How is account 138 – Other receivables accounted for? What should accountants pay attention to when working with account 138? The following article by MISA MeInvoice will help you answer this question.
Table of Contents Hide
1. Accounting principles for account 138 – Other receivables
2. Structure and content of account 138 – Other receivables
3. Accounting method for some main transactions of account 138 – Other receivables
3.1. Accounting method for pending asset shortage (Account 1381)
3.2. Accounting method for pledges, mortgages, deposits, and bets (Account 1386)
3.3. Accounting method for other receivables (Account 1388)
3.4. Revaluation of other receivables in foreign currency at the end of the accounting period:
Conclusion
1. Accounting principles for account 138 – Other receivables
Account 138 Other Receivables
Firstly: Account 138 is the account used to reflect receivables beyond the scope reflected in Account 131 – Customer receivables, Account 136 – Internal receivables and the payment status of these receivables, including the following main contents:
– The value of missing assets has been discovered but the enterprise has not yet determined the cause and must wait for processing;
– Amounts that enterprises must collect for hong kong telegram data material compensation caused by individuals and groups (inside and outside the enterprise) such as loss or damage to materials, goods, capital, etc. that have been processed for compensation;
– Amounts that a business lends to another
party in non-monetary relegram channels for news and updates assets (if the loan is in cash, it must be accounted for as a loan in the Account System – 1288 Other investments held to maturity.
– Enterprises’ expenditures on basic construction consumer data investment, production and business costs that are not approved by competent authorities must be recovered;
– Amounts paid by the enterprise on behalf of the enterprise must be recovered, such as amounts paid by the entrusted export and import party on behalf of the entrusted export and import party for bank fees, customs inspection fees, transportation fees, handling fees, taxes, etc.
– Interest from corporate loans, dividends, and profits receivable from financial investment activities;
– The amount of money or value of assets that the enterprise uses as collateral, mortgage, deposit, or bet at other enterprises and organizations in economic relations according to the provisions of law;
– Other receivables that the business must collect other than the above.
Second: Accounting principles for pledges, mortgages, deposits and bets are as follows:
a) Money and assets used as collateral, mortgages, deposits, or bets must be closely monitored and promptly recovered upon the expiration of the mortgage, mortgage, deposit, or bet period. In the event that the enterprise is entitled to receive back deposits or bets that are past the recovery period, the enterprise may set up a provision as for doubtful debts.
b) Enterprises need to monitor in detail the pledges, mortgages, deposits by type, by subject, term, and original currency. When enterprises prepare financial statements, the amounts with a term of less than 12 months are classified as short-term assets; amounts with a term (except in cases where the financial situation report is established according to decreasing liquidity).
