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It enables the enterprise to compare the real collection period with the granted/theoretical credit period. Debtor collection period = Average debtors / Credit sales × number of days 365 (average debtors = debtors at the beginning of the year + debtors at the end of the year, divided by 2 or Debtors + Bills Receivables)
The debtors days ratio measures how quickly cash is being collected from debtors. The longer it takes for a company to collect, the greater the number of debtors days. [1] Debtor days can also be referred to as debtor collection period. Another common ratio is the creditors days ratio.
Days payable outstanding (DPO) is an efficiency ratio that measures the average number of days a company takes to pay its suppliers.. The formula for DPO is: = / / where ending A/P is the accounts payable balance at the end of the accounting period being considered and Purchase/day is calculated by dividing the total cost of goods sold per year by 365 days.
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Account software (such as Quickbooks) makes tracking and organizing your business income and expenses easy. You can record business income and review quarterly statements.