IMPROVEMENT OF ACCOUNTING AND MANAGEMENT OF ACCOUNTS PAYABLE OF THE ENTERPRISE IN CONDITIONS OF INSTABILITY

Abstract

Approaches and methods of managing the accounts payable of economic entities in conditions of instability and uncertainty are presented. The analysis of the state and structure of the current accounts payable of enterprises in Ukraine is carried out. The main stages of accounting are defined, and the directions and ways of optimizing accounting processes are presented. A comprehensive approach to solving problems with financial and accounting discipline, systematic late payments of suppliers’ and contractors’ invoices is singled out. The constituent elements and tools of organizational and methodical support of accounting processes, formation of financial and management reporting, as well as management of accounts payable are disclosed. The general structure of the enterprise’s accounts payable is presented with the three main features highlighted: by urgency of payment, by importance of payment, and by conditions of general payment. To display information in terms of types of accounts payable, it is recommended to use accounts of the third order. It is determined that the analytical and control component occupies a leading position in the mechanisms of managing the company’s accounts payable and contributes to its timely repayment under the crisis. In order to effectively control the timely repayment of liabilities and manage accounts payable, a table document template is proposed for systematizing data on payables in terms of contracts and its repayment terms. The methodical toolkit for the analysis of liabilities is singled out. Ways to improve an accounting process of the accounts payable are proposed, which will contribute to timely, reliable and complete display of data, formation and provision of information to representatives of the management system for decision-making. The advantages of exchanging documents in electronic form are presented in the context of digitization of business processes, in particular, the process of agreement, confirmation of orders, their logistics, electronic receipt of bills (invoices), and confirmation of their payment. Models of supplier selection and directions for optimization of creditor data processing are described, which are aimed at creating the image of a reliable and responsible business partner, as well as establishing all processes of management of accounts payable at the enterprise.