TRADE RECEIVABLES.

Phần 1: Công ty Ingrid bán chịu cho công ty Manfredi 

Phần 2: Công ty Manfredi trả trong hạn 30 ngày

Phần 3: Khuyến khích để khách hàng thanh toán sớm

Phần 4: Khách hàng thất bại trong việc thanh toán

Phần 5: Khoản nợ phải thu khó đòi bị xóa sổ và ảnh hưởng của nó đến lợi nhuận

Phần 6: Lập 1 khoản dự phòng cho khoản nợ  phải thu khó đòi

Phần 7

Phần 8 : kiểm soát khoản nợ

Phần 9: Khách hàng thanh toán khoàn tiền hàng nợ sau khi đã xóa sổ khoản nợ này

 

Bài 1: DISCOUNT

Example 1:

A Ltd sold goods with a list price of $1,500 on credit (bán nợ) to a customer. A Ltd has a 30 day payment period and has offered the customer a 5% prompt payment discount if payment is made within 14 days

Solution:

In accordance with IAS 18 Revenue, the initial sale would have been recorded as debit Receivables $1,500 credit Revenue $1,500. If the customer pays within the 14 day settlement period the accounting entry would be Debit Cash $1,425 Debit Discounts Allowed $75 Credit Receivables $1,500. If the customer pays outwith the 14 day period, A Ltd would record the receipt as Debit Cash $1,500 Credit Receivables $1,500.

Example 2:

J Ltd sold goods with a list Price of $2,000 on credit to a customer. J Ltd has a 30 day payment period and has offered the customer a 3% prompt payment discount if payment is made within 15 days. Based on past experience the customer is expected to take up the 3% discount.

Solution:

The initial sale will be recorded as Debit Receivables $1,940 Credit Revenue $1,940. If the customer pays within the 14 day settlement period the accounting entry would be Debit Cash $1,940 Credit Receivables $1,940. If the customer does not pay within the 14 day period, when payment is made A Ltd would record this as Debit Cash $2,000 Credit Receivables $1,940 Credit Revenue $60.

Bài 2: TRADE RECEIVABLES

Phần 1: Công ty Ingrid bán chịu cho công ty Manfredi

Let’s imagine that Ingrid makes a credit sale of $6,450 to Manfredi. The sale was made on 17 March 20X0 and the goods have been delivered to Manfredi along with an invoice for $6,450. The invoice states that the amount owing should be paid within 30 days from the date of the invoice.

The invoice will be processed through Ingrid’s accounting system. The original entry will be in Ingrid’s Sales Day Book which lists all credit sales chronologically. Total credit sales (including the $6,450) will be posted from the Sales Day Book to the debit of trade receivables account and the credit of sales account – both accounts being in the General Ledger. The $6,450 will also be posted to the debit of a personal account opened for Manfredi and kept in the Receivables Ledger.

In a computerised accounting system, all these accounting entries and the production of the invoice would take place simultaneously.

Manfredi’s account will look something like Table 1 below in the Receivables Ledger.

 

Giải thích:

Tại ngày 17/3 khoản $6450 được ghi trên  :

+ Ingrid’s Sales day book (debit of trade AR account; credit of sales account)

+ Manfredi’s account opened for Manfredi

+ Receivables ledger for Manfredi

Table 1: Manfredi’s account in the receivables ledger

Manfredi’s account shows a debit balance. This is an asset because it ‘is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity’ (IASB Framework for the Preparation and Presentation of Financial Statements, paragraph 40).

 

Here the ‘entity’ is Ingrid’s business, the ‘past event’ is the sale, and the ‘future economic benefits’ are represented by the cash received from Manfredi when he settles the invoice.

The debit balance is also a current asset because it meets the criteria in paragraph 66 of IAS 1, Presentation of Financial Statements. This states that an entity should classify an asset as current when any one of the following applies:

 

Đây là 4 tiêu chuẩn ghi nhận để ghi nhận tài sản ngắn hạn

(a) The entity expects to realise the asset, or intends to sell or consume it, in its normal operating cycle.

(b) The entity holds the asset primarily for the purpose of trading.

(c) The entity expects to realise the asset within 12 months after the reporting period. (tài sản dc mong đợi sử dụng trong 1 năm, trong 1 chu kì sxkd

(d) The asset is cash or a cash equivalent (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period (báo cáo thời kì). (????)

 

In this example, the asset meets criterion (c) because the amount  is payable within 30 days, and also criterion (a) because Ingrid’s normal operating cycle is buying and selling on credit, collecting cash from customers, and paying suppliers.

Phần 2: Công ty Manfredi trả trong hạn 30 ngày

 

If all goes well, Manfredi will keep to the terms of the agreement and Ingrid will receive payment within 30 days. If Manfredi pays on 16 April 20X0, Ingrid will debit this in her Cash Book (in the Bank column) and credit the trade receivables account (in the General Ledger). The payment will also be credited to Manfredi’s account in the Receivables Ledger, as shown in Table 2 below.

 

Table 2: Manfredi’s account in the receivables ledger (post-payment)

 

Phần 3: Khuyến khích để khách hàng thanh toán sớm

ENCOURAGING PROMPT PAYMENT

Sometimes, the entity may give a discount if a customer pays an invoice early. This is to encourage prompt payment by the customer. The accounting entries depend upon whether or not the entity expects the customer to take advantage of the prompt payment/settlement discount:

Th1: Customer is expected to take advantage of discount

For example, let’s suppose that Ingrid allows a 2% discount to Manfredi if the invoice is paid within 14 days – half the normal period of credit. If Ingrid expects that Manfredi will take advantage of the discount, the invoice is issued with the discount already deducted – ie $6,321 (98%) (1) If, subsequently, Manfredi doesn’t pay within 14 days, an invoice for the additional amount (ie $129 representing the discount that was not taken advantage of) is issued on the 31 March (2).

Th2: Customer is not expected to take advantage of discount

In this scenario, Ingrid does not expect Manfredi to pay within 14 days, and so the invoice is issued for the full amount. However, if after the full invoice has been issued, Manfredi then pays within the 14 days. Ingrid can issue a credit note for $129 for the prompt payment/settlement discount.

Giải thích: + A credit note is a document relating to returned goods or refunds when a customer has been overcharged. It can be regarded as a negative invoice.

Phần 4: Khách hàng thất bại trong việc thanh toán

It may be that Manfredi does not pay by the due date. At this point Ingrid should implement (thi hành)  her procedures to monitor (giám sát) and collect overdue (quá hạn) accounts. These should be efficient, fair and legal (yêu cầu). Ingrid may ultimately have to employ the services of a debt collector and/or resort to legal proceedings against Manfredi ( cách xủ lý 1). These procedures are beyond the scope of this article, although some of the basics of good credit control will be covered later (cách xử lý 2).

  1. Chấp nhận khoản nợ này không thu hồi được trong 1 thời gian

However, there may come a time when Ingrid has to accept that the amount due from Manfredi will not be collectible. This might be because, for example, Manfredi has been declared bankrupt or has disappeared and cannot be traced.

At this point, Ingrid is going to have to face the fact that her trade receivable of $6,450 is no longer the asset she thought it was because it is now no longer probable that the economic benefits associated with the transaction will flow to her (IAS 18, paragraph 14 (d) – see above). Suppose that on 28 December 20X0 Ingrid decides to write the amount off  as an irrecoverable debt. This will be recorded in Manfredi’s account in the Receivables Ledger as shown in Table 3 (below).

Table 3: Manfredi’s account in the receivables ledger (irrecoverable debt)

Phần 5: Khoản nợ phải thu khó đòi bị xóa sổ và ảnh hưởng của nó đến lợi nhuận

The original entry for the write off will be in the journal:

Invoice due from customer Manfredi written off as irrecoverable

The amounts will then be posted to the double entry system by debiting irrecoverable debts and crediting trade receivables – both accounts will be in the General Ledger.

The trade receivable now ceases to be an asset and becomes an expense. The adverse effect on profit can be significant (ảnh hưởng). If Ingrid sells her goods  at a uniform gross margin of  30%, the effect of the non-collection of the amount due can be summarised as shown in Table 4.

Table 4: Ingrid sells her goods at a uniform gross margin of 30% (???)

Gross margin= ((Total sales- COGS)/ Total sales)*100

Ingrid will have to make additional sales of $15,050 just to break even (30% of $15,050 = $4,515).

Phần 6: Lập 1 khoản dự phòng cho khoản nợ  phải thu khó đòi

Let us now assume that the financial year end for Ingrid is 31 December 20X0. The irrecoverable debt arising from the sale to Manfredi has been recognised in the same year in which the sale was made. Ingrid may feel that it would be prudent to make an additional charge for irrecoverable debts based on the total of trade receivables as at the end of the year.

Giải thích: Theo nguyên tắc thận trọng thì doanh thu không được ghi cao hơn thực tế và chi phí thì không được ghi thấp hơn so với thực tế

Ingrid expects that a fairly fixed percentage of trade receivables will prove to be uncollectible each year.

Suppose that Ingrid estimates that on average 3% of trade receivables will prove to be uncollectible. This means that if Ingrid’s trade receivables as at 31 December 20X0 totalled $541,800 then she can expect to write off about $16,254 of this in 20X1. It would be appropriate to charge this amount as an expense in the year in which the related sales took place (the matching principle) even though Ingrid will not find out which specific receivables are uncollectible until 20X1.

Giải thích: Theo nguyên tắc phù hợp thì doanh thu phải tương xứng với chi phí

Suppose now that the total trade receivables written off as irrecoverable during 20X0 was $196,201 (this will include Manfredi’s debt). The total amount charged in the income statement for 20X0 will now be:

And the amount included in current assets in the statement of financial position as at the end of 20X0 will be:

This will all be recorded in the ledger accounts as shown in Table 5.

Table 5: Ingrid’s ledger account

Phần 7

OUT WITH THE OLD AND IN WITH THE NEW

We’re not quite finished yet. If 20X0 was not Ingrid’s first year of operation she would have made an allowance for trade receivables at the end of 2009. So, if Ingrid’s trade receivables totalled $400,932 as at 31 December 2009, she would have made an allowance for receivables of $12,028 (3% of $400,932). It is important that this allowance is reversed for 20X0 so that the irrecoverable debts of $12,028 anticipated and charged in 2009 are not charged again in the income statement for 20X0.

The total amount charged in the income statement for 20X0 will now be:

And the amount included in current assets in the statement of financial position as at the end of 20X0 will be unchanged:

The entries in the ledger accounts will be as shown in Table 7

Table 7

If the allowance for receivables had been decreased, the allowance for receivables would have been debited with the decrease and the irrecoverable debts account would have been credited. Here’s an illustration. Suppose that in 20X1 receivables written off as irrecoverable totalled $166,400, and that the allowance for receivables is to be reduced to $15,000. The ledger accounts for 20X1 would be as shown in Table 8

 

 

Table 8

Phần 8 : kiểm soát khoản nợ

CREDIT CONTROL

Earlier we saw that irrecoverable debts can severely decrease profit (and cash flow). It is therefore important that a business does all it can to reduce the incidence of irrecoverable debts. Some think that good credit control is all about chasing up overdue accounts (tài khoản quá hạn) effectively. In fact, good credit control should start much earlier. The following considerations are the foundations of good credit control:

 

Who gets credit?

The initial screening of potential credit customers is important. A credit sale is essentially a free gift to the customer until the invoice is paid. It is no use making a credit sale to a questionable customer just to achieve the sale. The profit is more than wiped out if the customer defaults. On the other hand, over enthusiastic vetting (giám sát) at this stage could result in lost sales to potentially good customers.

 

Terms of credit

These should be set up and agreed in advance. They will include the credit limit (the maximum amount the customer can owe at any point in time), the credit period, whether discount can be claimed for quick payment, if interest is chargeable if the payment terms are not met, and so on. The terms of credit need not be the same for each customer.

 

Administration of billing and collection

Efficiency here will be important. Invoices should be issued quickly and should be accurate. Customers generally will not pay unless, and until, they receive the invoice, so delays in invoicing will result in delays in payment. Errors in invoices also hold things up. The payment patterns of customers should be known, if possible, and invoices issued to take advantage of these. Businesses should also review their procedures for issuing statements and reminders.

Collection of overdue accounts

As mentioned earlier, procedures here need to be systematic, fair, reasonable and within the law. Avoiding the issue of non-payment, or just hopefully sending out computer generated reminders every few months, are unlikely to be effective.

 

On the other hand, threatening a customer might be effective but will most likely land the business in court.

 

 

Phần 9: Khách hàng thanh toán khoàn tiền hàng nợ sau khi đã xóa sổ khoản nợ này

FINALLY, SOME GOOD NEWS!

Having written off Manfredi’s debt in 20X0, Ingrid is surprised to receive a payment of $6,450 from Manfredi in 20X1 along with a letter apologising for the delay. There are two ways to record this.

Method A

Method B

And

Giải thích: Ở kế toán Việt Nam, khoản nợ sau khi xóa sổ đòi được ghi như sau

Nợ Tk: 111/112: $6450

Có TK: 711: $6450

 

The difference between the two methods is that Method B reverses the irrecoverable debt write off.

Method A might be appropriate where a full or part payment is received at the end of bankruptcy proceedings or from a debt collection agency.

Method B might be more suitable when full payment is unexpectedly received from the customer. In this situation, the business should question whether it was a bit too hasty in writing the receivable off in the first place, and review its procedures generally.

Phần Chu trình Lưu ý
 

 

 

 

 

 

Phần 1

Bán hàng chịu cho khách hàng Ghi vào sổ sales day book, receivable ledger, Manfredi’s account opened for Manfredi
Khoản bán chịu cho khách hàng là một khoản phải thu. Đó là 1 khoản tài sản ngắn hạn của doanh nghiệp 4 tiêu chuẩn ghi nhận tài sản ngắn hạn là:

_ Chủ thể mong muốn nhận được tài sản, có xu hướng bán hoặc tiêu thụ nó, các hoạt động sản xuất kinh doanh thông thường

_ Chủ thể giữ tài sản với mục đích thương mại

_ Chủ thể mong muốn sử dụng tài sản trong 1 năm, 1 kì báo cáo kết quả kinh doanh

_ Tài sản là những khoản tiền và tương đương tiền trừ những tài sản bị giới hạn bởi mục đích trao đổi hoặc dùng để làm 1 khoản nợ >12 tháng (sau báo cáo thời kì)

Phần 2 Khoản hàng bán chịu được khách hàng thanh toán trong hạn Công ty ghi nhận doanh thu giá vốn
Phần 3 Có một khoản chiết khấu để khuyến khích khách hàng thanh toán sớm Th1: Khách hàng được mong chờ sẽ thanh toán trong thời gian chiết khấu

+ Hóa đơn phát hành ra sẽ  bao gồm luôn cả khoản chiết khấu

*** Nếu khách hàng không thanh toán trong thời gian hưởng chiết khấu sẽ có một hóa đơn tăng số tiền lên tại ngày cuối tháng

Th2: Khách hàng không được mong chờ sẽ thanh toán trong thời hạn được hưởng chiết khấu thanh toán

+ Lúc này hóa đơn sẽ phát hành với giá trị đầy đủ

*** Nếu khách hàng thanh toán trong thời hạn được hưởng chiết khấu. Công ty sẽ phát hành 1 hóa đơn âm

** Hóa đơn âm là hóa đơn cho việc trả lại hàng bán hoặc hoàn lại quỹ khi khách hàng trả quá.

Phần 4 Khách hàng thất bại trong việc  thanh toán và khoản nợ này không thu hồi được trong 1 khoảng thời gian Khoản phải thu của khách hàng giờ không còn là một tài sản nữa (không có khả năng tạo ra lợi ích kinh tế trong tương lai). Đây được coi là một khoản phải thu khó đòi.
Phần 5 Khoản nợ phải thu khó đòi bị xóa sổ và ảnh hưởng của nó đến lợi nhuận Khoản phải thu giờ sẽ bị tính là 1 khoản chi phí. Và sẽ gây ảnh hưởng đến lợi nhuận (theo bảng 4)
Phần 6 Lập 1 khoản dự phòng cho khoản nợ phải thu khó đòi vào cuối kì Phải trích lập 1 khoản dự phòng vì theo nguyên tắc thận trọng. Doanh thu thì không được cao hơn thực tế và chi phí thì không được ghi thấp hơn so với thực tế.
Phần 7 Khoản dự phòng trên BCKQKD Khoản chi phí dự phòng trong khoản phải thu trên bckqkd= khoản phải thu khách hàng xóa sổ (chi phí khác) – khoản dự phòng phải thu cuối năm ngoái (chi phí quản lý doanh nghiệp) + khoản dự phòng phải thu năm nay (chi phí quản lý doanh nghiệp)

 

Khoản dự phòng trên BCDKT Khoản phải thu – khoản trích lập dự phòng cho các khoản phải thu năm nay
Phần 8 Cách kiểm soát các khaonr bán chịu cho khách hàng 1 cách hiệu quả Luôn phải quy định một số lượng bán chịu tối đa mà mỗi khách hàng có thể nợ trong 1 thời kì

Các khoản nợ này không cần phải giống nhau đối với mỗi khách hàng

_ Hóa đơn phải phát hành 1 cách nhanh chóng và chính xác ( khách hàng thông thường sẽ không trả hàng cho đến khi nhận được hóa đơn. Sự trì hoãn của việc phát hành hóa đơn cũng đồng nghĩa với sự trì hoãn của 1 khoản trả nợ của khách hàng)

 

Phần 9 Khách hàng thanh toán tiền hàng sau khi đã xóa sổ khoản nợ này Nợ Tk: 111/112

Có TK: 711

 

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