Errors in Considering the Credibility of Debtors

Oct 13, 2025 by recoveryshake.com 58 views

Internal Supervision of Accounts Receivables at PT (Persero) Pelabuhan Indonesia I Belawan Branch: Challenges and Solutions

Introduction

PT (Persero) Pelabuhan Indonesia I Belawan Branch, a leading port management company in Indonesia, has been facing a significant challenge in managing its accounts receivable. As of December 31, 2003, the company had uncollectible accounts receivable valued at Rp. 617,559,920, which had matured more than two years. This burden has undermined the company's financial health, making it essential to address the issue of internal supervision of accounts receivables. This article discusses the challenges faced by PT (Persero) Pelabuhan Indonesia I Belawan Branch in managing its accounts receivable and presents solutions to overcome these challenges.

Challenges in Internal Supervision of Accounts Receivables

The research conducted using a descriptive method revealed several weaknesses in the internal supervision of accounts receivables at PT (Persero) Pelabuhan Indonesia I Belawan Branch. These weaknesses include:

Errors in Considering the Credibility of Debtors

The company is not optimal in conducting an assessment of the credibility of the debtor. Important factors such as 5K (character, capacity, capital, collateral, and condition) have not been fully considered in the process of credit granting. This lack of thoroughness in assessing the credibility of debtors has led to a significant number of uncollectible accounts receivable.

Corporate Policies that are Ignored

There are several internal policies that are not implemented consistently in the billing process, thus causing a gap for the arrears of receivables. This lack of consistency in implementing corporate policies has resulted in a delay in the billing process, leading to a significant amount of uncollectible accounts receivable.

Slow Billing Procedures

The process of billing accounts receivable to the TNI-AL requires a relatively long time, which hinders the smooth running of the company's cash flow. This slow billing process has resulted in a significant amount of uncollectible accounts receivable, which has undermined the company's financial health.

Solutions to Overcome the Challenges

To overcome the challenges faced by PT (Persero) Pelabuhan Indonesia I Belawan Branch in managing its accounts receivable, the authors suggest the following solutions:

A More Thorough Credibility of Debtors

The company needs to apply a comprehensive debtor's credibility assessment system by considering 5K carefully. This will ensure that the company is lending to creditworthy debtors, reducing the risk of uncollectible accounts receivable.

Incentives for Timely Payments

Providing discounts or rewards to debtors who make payments on time can encourage them to be more disciplined and increase the company's cash flow. This will also reduce the amount of uncollectible accounts receivable, as debtors will be more likely to make payments on time.

Enforcement Guidelines for Accounts Receivable Management

The company must be consistent in applying the provisions stipulated in the Guidelines for the Management of Accounts Receivables so that the billing process is more structured and effective. This will ensure that the company is following a standardized process for managing accounts receivable, reducing the risk of errors and delays.

Agreement with the Indonesian Navy

The company needs to negotiate an agreement with the Indonesian Navy so that the process of billing accounts receivable can be carried out more efficiently and quickly in Belawan. This will reduce the time it takes to bill accounts receivable, increasing the company's cash flow and reducing the amount of uncollectible accounts receivable.

Conclusion

The internal supervision of accounts receivables at PT (Persero) Pelabuhan Indonesia I Belawan Branch is a critical issue that needs to be addressed. The company faces several challenges, including errors in considering the credibility of debtors, corporate policies that are ignored, and slow billing procedures. To overcome these challenges, the authors suggest several solutions, including a more thorough credibility of debtors, incentives for timely payments, enforcement guidelines for accounts receivable management, and an agreement with the Indonesian Navy. The application of these solutions is expected to help PT (Persero) Port Indonesia I Belawan Branch in increasing the effectiveness of internal supervision of trade receivables, reducing the amount of uncollectible receivables, and strengthening the company's financial health.

Recommendations

Based on the research conducted, the following recommendations are made:

PT (Persero) Pelabuhan Indonesia I Belawan Branch should implement a comprehensive debtor's credibility assessment system to ensure that the company is lending to creditworthy debtors.
The company should provide incentives for timely payments to encourage debtors to make payments on time.
The company should be consistent in applying the provisions stipulated in the Guidelines for the Management of Accounts Receivables to ensure that the billing process is more structured and effective.
The company should negotiate an agreement with the Indonesian Navy to reduce the time it takes to bill accounts receivable.

Limitations of the Study

This study has several limitations, including:

The study was conducted using a descriptive method, which may not provide a comprehensive understanding of the issues faced by PT (Persero) Pelabuhan Indonesia I Belawan Branch.
The study only focused on the internal supervision of accounts receivables and did not consider other factors that may affect the company's financial health.
The study was conducted in a specific branch of PT (Persero) Pelabuhan Indonesia, and the findings may not be generalizable to other branches or companies.

Future Research Directions

Future research should focus on:

Conducting a more comprehensive study that considers other factors that may affect the company's financial health.
Conducting a study that compares the internal supervision of accounts receivables in different branches of PT (Persero) Pelabuhan Indonesia.
Conducting a study that examines the effectiveness of the solutions suggested in this study in improving the internal supervision of accounts receivables.
Frequently Asked Questions (FAQs) about Internal Supervision of Accounts Receivables at PT (Persero) Pelabuhan Indonesia I Belawan Branch

Q: What is the main challenge faced by PT (Persero) Pelabuhan Indonesia I Belawan Branch in managing its accounts receivable?

A: The main challenge faced by PT (Persero) Pelabuhan Indonesia I Belawan Branch is the significant amount of uncollectible accounts receivable, which has matured more than two years and has undermined the company's financial health.

Q: What are the causes of the uncollectible accounts receivable at PT (Persero) Pelabuhan Indonesia I Belawan Branch?

A: The causes of the uncollectible accounts receivable at PT (Persero) Pelabuhan Indonesia I Belawan Branch include errors in considering the credibility of debtors, corporate policies that are ignored, and slow billing procedures.

Q: What is the 5K assessment system, and how can it help PT (Persero) Pelabuhan Indonesia I Belawan Branch?

A: The 5K assessment system is a comprehensive debtor's credibility assessment system that considers five key factors: character, capacity, capital, collateral, and condition. Implementing this system can help PT (Persero) Pelabuhan Indonesia I Belawan Branch to assess the credibility of debtors more thoroughly and reduce the risk of uncollectible accounts receivable.

Q: What are the benefits of providing incentives for timely payments to debtors?

A: Providing incentives for timely payments to debtors can encourage them to make payments on time, reduce the amount of uncollectible accounts receivable, and increase the company's cash flow.

Q: What is the importance of enforcing guidelines for accounts receivable management at PT (Persero) Pelabuhan Indonesia I Belawan Branch?

A: Enforcing guidelines for accounts receivable management at PT (Persero) Pelabuhan Indonesia I Belawan Branch is essential to ensure that the billing process is more structured and effective, reducing the risk of errors and delays.

Q: What is the role of the Indonesian Navy in the billing process of PT (Persero) Pelabuhan Indonesia I Belawan Branch?

A: The Indonesian Navy plays a significant role in the billing process of PT (Persero) Pelabuhan Indonesia I Belawan Branch, as it is one of the main debtors of the company. Negotiating an agreement with the Indonesian Navy can help to reduce the time it takes to bill accounts receivable and increase the company's cash flow.

Q: What are the potential consequences of not addressing the issue of internal supervision of accounts receivables at PT (Persero) Pelabuhan Indonesia I Belawan Branch?

A: If the issue of internal supervision of accounts receivables is not addressed, it can lead to a significant increase in uncollectible accounts receivable, which can undermine the company's financial health and ultimately lead to bankruptcy.

Q: What are the potential benefits of implementing the solutions suggested in this study at PT (Persero) Pelabuhan Indonesia I Belawan Branch?

A: Implementing the solutions suggested in this study can help PT (Persero) Pelabuhan Indonesia I Belawan Branch to increase the effectiveness of internal supervision of trade receivables, reduce the amount of uncollectible receivables, and strengthen the company's financial health.

Q: What are the limitations of this study, and how can they be addressed in future research?

A: The limitations of this study include the use of a descriptive method, which may not provide a comprehensive understanding of the issues faced by PT (Persero) Pelabuhan Indonesia I Belawan Branch. Future research should focus on conducting a more comprehensive study that considers other factors that may affect the company's financial health.

Q: What are the future research directions for this study?

A: Future research should focus on conducting a more comprehensive study that compares the internal supervision of accounts receivables in different branches of PT (Persero) Pelabuhan Indonesia and examines the effectiveness of the solutions suggested in this study in improving the internal supervision of accounts receivables.