Write-off of accounts receivable 007 account. Writing off accounts receivable to an off-balance sheet account

The current accounting legislation provides for the need to reflect on the balance sheet (in account 007) any receivables written off at a loss due to the insolvency of debtors (see below the Chart of Accounts and Instructions for its application). Therefore, the off-balance sheet set 007 should reflect, among other things, written off receivables from employees and written off receivables for taxes.

The rationale for this position is given below in the materials of the Glavbukh System"

The organization must promptly write off bad debts in accounting and recognize them in tax accounting.

Cases of accounts receivable

In accounting, reflect the write-off of accounts receivable from the reserve for doubtful debts by posting:

Debit 63 Credit 62 (58-3, 71, 73, 76...)
– accounts receivable are written off at the expense of the created reserve.

The reserve can be used only within the reserved amounts. If during the year the amount of expenses for debt write-off exceeds the amount of the created reserve, reflect the difference as part of other expenses (clause 11 of PBU 10/99).

When writing off the difference, make the following entry:

Debit 91-2 Credit 62 (58-3, 71, 73, 76...)
– accounts receivable not covered by the reserve are written off.

Writing off receivables for which the statute of limitations has expired, or other debts that are unrealistic to collect, does not constitute cancellation of the debt. Therefore, within five years from the date of write-off, reflect it on the balance sheet in account 007 “Debt of insolvent debtors written off at a loss” (Instructions for the chart of accounts):

Debit 007
– written off receivables are reflected.*

During this period, monitor the possibility of its recovery if the debtor’s property status changes (clause 77 of the Regulations on Accounting and Reporting).

Sergey Razgulin,

Actual State Councilor of the Russian Federation, 3rd class

2. Order of the Ministry of Finance of Russia dated October 31, 2000 No. 94N “On approval of the Chart of Accounts for accounting of financial and economic activities of organizations and instructions for its application”

Account 007 "Debt of insolvent debtors written off at a loss"

Account 007 “Debt of insolvent debtors written off at a loss” is intended to summarize information on the status of receivables written off at a loss due to the insolvency of debtors. This debt must be kept on the balance sheet for five years from the date of write-off to monitor the possibility of its collection in the event of a change in the property status of the debtors.*

Amounts received in order to collect debts previously written off at a loss are debited

Account 007 “Debt of insolvent debtors written off at a loss” is intended to summarize information about the state of receivables written off at a loss due to the insolvency of debtors. This debt must be kept on the balance sheet for five years from the date of write-off in order to monitor the possibility of its collection in the event of a change in the financial situation of the debtors.

Amounts received in order to collect debts previously written off at a loss are debited bills 50"Cash", "Currency accounts" or "Currency accounts" in correspondence with score 91"Other income and expenses." At the same time, off-balance sheet account 007 “Debt of insolvent debtors written off at a loss” is credited for the indicated amounts.

Analytical accounting for account 007 “Debt of insolvent debtors written off at a loss” is maintained for each debtor whose debt is written off at a loss, and for each debt written off at a loss.

Application of the chart of accounts: account 007

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All the above reasons * (7). Inventory of accounts receivable must be carried out according to the rules... debt. This debt should be reflected on the balance sheet in account 007 “Debt of insolvent debtors written off at a loss” within... within five years from the date of write-off for... GARANT consulting, March 2019)). *(7) In accounting policies for accounting purposes...
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Account 007 “Debt of insolvent debtors written off at a loss”, intended to summarize information on the status of receivables written off due to the insolvency of debtors. B... was handed over to the carrier on February 7. The foreign buyer repaid the debt on February 12. According to... February - 30.40 rubles/USD; - February 7 - 30.50 rubles/USD ... The actual cost of goods shipped is reflected on February 7 62 90-1 305 ...
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Accounting goals (clauses 6 and 7 PBU 1/2008 “Accounting... accounting goals (clauses 6 and 7 PBU 1/2008 Accounting... is impossible (clause 77 of the Regulations). Write-off of receivables is possible only if corresponding to... account 007 “Debt of insolvent debtors written off at a loss” An entry is made: DEBIT 007 - written off receivables are reflected in... the policy for accounting purposes (clause 7 of PBU 1/2008).
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The organization has uncollectible accounts receivable in an off-balance sheet account. Is it possible to write off this debt and how to reflect this operation in accounting - read the article.

Question: The chart of accounts for account 007 says “This debt should be taken into account on the balance sheet for five years from the date of write-off to monitor the possibility of its collection in the event of a change in the property status of the debtors.” If the business ceases, it is impossible to collect the debt. In such a situation, can we write off the bad debt from the off-balance sheet account?

Answer: To summarize information about the status of receivables written off at a loss due to the insolvency of debtors, the Instructions for using the Chart of Accounts provide off-balance sheet account 007 “Debt of insolvent debtors written off at a loss.”

Analytical accounting for account 007 “Debt of insolvent debtors written off at a loss” is maintained for each debtor whose debt is written off at a loss, and for each debt written off at a loss. Accounting is organized in monetary terms.

To account for accounts receivable written off at a loss due to the insolvency of debtors, the following entry is made in accounting:

Debit 007 “Debt of insolvent debtors written off at a loss”
- accrued accounts receivable, written off at a loss due to the insolvency of debtors.

Paragraph 77 of the Order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n “On approval of the Regulations on accounting and financial reporting in the Russian Federation” directly states that the debt must be reflected on the balance sheet within five years from the date of write-off to monitor the possibility of collection in case of a change in the debtor's property status.

Since after the liquidation of the debtor, property relations and obligations under it are terminated, then on the date of making an entry in the Unified State Register of Legal Entities in the accounting of the former debtor, the debt should be written off from the balance sheet.

Rationale

From Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n “On approval of the Chart of Accounts for accounting of financial and economic activities of organizations and Instructions for its application”

Account 007 "Debt written off at a loss

insolvent debtors"

For amounts received in order to collect debts previously written off at a loss, accounts 50 “Cash”, 51 “Cash Accounts” or 52 “Currency Accounts” are debited in correspondence with account 91 “Other income and expenses”. At the same time, off-balance sheet account 007 “Debt of insolvent debtors written off at a loss” is credited for the indicated amounts.

Analytical accounting for account 007 “Debt of insolvent debtors written off at a loss” is maintained for each debtor whose debt is written off at a loss, and for each debt written off at a loss.

Insolvent Debtors account designed to summarize information about the status of receivables written off at a loss due to the insolvency of sources. This debt must be kept on the balance sheet for 5 years from the date of write-off in order to monitor the possibility of its collection in the event of a change in the debtor's property status.

Dictionary of business terms. Akademik.ru. 2001.

See what “Account 007 Indebtedness of Insolvent Debtors Written Off at a Loss” is in other dictionaries:

Dictionary of business terms

ACCOUNT 007 WRITTEN OFF AS A LOSS DEBT OF INSOLVENT DEBBITORS, OFF-BALANCE SHEET- an account intended to summarize information about the status of receivables written off at a loss due to the insolvency of sources. This debt must be taken into account on the balance sheet within 5 years from the date of write-off for... ... Large economic dictionary

007 account- Account 007 “Debt of insolvent debtors written off at a loss” is intended to summarize information on the status of receivables written off at a loss due to the insolvency of debtors. This debt must... Accounting Encyclopedia

Chart of accounts- a system of accounting accounts, providing for their number, grouping and digital designation depending on the objects and purposes of accounting. The Chart of Accounts includes synthetic accounts of the first order and subaccounts or accounts of the second order.... ... Accounting Encyclopedia

Chart of accounts is a system of accounting accounts, providing for their number, grouping and digital designation depending on the objects and purposes of accounting. The Chart of Accounts includes both synthetic (first order accounts) and related ones... ... Wikipedia

Write-off receivables must be reflected for 5 years on off-balance sheet account 007 in accordance with accounting legislation.

Does this requirement apply when writing off debt for bankrupt enterprises, if the debt was written off on the basis of an extract confirming the exclusion of the debtor from the Unified State Register of Legal Entities?

The procedure for accounting by an organization of accounts receivable on account 007 is regulated by:

Order of the Ministry of Finance of the Russian Federation dated July 29, 1998 N 34n “On approval of the Regulations on accounting and financial reporting in the Russian Federation” - hereinafter Order N 34n;

Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 N 94n “On approval of the Chart of Accounts for accounting of financial and economic activities of organizations and instructions for its application” - hereinafter Order N 94n;

Accounting policy of the organization.

In accordance with paragraph 77 of Order No. 34n:

“Receivables for which the statute of limitations has expired, and other debts that are unrealistic for collection, are written off for each obligation based on the inventory data, written justification and order (instruction) of the head of the organization and are charged accordingly to the reserve for doubtful debts or to the financial results from a commercial organization, if during the period preceding the reporting period, the amounts of these debts were not reserved in the manner prescribed by paragraph 70 of these Regulations, or to increase expenses from a non-profit organization.

Writing off a debt at a loss due to the debtor's insolvency does not constitute cancellation of the debt. This debt must be reflected on the balance sheet for five years from the date of write-off in order to monitor the possibility of its collection in the event of a change in the debtor’s property situation.”

In accordance with the Instructions for the use of the Chart of Accounts, approved. By Order No. 94n:

"Account 007 "Debt of insolvent debtors written off at a loss" is intended to summarize information on the state of receivables written off at a loss due to the insolvency of debtors. This debt must be taken into account on the balance sheet within five years from the date of write-off to monitor the possibility of its collection in the event of a change in property debtors' positions:

The organization's accounting policy may regulate additional features of analytical accounting, for example, separate accounting of various types of debts: by the reasons for their occurrence, by the date of occurrence, etc.

Conclusion

In accordance with accounting regulations, accounting in off-balance sheet account 007 implies:

A) presence of a debtor;

B) presence of debt;

C) the presence of potential debt collection.

According to Art. 419 of the Civil Code of the Russian Federation, upon the liquidation of a legal entity, the obligation is terminated, except in cases where the law or other legal acts assign the fulfillment of the obligation of the liquidated legal entity to another person (for claims for compensation for harm caused to life or health, etc.).

Because making an entry in the Unified State Register of Legal Entities means the liquidation of the debtor, the consequence of which is the termination of the debt; therefore, there are no corresponding accounting objects for accounting on the off-balance sheet account.

Conclusion

During the liquidation of an organization, there are no accounting objects (debt, debtor) to be reflected in off-balance sheet account 007 “Debt of insolvent debtors written off at a loss”, therefore there is no basis for the formation of appropriate accounting records.

According to paragraph 8 of Art. 22 of the Federal Law of 08.08.2001 N 129-FZ "On state registration of legal entities and individual entrepreneurs":

"The exclusion of an inactive legal entity from the unified state register of legal entities may be appealed by creditors or other persons whose rights and legitimate interests are affected in connection with the exclusion of an inactive legal entity from the unified state register of legal entities, within a year*(1) from the day when they learned or should have learned about the violation of their rights."

The basis for declaring an act of the registering body on the exclusion of an inactive legal entity from the Register invalid is the inconsistency of this act with the law, other legal acts and its violation of the rights and legally protected interests of a citizen or legal entity (Article 13 of the Civil Code of the Russian Federation).