdue receivables are the debts of any third parties for obligations, the deadlines for which, at the time of the balance sheet, have come and are violated by the debtors.

In its composition, two types of receivables can be distinguished: receivables, the chances of repayment of which, despite the delay in payment, have been preserved, and receivables, the collection of which is unrealistic for any factual reasons.

The unreality of obtaining overdue debts may be due to the expiration of limitation period on enforcement debt, insolvency of the debtor. Such receivables are classified as uncollectible, transferred to the doubtful debts and make savings for the total amount. The reality and unreality of repayment of debts is assessed by the creditor organization itself, taking into account specific circumstances.

b) Accounts receivable, the due date of which has not come, - debts of third parties for obligations, the deadlines for which have not come at the time of leaving the balance sheet. Such debts can be received if the debtor properly fulfills its obligations, therefore, this debt is real for collection.

According to balance sheet items accounts receivable is divided into the following types:

a) debts of buyers and customers;

b) debts of subsidiaries and related enterprises;

c) debts of associates;

d) other debtors;

e) unpaid capital shares;

f) short-term loans to shareholders or co-founders and management of the enterprise;

g) deferred expenses;

h) accumulated income.

By degree of liquidity accounts receivable is subdivided by Balabanov I.T., Fundamentals of financial management, textbook, M: FiS, 2000.- p. 263 into:

a) current, this is a receivable that is not due;

b) restructured, these are receivables for which agreements (agreements) on restructuring (including settlement agreements approved by the court) have been signed and are in force, describing the procedure, form and terms of debt repayment;

c) claims, this is a receivable collected in the course of enforcement proceedings, as well as being in the process of judicial review or in the work of legal services (from the moment of filing a claim for violation of the payment deadline);

d) moratorium - this is the receivables of consumers in respect of which bankruptcy proceedings have been initiated;

e) "dead", this is a receivable, documented as unrealistic to collect in the order.

In the process of financial and economic activity, an economic entity may form various types of debts to counterparties.

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Basically, the division is made into accounts payable and receivable. The latter, in turn, is divided into subspecies, the main features of which we will discuss later.

What it is

Accounts receivable is a collection financial resources who owe one enterprise to others legal entities or citizens.

There are usually two parties involved in the process:

Accounts receivable is a part of the property of the enterprise, temporarily withdrawn from circulation. Almost no legal entity in the Russian Federation exists without debts from other persons.

Accounts receivable are formed as a result of the conclusion of contractual relations between counterparties, and not always those are in writing.

No matter how strange it may sound, but receivables are beneficial to both sides of the process to some small extent:

What are the types

Accounts receivable are usually divided into two broad types:

• normal;
• overdue.

Example of normal debt:

1. Goods were shipped, services were rendered or works were performed for the buyer/consumer of services, the ownership was transferred to the latter, however, the time for making payment for the rendered works/services has not yet come.
2. The supplier has received an advance payment for the delivery of goods, performance of work or provision of services.

Overdue debts are debts for works, services and goods that have not been paid within the period stipulated by the agreement of the parties.

Overdue, in turn, is classified into:

• doubtful;
• hopeless.

The concept of doubtful debts is regulated by the Tax Code of the Russian Federation. According to the provisions of this article, doubtful debts are any debts that have arisen in connection with the completed deliveries, services rendered or goods sold, while the counterparty has not paid within the terms specified by the agreement of the parties and has not secured repayment by one of the means of security - a surety, bank guarantee, collateral.

Doubtful debt is subject to transfer into bad debt on the following grounds:

• the statute of limitations has passed - in general, 3 years;
• the debtor's obligation was terminated due to the impossibility of its performance;
• the debtor company has been liquidated;
• the state or municipal authority has issued a resolution recognizing the debt as uncollectible.

By deadline

Reflection of the type of receivable is important for financial and financial statements enterprises.

Therefore, the debts of counterparties are also divided according to the expected maturities:

• short-term;
• long term.

It is not uncommon for companies to which others have outstanding debts to provide payment deferrals. And depending on the terms for which such deferrals are given, it is customary to divide accounts receivable also by maturity.

Under short-term receivables understand the obligations of counterparties, the repayment of which is expected within 1 year after the reporting date.

Long-term debt is an obligation that is expected to pay more than 1 year after the balance sheet date.

Short-term receivables prevail over long-term ones if considered as a share of the total debt.

To encourage counterparties to make payments on time, companies often resort to various discounts (discounts), for example:

• 10% discount for goods when making an advance payment;
• progressive scheme (for example, when paying in the first 15 days, a 5% discount is provided, from the 16th to the 30th day the discount is not given at all, and after 1 month even a fine is charged in the amount specified in the agreement of the parties).

In addition to the division by terms, the debt of counterparties is classified according to the type of the latter.

So, debts can be formed from the following counterparties:

• customers and buyers;
• budget and off-budget funds;
• persons to whom finances were issued under the report;
• employees who received loans from the enterprise;
• employees who have outstanding debts for material damage caused;
• banks and other financial structures that owe interest on deposit accounts.

Depending on the type of counterparties, receivables are also divided into the following forms:

• a commercial;
• administrative and economic.

A complete diagram of the types of receivables, depending on counterparties, can be seen in the figure below.

Commercial debt is directly related to the main activity of the creditor. Its components:

• prepayments and advances to suppliers;
• deferral of payment for shipped products;
• overpayments for commercial purchases.

Non-commercial (or administrative) accounts receivable are debts that are directly related to financial expenses to ensure the operation of the firm.

The above forms of receivables, in turn, are divided into two types, depending on the causes of occurrence:

• documentary;
• monetary.

The first type is characterized by the fact that the costs are not covered by the primary accounting documentation. The consequence is the distortion of reporting - both accounting and tax, as well as the excessive payment of taxes to the budget.

A cash receivable arises as a result of non-receipt Money from counterparties and is a form of temporary distraction working capital. Consequences - lost profit, illiquidity of the asset received in the future from the counterparty.

Problems

Accounts receivable is not always a positive phenomenon for the economy of a single enterprise. When evaluating the financial and economic performance of a company, special attention should be paid to the type of asset to which the receivable belongs.

Often the following situation occurs. The profit and loss statement of the company speaks of high profitability, that is, the success of the company in the economic market.

At the same time, receivables have a large share in current assets, and financial resources in the accounts of the organization are few or none at all.

If funds are not invested in further growth of production, then this is a negative factor for the enterprise as a whole.

This means that there are simply no funds to pay off debts to other counterparties, as well as to pay employees, pay taxes and fees.

The above cases occur due to a combination of various circumstances. These include both external and internal factors.

External factors:

• the state of the economy of the state as a whole;
• inflation rate;
• quotes of major world currencies;
• other global factors of the economy.

Internal factors:

• ignorance of how to properly manage the debt of counterparties;
• conclusion of transactions on unfavorable terms for the creditor;
• lack of leverage on the debtor;
• non-use of modern methods of stimulating debtors to make payments on time (installment plan, discounting, etc.);
• illiterate conduct of pricing policy in a single company;
• other.

A classic example of the negative impact of an internal factor is when a firm provides counterparties with long periods to repay debt.

Annotation.

To conduct a comprehensive assessment and management of accounts receivable, its classification is of great importance. In modern literature, there are various approaches to this problem, based mainly on the requirements of accounting legislation, as well as the established practice of analyzing receivables. However, such classifications are not fully sufficient to ensure effective management debt. The article presents additional classification features of receivables, allowing to improve the information basis of the analysis, as well as the ability to control and make informed management decisions on the management of receivables.

Key words: accounts receivable, classification features, classification of accounts receivable.

Accounts receivable is an objective consequence of settlement relations in which the time of payment and the moment of transfer of ownership of the object of the contract do not coincide. Accounts receivable is an integral element current assets, determined on a specific date, characterizing the right of the enterprise to receive funds from counterparties for business transactions as a result of past events.

To conduct a comprehensive assessment of accounts receivable, it is necessary to classify it.

By duration, long-term debt is distinguished, the maturity of which exceeds 12 months from the reporting date and short-term debt with a maturity of less than 12 months. In terms of management, such a classification, firstly, makes it possible to identify the main sources of financing receivables, and, secondly, to identify priority tasks for managing the risk of non-repayment.

From the point of view of the timeliness of the fulfillment of obligations under the contract, receivables can be divided into urgent; overdue (claimed and unclaimed); delayed. This classification mainly serves the purpose of accounting control.

The grouping of debts in terms of the composition of debtors makes it possible to classify the debts of debtors according to the sources of their formation, types of obligations, the nature of the debt, and the attitude towards the creditor. As V. Ivashkevich notes, the specifics of the receivables management policy is determined precisely by the economic content of receivables.

Classification of receivables according to the degree of security (unsecured, secured by pledge, surety, bank guarantee) is necessary for the analysis of receivables in terms of the risk of non-payment. At the same time, according to O.V. Rura, the criteria for assessing the level of risk may be the liquidity and value of the collateral provided, the financial condition of the guarantor or guarantor.

If possible, receivables are divided into reliable, doubtful and hopeless. The classification of receivables according to the possibility of their collection is necessary in terms of considering the impact of receivables on the financial result of the enterprise.

Based on the results of the study, Table 1 presents the classification of receivables for various reasons.

Table 1 Classification of receivables

Classification sign	Type of accounts receivable
Duration	Long-term - maturity exceeds 12 months from the reporting date	Notes to the balance sheet and income statement
	Short-term - maturity less than 12 months from the reporting date
Timeliness of repayment of obligations	Urgent (not overdue)	Notes to the balance sheet and income statement. System accounting enterprises – accounting references
	Overdue (claimed and unclaimed)
	delayed	Enterprise accounting system - accounting references
According to the composition of debtors	Indebtedness of buyers and customers	Notes to the balance sheet and income statement. Accounting registers for accounts 60 "Settlements with suppliers and contractors", 62 "Settlements with buyers and customers", 76 “Settlements with various debtors and creditors”, 71 “Settlements with accountable persons”, 79 "Intra-farm settlements", etc.
	Bills receivable
	Debt of subsidiaries and affiliates
	Debt of participants (founders) on contributions to the authorized capital
	Advances issued
	Indebtedness of other debtors
Degree of security	Secured (including pledge, guarantee, bank guarantee, etc.)	Enterprise accounting system - contracts, accounting references.

	Unsecured
Possibility of collection	Reliable	Accounting and legal service information - letters, claims, lawsuits, etc.
	Doubtful
	Hopeless
The expediency of education	Justified	Analytical calculations of the correspondence between the volume of necessary financing and the amount of receivables
	Unjustified
Degree of planning	Planned (foreseen)	Budgets, financial plans
	Not planned (resulting from various unforeseen situations)
Possibility of control	controlled	Subjective information of employees financial services enterprises
	uncontrollable
Degree of liquidity	Highly liquid
	Average liquidity
	Illiquid

The classification presented in Table 1 is typical and reflects the requirements of accounting legislation, as well as the established practice of analyzing receivables. So, it is typical to divide accounts receivable according to the composition of debtors within the framework of the accounts allocated by the Chart of Accounts for accounting of financial and economic activities of organizations. This classification singles out in the composition of receivables the debt of buyers and customers, which for most enterprises has the largest specific gravity in its composition. In this regard, in our opinion, it is advisable to divide receivables into external and internal, that is, based on the nature of their occurrence. External accounts payable, basically, are various forms of a commercial loan provided to an enterprise in the form of a deferred payment for goods (works, services) supplied to it by its counterparties. Taking into account the existing business practice, the following main types of commercial loans can be distinguished: a loan with a deferred payment under the terms of the agreement, a loan with a debt formalized by a bill, a loan under open account, a loan in the form of a consignment.

In turn, as part of external debt, it is advisable to classify by counterparties, which will make it possible to carry out a detailed analysis of receivables, and, therefore, realistically assess its impact on the financial condition of the enterprise. At the same time, it seems possible to use an approach based on the Pareto principles, which consist in the fact that a relatively small number of causes are responsible for the majority of possible outcomes. In its classical form, this is the 20 to 80 rule. In our opinion, it is advisable to distinguish three groups of buyers and customers using the ABC analysis approach: the most important buyers and customers for the enterprise (20%), which account for 80% of all receivables (group A); buyers and customers of medium importance, which account for about 15% of receivables (group B) and buyers and customers that are not important to the enterprise (group C), which account for 5% of all receivables. Such a grouping will allow developing specific debt management measures for each group, as well as identifying the significance and prospects of working with a particular buyer and customer.

Note that the ratio 80:20 is conditional and generalized. In the real practice of a particular enterprise, the ratio may have a different form.

Thus, the proposed additional classification features of receivables are presented in Table.2.

Table 2 Additional classification features of receivables

Classification sign	Type of accounts receivable	Source of information about receivables
Nature of occurrence		Accounting registers
	Internal
Importance of the debtor to	Most important external debtors (Group A), 20% of debtors accounting for 80	Data analytical accounting and results of economic calculations

The presented additional classification features of receivables will improve the information basis of the analysis, as well as the possibility of its control and making informed management decisions on debt management.

Bibliography

1. Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n (as amended on November 8, 2010) “On Approval of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations and Instructions for its Application”.

2. Ivashkevich V. Accounting management accounting. – M.: Master, Infra-M, 2011.

3. Kovalev V.V. Fundamentals of the theory of financial management. Educational and practical guide. – M.: Prospekt, 2014.

4. Petrov A.M. Historical stages in the formation of the methodology and practice of accounting for settlements with debtors and creditors [Electronic resource]. Access mode: http://www.m-economy.ru/art.php?nArtId=1295.

5. Rura O.V. Problematic aspects of the classification of receivables. - Sevastopol: SevNTU, 2012.

6. Tikhonova E.P. Accounts receivable and accounts payable. – M.: Hotline accountant, 2008.

Accounts receivable is understood as the debt of legal entities and individuals (debtors) of this organization. Such debt is also called the requirements of the organization. The debt appears as a result of settlements, monetary relationships arising between the organization and another organization or individual for commodity and non-commodity transactions.

The economic essence of accounts receivable is in the form of funds temporarily diverted from the company's turnover. This distraction can provoke an additional need for resources and lead to a tense financial state.

According to one of them, receivables are part of the organization's asset. This interpretation is based on the balance principle. "Debit" in Latin means "he must", hence the debtor - the debtor or borrower.

V.B. Ivashkevich in the study "Accounting and analysis of receivables and accounts payable"defines receivables as the amount of debts owed to the organization from legal entities or individuals as a result of economic relations between them, or, in other words, the diversion of funds from the organization's turnover and their use by other organizations or individuals.

N.P. Kondrakov under accounts receivable understands the debt of other organizations, employees and individuals of this organization (debt of buyers for purchased products, accountable persons for issued to them under the report sums of money etc.) Organizations and persons who owe this organization are called debtors.

Some domestic and foreign economists consider receivables and payables as a tool for managing the organization's working capital. In their view, receivables represent the investment of funds and the expansion of sales on credit in order to increase the volume of sales and equity.

From the position of the organization's marketing policy, a number of authors interpret receivables as a tool to stimulate demand. Influenced market competition business entities seek to attract as many buyers as possible by providing them with a deferral (installment plan) of payment for purchased goods, which benefits in the form of increased sales. In this case, the receivables are expected and planned within the framework credit policy organizations.

Accounts receivable from a legal standpoint is the capital of the creditor organization, but not always its own. Only when, in the course of economic turnover, the funds held by the debtor organizations are returned to the possession of the creditor organization, they are included in current assets the latter or are sent to pay off its accounts payable. The formation of receivables is initially associated with the provision of money or material assets on credit with their subsequent return.

Accounts receivable can be considered in three senses: firstly, as a means of paying off accounts payable, secondly, as part of the products sold to customers, and thirdly, as one element of current assets, an important part of the working capital of the organization.

Accounts receivable are divided into different types depending on the economic content of the obligations, on the duration (term of provision), on the timeliness of payment.

1. associated with the sale of products, goods, works, services (debts for products, goods, works and services, including those secured by bills of exchange);

2. not related to it (debt on settlements with the budget, on rent, on advances issued, on accrued income, on internal settlements, other debts).

By duration, the debt is divided into:

1. short-term (its maturity is not more than 12 months after the reporting date);

2. long term.

According to the timeliness of payment, receivables can be divided into:

1. normal (the payment deadline has not come);

2. overdue (debt for goods, works, services not paid for within the period established by the contract).

Overdue receivables can be doubtful and uncollectible.

The tax legislation defines doubtful debt: "A doubtful debt is any debt to a taxpayer that has arisen in connection with the sale of goods, the performance of work, the provision of services, if this debt is not repaid within the time period established by the agreement, and is not secured by a pledge, surety, bank guarantee."

Accounting for allowances for doubtful debts:

Currently, organizations are required to create reserves for doubtful debts for settlements with other organizations and citizens for products, goods, works and services, attributing the amounts of reserves to financial results organizations.

The amount of the provision is determined for each doubtful debt, depending on financial condition organization-debtor and assessment of the probability of its debt repayment.

The amount of the allowance for doubtful debts is determined based on the results of the inventory of receivables carried out at the end of the previous reporting (tax) period and is calculated as follows:

for doubtful debts with a maturity of more than 90 days - the amount of the created reserve includes total amount identified on the basis of the inventory of debt;

· from 45 to 90 days (inclusive) - the amount of the reserve includes 50% of the amount identified on the basis of the debt inventory;

· up to 45 days - the amount of the created reserve does not increase.

The amount of the created reserve for doubtful debts cannot exceed 10% of the revenue of the reporting (tax) period, determined in accordance with Art. 249 NK.

The allowance for doubtful debts can be used by the organization solely to cover losses from bad debts.

When forming a reserve in accounting, a posting is made:

1. Debit of account 91 Credit of account 63 "Reserves for doubtful debts" - for the amount of the created reserve.

Repayment of debts at the expense of the created reserve is carried out by posting:

· Debit of account 63 Credit of accounts 62 "Settlements with buyers and customers", 76 "Settlements with different debtors and creditors".

Accounts receivable, for which reserves for doubtful debts are created, are reflected in the balance sheet in a net assessment, i.e. net of the amounts of said reserves. As a consequence, in balance sheet the amount of provisions for doubtful debts is not reflected separately.

Bad debts are recognized as those debts to the organization for which the limitation period has expired, as well as those debts for which the obligation has been terminated due to the impossibility of its performance, or on the basis of an act government agency or liquidation.

Table 1 - Typical accounts receivable entries:

		Account correspondence
	Return to buyers, customers of previously received advances, unnecessarily transferred amounts, payment of penalties and fines
	Reflection of the release of products and goods by an intermediary organization to the buyer
	Acceptance of the right to claim debts of buyers and customers from separate institutions.
	Reflection of debts on the presented settlement documents for sold products and goods. Positive sum differences
	Reflection of debt under the presented settlement documents for the sold fixed assets, inventories and other assets. Reflection of positive sum differences
	Receipt of cash and non-cash money, transfers to pay off buyers' debts. Receiving advance payments and advances. Payment of bills by buyers
	Reflection of offsets for commodity exchange operations
	Offset of advances received and prepayments
	Write-off of doubtful debts at the expense of the previously created reserve
	Write-off of discounted bills after their payment and receipt of a notice from the bank
	Providing a loan to employees by endorsing received bills of exchange
	Transfer of bills of exchange under endorsement as payment of debts to the founders for the payment of income
	Providing claims for late payment of bills. Write-off of buyers' debts upon assignment of the right to claim
	Assignment of the right to claim debt from buyers and customers in favor of separate subdivisions. Transfer of buyers' debts to other assets for trust management

Creditors may be various individuals and legal entities to which the enterprise has debts (obligations) that are subject to payment (repayment).

Accounts payable is the debt of this organization to other organizations, individual entrepreneurs, individuals, including to own employees, formed in the course of settlements for acquired inventories, works and services, in settlements with the budget, in settlements of wages, etc.

We can say that accounts payable is one of the borrowed sources of coverage of current assets. Thus, accounts payable may arise if materials are received by the organization before it has paid for them.

Accounts payable are classified depending on the content of the obligations, the duration and the possibility of fulfilling the obligations.

1. associated with the acquisition of inventories, works, services (debt for purchased products, goods, works and services, including amounts on promissory notes presented for payment);

2. not related to the purchase of inventories, works and services (arrears in settlements with the budget, debts to subsidiaries and affiliates, to the organization's personnel, to participants (founders) for the payment of income, other debts).

Regarding the division of accounts payable into long-term and short-term, the following should be noted. In a broad sense, accounts payable include any debt an organization owes to anyone. Long-term debt includes debt on long-term loans and borrowings. But it is known that loans and credits in Russian accounting and reporting are separated from accounts payable and are classified as long-term and short-term liabilities. However, in many literary sources, from an economic and legal point of view, all types of loan and credit obligations are included in accounts payable.

If it is possible to fulfill obligations to creditors, debt can be divided into normal and overdue.

At the same time, two types of debt can be distinguished as part of overdue accounts payable: debt, the limitation period for which has not expired, and unclaimed debt (with an expired limitation period).

It can be added to this classification that, as part of the obligations of any organization, it is also conditionally possible to distinguish urgent debt (debt to the budget for wages, social insurance and security) and ordinary debt (obligations to subsidiaries and affiliates, advances received, bills payable, other creditors; debt to suppliers).