At present, the sale of accounts receivable has not been widely used in China, but with the in-depth development of market economy, I believe that the sale of accounts receivable will be greatly developed in China. Generally speaking, the sale of accounts receivable can be divided into two situations: the sale without recourse and the sale with recourse. The author introduces its accounting treatment with reference to relevant international practices for your reference.
Sales without recourse
Non-recourse sales means that the buyer of accounts receivable, that is, financial institutions, should bear the collection risk of accounts receivable, that is, bear the bad debt loss of accounts receivable, while the seller should bear the loss of sales discounts, sales discounts or sales returns. Therefore, when purchasing accounts receivable, financial institutions will generally reserve a part of the balance according to a certain proportion to make up for the loss of sales discounts, discounts or returns that should be borne by the seller, and then write them off when the sales discounts, discounts or returns actually occur. Therefore, in accounting treatment, the seller's enterprise should increase monetary funds according to the actual money received, and the handling fee paid should be included in the financial expenses. The funds reserved by financial institutions should be included in other receivables to reduce the book value of accounts receivable. When financial institutions actually receive accounts receivable, they will make final settlement with the seller's enterprise according to the actual situation of sales discount, discount or return.
For example, on June 5438+1 October12004, an enterprise sold 500,000 yuan of accounts receivable to a local bank without recourse, and the bank charged a handling fee of 4% of the face value of accounts receivable, and reserved an account of 5% of the face value of accounts receivable for possible sales discounts, discounts or returns; On May/KOOC-0/0, 2004, the paid-in account of the bank was RMB 480,000, resulting in sales discount, profit-making and sales refund of RMB/KOOC-0/7550 (including tax, VAT rate of RMB/KOOC-0/7%), and the actual bad debt loss was RMB 2,450; On June 1 day, 2004, the final settlement was made between the enterprise and the bank. According to the above information, the accounting treatment of this enterprise is as follows:
1.2004 1.00 Sale of accounts receivable.
Debit: the bank deposit is 455,000 yuan.
Other receivables 25000
Financial expenses 20000
Loan: accounts receivable: 500,000 yuan.
2. On May, 2004, 10/0 received the payment for goods, which actually resulted in sales discounts, concessions and sales returns.
Debit: product sales revenue 15000.
Taxes payable-VAT payable (output tax) 2550
Loans: other receivables 17550
3. The final settlement was made with China Industrial and Commercial Bank on June 1 2004.
Debit: Bank deposit 7450
Credit: Other receivables 7450
Have recourse to sell
The sale with recourse means that the seller's enterprise should bear the responsibility of paying the buyer, that is, the financial institution, and any bad debt loss on the sold accounts receivable should be borne by the seller's enterprise. Because financial institutions have recourse to unpaid accounts receivable, there are two different accounting treatment methods for this kind of sales business according to its nature: one is to treat it as a sales business, that is, to write off accounts receivable when the transaction occurs, and at the same time to confirm the handling fees charged by financial institutions as current expenses; Second, it is treated as a loan business, that is, accounts receivable are not written off when the transaction occurs, but a liability account is added, which is generally recorded in other payables or notes payable. As the financing cost, the handling fees charged by financial institutions need to be amortized during the holding period of accounts receivable.
According to the previous example, assuming that the sold accounts receivable have recourse, the following accounts are handled according to the sales business and loan business respectively.
1. By sales business
(1) The accounts receivable were sold on June 65438+ 10/day, 2004, and the accounting entries were the same as before.
(2) On June 5438+1 October 20041,the provision for bad debts was set aside at 5‰ of the book value of accounts receivable. When 500 yuan (500,000× 5 ‰) was sold, the accounts receivable had been written off, so the account of "other accounts receivable" could be written off directly.
Debit: management fee 2500.
Credit: Other receivables 2500
(3) When the money received on May 10, 2004 actually leads to sales discounts, discounts and sales returns, the accounting entries are the same as before, and 50 yuan (2500-2450) whose bad debt reserve has been overdrawn shall be written off.
Debit: Other receivables 50
Loan: management fee is 50h.
(4) Final settlement was made with the bank on June 1 2004.
Debit: Bank 5000 (25000- 17550-2450).
Credit: other receivables 5000.
2. According to the loan business.
(1) June 2004 65438+1October1,the accounts receivable were sold and the proceeds were obtained.
Other receivables 25000
Prepaid fee 20000
Loan: Other payables are 500,000 yuan.
(2) In June 2004, 65438+1October, 65438+1October, 2500 yuan was set aside for bad debts. Since the accounts receivable have not been written off, they should be recorded in the "bad debt reserve" account first, and then written off when the bad debt loss actually occurs.
Debit: management fee 2500.
Loan: bad debt reserve 2500
(3) Amortize the handling fee from June to May, 2004.
Debit: the financial expenses are 4000 yuan.
Loan: prepaid expenses of 4000 yuan.
(4) In case of sales discount, discount or payment back on May 10, 2004, the accounting entries are the same as above, and the actual bad debt loss shall be dealt with accordingly. Debit: bad debt reserve 2450
Credit: Other receivables 2450
And write off the surplus provision for doubtful debts and 50 yuan.
Debit: bad debt reserve 50
Loan: management fee 50
Debit: Other payables are 500,000 yuan.
Loan: accounts receivable: 500,000 yuan.
(5) When the final settlement was made with the bank on June 1 2004, the accounting entries were the same as before.
The accounting treatment of the above two methods is based on the assumption that customers who are in arrears can pay in time. If the defaulting customer fails to pay in time, the seller's enterprise shall bear joint liability and be responsible for the payment. At this time, the corresponding accounting treatment should be carried out.
According to the previous example, according to the sales business, customers who owe money due can't pay. If there are enough funds in the seller's enterprise deposit account, the financial institution can directly deduct the money, that is:
Debit: accounts receivable 500,000.
Loan: 475,000 yuan in bank deposit.
Other receivables 25000
If the balance of the seller's enterprise deposit account is insufficient and cannot be paid with monetary funds, it shall be treated as overdue loan, that is, borrowing 500,000 accounts receivable.
Loan: Short-term loan is 475,000 yuan.
Other receivables 25000
Similarly, according to the previous example, it is treated as a loan business. If the defaulting customer fails to pay in time, the financial institution will directly deduct the money, that is, borrow 500,000 yuan from other payables.
Loan: 475,000 yuan in bank deposit.
Other receivables 25000
When the balance of the seller's enterprise deposit account is insufficient and the financial institution cannot directly deduct the money, the overdue loan shall also be handled, namely:
Debit: Other payables are 500,000 yuan.
Loan: Short-term loan is 475,000 yuan.
Other receivables 25000
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