What is account 138? What are the principles and methods of accounting for account 138? Please join Online Accounting to learn more about this account.
I. Structure and content of reflection
1. Reflection content
Account 138 – Other receivables is used to reflect receivables beyond the scope reflected in account 131 – customer receivables and account 136 – internal receivables. The reflection content used in account 138 according to Circular 200 includes the following contents:
- The value of the missing asset has been discovered but the cause has not been determined and is pending processing;
- Receivables for material compensation caused by individuals and groups (both inside and outside the enterprise) such as loss or damage to materials, goods, capital, etc. have been handled by compensation;
- Loans to other parties using non-monetary assets (if loans are made in cash, accountants record them as loans in account 1283);
- Amounts spent on career activities, project expenses, construction investment expenses, production and business expenses but not approved by competent authorities must be recovered;
- Recoverable payments on behalf of the importer and exporter, such as payments made by the importer and exporter on behalf of the principal for bank fees, customs inspection fees, transportation and handling fees, and taxes, etc.;
- Receivables arising from the equitization of state-owned enterprises such as: equitization costs, subsidies for laid-off or unemployed workers, support for retraining of workers in equitized enterprises, etc.;
- Interest, dividends, profits receivable from financial investment activities;
- The amount of money or value of assets that an enterprise uses as collateral, mortgage, deposit, or bet at other enterprises or organizations with economic relations according to the provisions of law;
- Other receivables other than those listed above.
2. Account structure
| Debit Side | Side Yes |
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| Balance: Other outstanding receivables of the enterprise. |
Note:
- Other receivables – 138 may have a credit balance. The credit balance is used to reflect the amount collected is greater than the amount receivable (in special cases and in detailed representation of each specific object);
- Other receivables have 3 sub-accounts:
+ Account 1381 – Assets in shortfall awaiting resolution: Reflects the value of assets in shortfall for unknown reasons, awaiting a resolution decision;
+ Account 1385 – Receivables from equitization: Reflects the receivables from equitization that the enterprise has spent, such as: Equitization costs, allowances for laid-off or unemployed employees, expenses to support retraining of employees in equitized enterprises…;
+ Account 1388 – Other receivables: Reflects the receivables of the enterprise outside the scope of receivables reflected in accounts 131, 133, 136 and accounts 1381, 1385, such as receivables: dividends, profits, interests; compensation for loss of money and assets.
II. Accounting method for account 138
1. Fixed assets
- Debit account 1381 – Other receivables (Remaining value of fixed assets);
- Debit account 214 – Fixed assets (Depreciation value);
- There is account 211 – Fixed assets (Original price).
2. Cash in hand, goods, materials… inventory shortage
- Debit account 1381 – Other receivables;
- There is account 111;
- There are Accounts 152, 153, 155, 156.
3. Loans
- Debit account 1388 – Other receivables;
- There are accounts 111, 112, 152, 153.
4. Accepting entrustment
- Debit account 1388 – Other receivables;
- There are accounts 111, 112…
5. Interest and dividends distributed
- Debit Accounts 111, 112… (Amount of money collected);
- Debit account 1388 – Other receivables;
- There is account 515 – DTHĐTC.
6. When collecting other debts
- Debit accounts 111, 112;
- Credit account 1388 – Other receivables.
7. When paying benefits to employees
- Debit account 1385 – Reflects the amount receivable from equitization;
- There are accounts 111, 112.
8. Expenses in career activities
- Debit accounts 111, 112;
- Credit account 1388 – Other receivables.
III. Questions related to account 138 – Other receivables
1. On October 1, 2022, our company conducted an inventory. During the inspection, we discovered that a fixed asset with an original cost of 30 million VND was missing, and had been fully depreciated by 25 million VND, and the reason for the shortage is unknown. So how does the accountant record this transaction?
At the time of inspection, the enterprise discovers a missing fixed asset but the cause is unknown, so the accountant will now record:
– Debit account 1381: 5,000,000;
– Debit account 214: 25,000,000;
– Credit account 211: 30,000,000.
At the same time, record a decrease in tangible fixed assets in the fixed assets detail book.
2. The company transferred payment for goods to the supplier in the amount of 10,000,000 using the company account, but due to incorrect account information, the amount was refunded. So how should this case be accounted for?
– When a business transfers payment to a supplier:
- Debit account 1388: 10,000,000;
- Credit account 1121: 10,000,000.
– When the bank refunds due to incorrect account information, record:
- Debit account 1121: 10,000,000;
- There are 1388: 10,000,000.