THE INFLUENCE AND ROLE OF RECEIVABLES IN THE ECONOMIC DEVELOPMENT OF THE ENTERPRISE

Abstract

The article is devoted to topical issues of receivables. Accounts receivable have a significant impact on the development of any enterprise and the state as a whole. It plays an important role in the orderliness of information, truthfulness and transparency of transactions and documents with debt rights. Today in accounting settlements with debtors affect the economic and production development of any enterprise, as they promote timely settlements with partners in accordance with the terms specified in the contract. Accounts receivable also help to improve the financial condition of the enterprise. Thanks to the timely repayment of receivables, the company is able to reduce the deficit of its working capital. That is why most companies are now organizing an effective accounting system and a good system of internal control. Accounts receivable are one of the types of financial assets of the enterprise, which can be sold, transferred, exchanged for property, products, results of work or services. Depending on the amount of receivables, the timing of its repayment, as well as the probability of non-repayment of debt, we can conclude about the state of working capital of the enterprise and trends in its development. As the amount of receivables increases, there is a need to manage receivables. In modern business conditions, the development of effective methods of receivables management is one of the main problems in solving the problems of the enterprise from the standpoint of ensuring financial security and achieving positive results in financial rehabilitation. Effective receivables management has a major impact on an entity's liquidity and, consequently, on strengthening its overall financial position. Existing ways of repaying receivables will facilitate the effective repayment of debts and the release of sums of money. That is why effective management of receivables is a necessary condition for successful operation, as it creates the conditions for rapid business growth and increase the financial capabilities of the enterprise.