What is included in other receivables is as follows:
Other receivables refers to all kinds of receivables and provisional payments other than accounts receivable, notes receivable, prepayments and so on. The following are a few common situations that are included in other receivables:
Employee personal loans: employees borrow money from the enterprise for personal reasons, including borrowing money for business trips, official business, life and other reasons, which need to be returned within a certain period of time.
Deposits and security deposits: enterprises may need to collect a certain amount of deposits or security deposits from customers or landlords when carrying out business or leasing housing, equipment, etc. These amounts need to be returned to the customer or landlord at the end of the contract.
Advances on behalf of employees: The company advances certain expenses to employees, such as medical bills, rent, utilities, etc. These advances are required for a certain period of time. These advances need to be returned to the business within a certain period of time.
Compensation and fines receivable: when the enterprise needs to pay compensation or fines for some reasons, but these payments have not been paid to the other party, it will form the enterprise's other receivables.
All kinds of compensation receivable: In the course of conducting business, enterprises may need to pay compensation to customers or other parties for some reasons. When these payouts are not yet paid to the other party, they form other receivables of the enterprise.
Other receivables: in addition to the above listed cases, there are other receivables and provisional payments, such as the enterprise for customers to purchase goods and collect the purchase money.
It should be noted that enterprises should account for and record other receivables in accordance with the requirements of accounting standards to ensure that they accurately reflect the financial position and operating results of the enterprise. At the same time, for other receivables that have been pending for a long time, enterprises should carry out timely cleanup and collection to avoid the formation of bad debt losses.