Thursday 10 August 2017


One of the latest changes of Spanish Annual Accounts 2016, with regard to those of previous years is the need of mentioning the average payment period to suppliers. This requirement was introduced by the Spanish Law No. 15/2010, of 5th July 2010, as a mesure to prevent late payment in trade operations. However, the subsidiary legislation was only adopted on 29th January 2016 by a reglamentation of the „Spanish Accounting and Auditing Institute (ICAC)”.
To calculate the average payment period, we will use the following ratio, multiplied by 365:

Average payment period
Average of trade accounts payable
Annual purchases and external services



The concept of “trade accounts payable” includes all the Spanish accounts of groups 40 and 41. The average is the result of dividing into 2 the adition of the balances as at 31.12.2015 & as at 31.12.2016.
As far as annual purchases are concerned, they include all the accounts of groups 60, 61 and 62.

In the following days, we will upload an Excel table to our website, showing an example of calculation oft he average payment period.

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