Allowance for Doubtful Accounts

From: Cecelia C. Dry (Cecelia.Dry@uvm.edu)
Date: Thu Jan 30 2003 - 10:09:41 EST

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    Can anyone refer me to a good source to use to develop a methodology for substantiating an allowance for doubtful accounts?

    My predecessor in this job apparently traced 100 accounts from start to finish (including eventual placement with a collection agency). This work was done about 5 years ago and has been the basis for the percentages we've used to estimate our allowance for doubtful accounts. The auditors have stated that they want a more up-to-date schedule for supporting our allowance this year. Is there any kind of program out there that might make this task more manageable, or do you all just roll up your sleeves and tic and tie a random sample of your receivables to get actual collections data to please your auditors?

    Any suggestions will be appreciated.

    Best regards,
    Cecelia Dry
    *******************************************
    Cecelia C. Dry
    University of Vermont
    Assistant Controller for University Financial Services
    (802) 656-1340
    Cecelia.Dry@uvm.edu

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