In addition, a comprehensive review of the receivable and payable accounts is being conducted to prevent netting off of the accounts payable against the accounts receivable and vice versa.

Accounts receivable and accounts payable

Apart from the estimated uncollectable amounts, recorded under the provision for doubtful accounts receivable, we expect all significant accounts receivable at 31 December 2004 to be collected.

All commitments against resources of future financial periods have been disclosed as required by the United Nations System Accounting Standards.

(i) Accounts receivable other

(e) Accounts receivable other

Accounts receivable are presented in Statement II net of a provision of 2,581,147 for doubtful accounts receivable comprising

Note 12 Other receivables

Accounts receivable are presented in statement II, net of a provision of 2,581,147 for doubtful accounts receivable comprising

It would also be responsible for the monthly reconciliation of receivable and revenue accounts.

A further investigation was performed by the Department of Peacekeeping Operations in conjunction with the Office of Internal Oversight Services for the period from 1 January 2004 to 18 October 2005.

Note 6 Provision for accounts receivable

Note 6 Provision for accounts receivable

Interest income accrued from cash and term deposits not maturing until future periods is recorded as accounts receivable.

Provision for uncollectible contributions receivable

(ii) it is required to list the proportion of the amount of receivables of different ages (less than one year, 1 2 year, 2 3 years and more than three years) to the total amount of receivables, and the amount and proportion of overdue receivables and

As mentioned, above, the accounts receivable function would be transferred from the Payments Unit to the Accounts Unit.

Provision is made for account receivables for which no reasonable expectation of recovery exists.

(iv) Inter fund balances reflect transactions between funds and are included in the amounts due to and from the United Nations General Fund.

A provision for a possible write off of this receivable is included in accounts payable.

(a) The Registrar may, after full investigation, authorize the writing off of losses of cash and the book value of accounts and receivables deemed to be irrecoverable.

(t) Account debtor means a person liable for payment of a receivable.

UNDP has designed the accounts receivable report.

Writing off of losses of cash and receivables

Voluntary contributions receivable and unrecorded liabilities

In paragraph 66, the Board recommended that the Private Sector Division review its policy on the determination of the provision for uncollectible accounts receivable and ensure that it excludes written off receivables from provisions for uncollectible receivables.

There were large balances of unliquidated obligations and accounts receivable.

Provision is made for accounts receivable for which no reasonable expectation of recovery exists.

Write off of losses of cash, receivables and property

Write off of losses of cash, receivables and property

(e) Harmonized and streamlined procedures for monitoring receivables and remittances.

The Private Sector Division will continue its rigorous monitoring and collection of accounts receivables.

The Finance Section has instituted measures to ensure that the accounts receivable and accounts payable are separated and posted in the respective accounts when first entering transactions in the accounting system.

This system supports UNOPS accounts receivable, accounts payable, purchasing fixed asset, project accounting, general ledger, payroll, and human resource functions.

Interest income and dividends are recorded on an accrual basis and foreign taxes withheld are recorded as receivables.

(a) Assets had been identified for transfer to UNOTIL or other missions or for donation

(d) If the account debtor receives notification of more than one assignment of the same receivable made by the same assignor, it is discharged by paying in accordance with the first notification received

UNICEF agrees to review the policy of the Private Sector Division on the determination of the provision for uncollectible accounts receivable and to ensure that the provision excludes receivables that have been written off.

A fully developed receivables function would create a clearly defined recovery process which would then be managed independently of the payment process.

In paragraph 73 of the report, UNDP agreed with the Board's reiterated recommendation that it review on a regular basis the complete ageing of accounts receivable with a view to collecting long outstanding amounts.

Accounts payable

The Board reiterates its recommendation that the Administration ensure that missions improve the management of long outstanding accounts receivable and review their systems to ensure the accurate ageing of accounts receivable.

(c) All moneys received shall be deposited in an official bank account as soon as practicable.

(See also rule 110.9 with respect to the writing off of losses of cash and receivables.

The aggregate of accounts receivable, advances and deposits as at 31 December 2003 totalled 7,109,934.