ZY Petroleum Engineering Company Accounts Receivable Control Research

For engineering companies,their business is often some large-scale engineering projects,involving a larger amount of transactions,if there is credit sales,the control of accounts receivable is more important.In the actual development and operation process,the control of accounts receivable is an important part of financial management.Only effective management and timely processing of these accounts can promote the healthy and sustainable development of enterprises and reduce the operational risk of enterprises.ZY Petroleum Engineering Company mainly deals in the engineering business of petroleum and related products.In the previous business process,due to long-term credit sales,the total amount of accounts receivable is larger,and the growth of ZY Petroleum Engineering Company also shows negative growth,which seriously affects the sustainable development and operation of the company.This study adopts a combination of theory and case studies.ZY Petroleum Engineering Company’s accounts receivable management and control mainly has the following problems: the existing accounts receivable quantity base is large,occupies a large proportion in the company’s total assets;the accounts receivable management system is not comprehensive,the system implementation is not in place;the evaluation function of indicators is not fully played;the risk management consciousness is not strong,the process is not perfect,and so on.Based on the relevant theories and practical analysis,the main reasons are incomplete management process,outdated management concept,weak legal basis,inconsistent implementation of institutional measures with the actual situation,lack of deep understanding of accounts receivable control,and neglect of management thinking.Therefore,we need to adjust the idea of accounts receivable management and control.In the design of pre-control scheme,we need to improve the evaluation system of customer integrity and clear standards of credit policy;in the design of in-process control scheme,we need to strengthen the examination and approval of credit transactions and select appropriate settlement methods;in the later control scheme,we need to implement accounts receivable.Classified management,strengthening the dynamic tracking of customer information,strengthening bad debt management,strengthening the collection of overdue accounts,regular accounts and feedback,strengthening performance appraisal and accountability,using accounts receivable for mortgage and financing.In the aspect of improving the safeguard measures of management and control,ZY Petroleum Engineering Company should improve the management of accounts receivable from the concept,strengthen the management culture construction of accounts receivable;in the aspect of organizational structure construction,it is necessary to establish a special credit institution,formulate a systematic organizational process of accounts receivable and establish internal audit.Departments: In terms of system guarantee,we should implement the accountability system of accounts receivable management,establish the management education and training mechanism of accounts receivable,and hold regular notification meetings on accounts receivable.