Payables management: accounting aspect

The features of accounts payable as the main source of economic resources formation to support the solvency of a business entity are studied; the importance of correct assessment and control to ensure the effectiveness of the debt management system. The factors influencing the formation of debt are considered, with a breakdown into external (tax system and tax policy of the state, state of the economy, nature of inflationary processes, state of credit policy relations, monetary policy of the NBU, balance of goods and money supply) and internal (state of payment discipline of the business entity, qualification of employees of the accounting and financial service, nature of settlements, procedure for execution of contracts, volume of debt, volume of activity) factors. The factors influencing the effectiveness of accounts payable management, which should be controlled by the heads of certain departments, are detailed, namely: the availability of complete and reliable information on the terms of debt repayment, assessment of the need for commercial lending, distribution of functional responsibilities, responsibility and control over the presence of overdue debt, regulation of the procedure for working with accounts payable, efficiency of procedures for raising funds by the enterprise. It is proven that the growth of accounts payable of a business entity may be associated with the imperfection of the debt management system, the key elements of information support are the accounting system and proper operational control over the status and dynamics of debt. The provisions of the accounting policy for accounts payable should take into account not only the norms of current legislative and regulatory documents, but also become an effective tool for information support for accounts payable management. It has been proven that the elements of the accounting policy should include the conditions for recognition, assessment at the date of occurrence, repayment and reflection in financial reporting; methods of control over the formation and repayment of individual types of accounts payable; the composition of financial costs associated with attracting and servicing debt; the organization of optimal document flow; a working chart of accounts with detailed information by type of debt, composition and terms of accounts payable; the organization of a center for controlling accounts payable.