Other Receivables

Code: 1170
👁 Views: 112

Account Information

Financial Statement Statement of Financial Position
Normal Balance Debit

Definition

Various receivables not classified under main customer accounts

Sub-accounts

1171

Employee Travel Advances

1172

Employee Cash Advances

1173

Employee Advances

1174

Tax Refund Receivable

1175

Recoverable Input VAT

1176

Security Deposits

1178

Accrued Revenues

1179

Insurance Claims

1180

Advances to Suppliers

📐 IFRS vs US GAAP Accounting Treatment

IFRS IFRS 9 Financial Instruments
US GAAP ASC 310 Receivables

❓ Frequently Asked Questions

Q: What are Other Receivables?

A: Other Receivables is a grouping account for amounts owed to the company from parties other than regular customers, such as: employee receivables, insurance claims, tax refunds, security deposits, and accrued revenues.

Q: What is the difference between Other Receivables and Accounts Receivable?

A: Accounts Receivable is dedicated to receivables arising from the main operating activity (credit sales of goods or services). Other Receivables includes all other receivables not arising from the main activity.

Q: Is an allowance for doubtful accounts created for Other Receivables?

A: Yes, if some Other Receivables (such as employee receivables or security deposits) are at risk of non-collection, an allowance for doubtful accounts should be created for them using the same method as for customers, in accordance with the prudence principle.