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Nontrade Receivables Explained

Nontrade receivables are income received by a company from sources other than regular product or service sales, such as employee loans, wage advances, tax refunds, interest payments, and insurance claims. They do not require an invoice and are classified as current assets but can be moved to noncurrent assets if payment is expected to take over a year.

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Jolianne SalvadoOfc
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57 views1 page

Nontrade Receivables Explained

Nontrade receivables are income received by a company from sources other than regular product or service sales, such as employee loans, wage advances, tax refunds, interest payments, and insurance claims. They do not require an invoice and are classified as current assets but can be moved to noncurrent assets if payment is expected to take over a year.

Uploaded by

Jolianne SalvadoOfc
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What Are Nontrade Receivables?

Nontrade receivables are income a company receives from sources other


than regular product or service sales. Consider nontrade receivables to be
items that did not require the generation of an invoice. They include:

 Employee loans

 Wage advances

 Income tax refunds

 Interest payments

 Insurance claims

Nontrade receivables are also classified as current assets; however, they can
be moved into noncurrent assets if payment is expected to take more than a
year.

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