- A description of the situation, which requires the legal analysis, is carried out.
- The circumstances of the case, the presence or absence of documents relevant to the situation are established.
- A full oral communication is conducted in order to establish all the necessary circumstances of the case.
- The client's expectations regarding the results of service provision are established.
- An analysis of the current legislation that regulates the problem is carried out.
- An analysis of judicial practice regarding this issue is carried out.
- The lawyer's personal experience in solving such or similar problems is described.
- The conclusion is described, in which a conclusion is given regarding the impossibility of solving the problem or ways to solve the problem.
- Each way to solve the problem is described separately and is formed in the form of a table indicating the specific actions of the specialist, the term of the service as a whole and each stage separately (if the service consists of stages), the result of the provision of the service or stage, as well as the price of the service or stage.
Write-off of bad debts
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1
Written legal analysis2 UAH 4,560.00
Write-off of bad debt
The "Write-off of bad debt" service is intended for organizations and enterprises that are faced with the impossibility of collecting accounts receivable or payable. This service includes debt analysis, preparation of necessary documents and execution of the write-off procedure.
What does the service of writing off bad debt include?
Writing off bad debt includes the following stages:
- Debt analysis and determination of its badness;
- Preparation of documents for debt write-off;
- Preparation of a tax invoice for writing off accounts payable (sample provided);
- Making accounting entries to write off bad receivables;
- Preparation of a debt write-off report for tax authorities.
Step-by-step procedure for providing the service
- Preliminary consultation. Consultation with the client to determine the amount of debt and its hopelessness.
- Collection of information and documents. Collection of all necessary documents and information to prepare for debt write-off.
- Preparation of documents. Preparation of a package of documents for writing off bad accounts receivable and bad accounts payable. Preparation of a tax invoice for writing off accounts payable (sample).
- Making accounting entries. Making the necessary accounting entries to write off bad debts.
- Preparing a report. Drawing up a debt write-off report and submitting it to the tax authorities.
Terms of Service
The bad debt write-off service can be provided under the following conditions:
- Availability of documents confirming the bad debt (court decisions, reconciliation reports, documents on the counterparty's liquidation, etc.);
- Inability to collect the debt by all available methods;
- Client's consent to the write-off procedure;
- Provision of all necessary information and documents for the write-off procedure.
Procedure for writing off bad debt accounts receivable
The procedure for writing off bad debts includes the following steps:
- Analysis of debt and its classification as bad;
- Preparation of documents and tax invoices;
- Making accounting entries to write off debt;
- Preparing a report and submitting it to the tax authorities.
Writing off bad debts is an important procedure for organizations, allowing them to get rid of debts that cannot be collected. Professional assistance in this matter includes analysis of debt, preparation of all necessary documents and making accounting entries. Contacting qualified specialists ensures the correct and timely execution of all stages of write-off, which helps to avoid tax risks and financial losses.
Assistance of a lawyer in writing off bad debt
Assistance of a lawyer in writing off bad debt consists in providing professional legal support at all stages of the write-off process. Let's consider the main aspects of this assistance.
- Debt analysis. The first step in providing assistance from a lawyer is to analyze the debt. The lawyer assesses the legality of the write-off requirements, classifies the debt as hopeless and checks the availability of all necessary documents to confirm the hopelessness of the debt.
- Preparation of documents. The lawyer helps to collect and prepare all the necessary documents for writing off hopeless accounts receivable and payable. This includes the preparation of a tax invoice for writing off accounts payable (sample), reconciliation reports, court decisions and other documents confirming the impossibility of debt collection.
- Making accounting entries. The lawyer advises the company's accounting department on the necessary accounting entries to write off bad debts and bad debts. This helps to correctly formalize all financial transactions and avoid tax risks.
- Preparing a report. The lawyer helps to draw up a report on debt write-off for submission to the tax authorities. This includes preparing an explanatory note, collecting all supporting documents and preparing a report in accordance with the requirements of tax legislation.
- Representing the client's interests. The lawyer represents the client's interests in the tax authorities when considering issues of debt write-off. He participates in the hearings, provides additional evidence and arguments, protecting the rights and interests of the client.
Terms of assistance
A lawyer's assistance can be provided under the following conditions:
- Availability of documents confirming the hopelessness of the debt (court decisions, reconciliation reports, documents on the liquidation of the counterparty, etc.);
- Inability to collect the debt by all available methods;
- Consent of the client to the write-off procedure;
- Provision of all necessary information and documents for the write-off procedure.
Help A lawyer in writing off bad debts is an important stage in the process of freeing an enterprise from uncollectible debts. Professional support includes debt analysis, preparation of all necessary documents, accounting entries and representation of the client's interests in tax authorities. Contacting qualified specialists ensures the correct and timely execution of all stages of write-off, which helps to avoid tax risks and financial losses.
Questions and Answers
Question
What is write-off of accounts receivable and in what cases is it used?
Answer
Write-off of accounts receivable is the process of removing from the balance sheet of an organization amounts that it cannot collect from debtors. This is used in the case of bad debts, when all possible collection methods have been exhausted.
Question
What transactions are required to write off bad debt?
Answer
Transactions to write off bad debt include debiting account 60 (Settlements with suppliers and contractors) and crediting account 91 (Other income and expenses). It is important to take into account the tax consequences of such a write-off.
Question
How are accounts receivable written off in a budgetary institution?
Answer
Accounts receivable are written off in a budgetary institution based on the order of the manager. A sample order can be found in the relevant regulatory documents. An act of write-off of accounts receivable is also drawn up.
Writing off accounts receivable and payable is an important aspect of accounting that requires careful attention and compliance with regulatory requirements. Proper execution of documents and accounting for tax consequences will help organizations avoid problems with tax authorities and maintain financial reporting in order.
What determines the cost of the bad debt write-off service?
The cost of the bad debt write-off service may vary depending on several key factors . Let's consider the main ones that affect the final price.
- Volume and complexity of debt. The first and most significant factor is the volume and complexity of debt. The larger the amount of accounts receivable and the more complex the structure of accounts payable, the higher the cost of the service. This is due to the need for a more thorough analysis and preparation of relevant documents, such as an act of writing off accounts receivable or an order to write off accounts payable.
- Legal and tax aspects. The process of writing off accounts receivable includes many legal and tax aspects. For example, writing off accounts receivable of budgetary institutions requires a special approach, taking into account specific legal provisions. Similarly, when writing off bad accounts payable, transactions must be made taking into account all tax consequences, including VAT.
- Need for an audit. If an audit is required to write off the debt, this also increases the cost of the service. An audit may be necessary to confirm the hopelessness of the debt and justify its write-off in accounting.
- Documentation. The cost of the service may depend on the amount of work on documentation. For example, preparing a sample order to write off accounts receivable, write-off acts and other necessary documents takes time and a professional approach. This is especially important for budgetary institutions, where each procedure must be strictly regulated.
- Professional qualifications of specialists. The experience and qualifications of the specialists providing the service also play an important role in determining the cost. Highly qualified specialists with experience in writing off accounts receivable and payable can provide higher quality and faster services, which, accordingly, is reflected in their price.
The cost of the bad debt write-off service depends on many factors, including the volume and complexity of the debt, legal and tax aspects, the need for an audit, the amount of paperwork and the qualifications of specialists. Understanding these factors will help you more accurately estimate upcoming costs and choose the right service provider.
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