Write-off of receivables to be recognized as a hopeless after the expiration of the limitation period, in accordance with Article 196 of the Civil Code of the Russian Federation.
The legislation is regulated by the general limitation period of three years which may be interrupted in the event of partial payment or netting the resulting debt.
Check out the claim. 77-78 Regulations on accounting and reporting, approved by Order No. 34n of the RF Ministry of Finance dated 29 July 1998. This provision establishes the procedure and grounds for cancellation of debts with expired limitation period.
Take inventory accountsCompany debt. Ideally, you need to carry out an inventory on a quarterly basis. Check out Section 2.1 of Methodical instructions on inventory of property and financial obligations of the organization.
Make an order indicating the number and dateperform this test. Make the "Act inventory of settlements with suppliers, customers and other creditors and debtors", which use the form INV-17, approved by the State Statistics Committee of the Russian Federation №88 from August 18, 1998.
Make a written justification and orders on behalf of thehead of the company of the need to write-off the debt identified in the inventory with expired limitation period. Blame for the implementation of the orders of the chief accountant of the organization.
Including amounts receivable fromstatute of limitations expired for the other costs the company to the largest, which is reflected in the accounting records of the enterprise, on the basis of claim 11 PBU 10/99 "Expenses of the organization." Debt cancellation occurs by opening the debit of the account 91 "Other income and expenses", the formation of a sub-account 91-2 "Other expenses" and the creation of a credit on the account 62 "Settlements with buyers and customers."
Remember that debt relief is not a lossIt is a basis for cancellation of the debt. For the balance sheet, this debt should be registered within five years from the retirement date. This will determine the possibility of repayment in the event of changes in the property status of the debtor. & Nbsp-