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alt=\"\" \/>El <strong>Periodo Medio de Pago a Proveedores (PMPP)<\/strong> es un indicador financiero que muestra el tiempo promedio que una empresa tarda en pagar a sus proveedores despu\u00e9s de haber recibido los productos o servicios contratados. Este par\u00e1metro es relevante tanto para las empresas como para la <a href=\"https:\/\/sede.agenciatributaria.gob.es\/\" target=\"_blank\" rel=\"nofollow noopener\">Agencia Tributaria<\/a>, ya que refleja la eficiencia y solvencia de la gesti\u00f3n financiera de la empresa, as\u00ed como su capacidad para cumplir con sus obligaciones comerciales en tiempo y forma.<\/p>\n<p>Queremos dedicar hoy nuestro art\u00edculo a su an\u00e1lisis, a su determinaci\u00f3n y ver su importancia de cara a las cuentas anuales.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.inesem.es\/revistadigital\/gestion-empresarial\/periodo-medio-de-pago-a-proveedores\/#%C2%BFQue_es_el_Periodo_Medio_de_Pago_a_Proveedores\" title=\"\u00bfQu\u00e9 es el Periodo Medio de Pago a Proveedores?\">\u00bfQu\u00e9 es el Periodo Medio de Pago a Proveedores?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.inesem.es\/revistadigital\/gestion-empresarial\/periodo-medio-de-pago-a-proveedores\/#%C2%BFComo_se_calcula_el_Periodo_Medio_de_Pago_a_Proveedores\" title=\"\u00bfC\u00f3mo se calcula el Periodo Medio de Pago a Proveedores?\">\u00bfC\u00f3mo se calcula el Periodo Medio de Pago a Proveedores?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.inesem.es\/revistadigital\/gestion-empresarial\/periodo-medio-de-pago-a-proveedores\/#%C2%BFCual_es_el_Periodo_Legal_de_Pago_a_Proveedores_en_Espana\" title=\"\u00bfCu\u00e1l es el Periodo Legal de Pago a Proveedores en Espa\u00f1a?\">\u00bfCu\u00e1l es el Periodo Legal de Pago a Proveedores en Espa\u00f1a?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.inesem.es\/revistadigital\/gestion-empresarial\/periodo-medio-de-pago-a-proveedores\/#Obligacion_de_Informar_en_las_Cuentas_Anuales_del_Periodo_Medio_de_Pago_a_Proveedores\" title=\"Obligaci\u00f3n de Informar en las Cuentas Anuales del Periodo Medio de Pago a Proveedores\">Obligaci\u00f3n de Informar en las Cuentas Anuales del Periodo Medio de Pago a Proveedores<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%C2%BFQue_es_el_Periodo_Medio_de_Pago_a_Proveedores\"><\/span><strong>\u00bfQu\u00e9 es el Periodo Medio de Pago a Proveedores?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>El <strong>Periodo Medio de Pago a Proveedores (PMPP)<\/strong> es el plazo promedio que transcurre entre la recepci\u00f3n de la mercanc\u00eda o servicio y el pago efectivo al proveedor. Es decir, mide el tiempo que una empresa tarda en saldar sus deudas con los proveedores una vez que ha adquirido bienes o servicios. El PMPP es fundamental para entender la <strong>liquidez<\/strong> de una empresa y c\u00f3mo gestiona su <a href=\"https:\/\/www.inesem.es\/revistadigital\/gestion-empresarial\/que-es-cash-flow\/\" target=\"_blank\" rel=\"noopener\"><strong>flujo de caja<\/strong><\/a>.<\/p>\n<p><strong>Un PMPP elevado<\/strong>, en principio, puede ser una buena se\u00f1al pues significa una\u00a0 gesti\u00f3n financiera eficiente. Pero tambi\u00e9n puede significar que se est\u00e1 utilizando de manera\u00a0 agresiva los plazos de pago para mejorar la tesorer\u00eda. Esto puede generar tensiones con los proveedores y da\u00f1ar la confianza en las relaciones comerciales.<\/p>\n<p>Un PMPP bajo puede suponer mejores relaciones con los proveedores, pero significar problemas de liquidez si la situaci\u00f3n se prolonga.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%C2%BFComo_se_calcula_el_Periodo_Medio_de_Pago_a_Proveedores\"><\/span><strong>\u00bfC\u00f3mo se calcula el Periodo Medio de Pago a Proveedores?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>El c\u00e1lculo del <strong>Periodo Medio de Pago a Proveedores (PMPP)<\/strong> se realiza mediante una f\u00f3rmula sencilla que tiene en cuenta las compras realizadas y las cuentas por pagar.<\/p>\n<p>Para calcular el PMPP, se utiliza la siguiente f\u00f3rmula:<\/p>\n<p>Donde:<\/p>\n<ul>\n<li><strong>Cuentas por Pagar<\/strong>: Son las deudas pendientes que la empresa tiene con sus proveedores a final de periodo.<\/li>\n<li><strong>Compras Totales<\/strong>: Son el total de las compras de bienes y servicios a proveedores realizadas durante el periodo de referencia.<\/li>\n<li><strong>D\u00edas del Per\u00edodo<\/strong>: Generalmente, este per\u00edodo es de 365 d\u00edas para obtener un valor anual del PMPP. Sin embargo, se puede ajustar seg\u00fan la periodicidad del an\u00e1lisis, como un trimestre o un semestre.<\/li>\n<\/ul>\n<p>El resultado del c\u00e1lculo del PMPP se expresa en d\u00edas. As\u00ed, el PMPP indica el n\u00famero promedio de d\u00edas que la empresa tarda en pagar a sus proveedores desde que adquiere los bienes o servicios.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%C2%BFCual_es_el_Periodo_Legal_de_Pago_a_Proveedores_en_Espana\"><\/span><strong>\u00bfCu\u00e1l es el Periodo Legal de Pago a Proveedores en Espa\u00f1a?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>En Espa\u00f1a, el <strong>periodo legal de pago a proveedores<\/strong> est\u00e1 regulado principalmente por la <a href=\"https:\/\/www.boe.es\/buscar\/act.php?id=BOE-A-2004-21830\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Ley 3\/2004<\/strong>, de 29 de diciembre, sobre la lucha contra la morosidad en las operaciones comerciales<\/a>. Esta legislaci\u00f3n establece los plazos m\u00e1ximos de pago entre empresas y entre empresas y entidades p\u00fablicas con el fin de reducir los retrasos en los pagos y fomentar la transparencia y la estabilidad en las relaciones comerciales.<\/p>\n<p>Seg\u00fan la ley:<\/p>\n<ol>\n<li><strong>El plazo m\u00e1ximo de pago en las operaciones entre empresas<\/strong> es de <strong>60 d\u00edas<\/strong> naturales, salvo que se haya acordado otro plazo expresamente, pero este no puede superar los 120 d\u00edas naturales. En los casos en los que se pacten plazos superiores, deben estar claramente justificados por las partes involucradas.<\/li>\n<li><strong>En las operaciones con las administraciones p\u00fablicas<\/strong>, el plazo m\u00e1ximo de pago es de <strong>30 d\u00edas naturales<\/strong> a partir de la fecha de recepci\u00f3n de la factura, siempre que los bienes o servicios hayan sido entregados correctamente y no haya discrepancias.<\/li>\n<\/ol>\n<p>Esta legislaci\u00f3n tiene como objetivo reducir la morosidad y establecer un marco que proteja a las peque\u00f1as y medianas empresas (PYMEs) frente a pr\u00e1cticas comerciales abusivas por parte de las grandes corporaciones, quienes a menudo imponen plazos de pago m\u00e1s largos que los establecidos por la ley.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Obligacion_de_Informar_en_las_Cuentas_Anuales_del_Periodo_Medio_de_Pago_a_Proveedores\"><\/span><strong>Obligaci\u00f3n de Informar en las Cuentas Anuales del Periodo Medio de Pago a Proveedores<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>La <strong>obligaci\u00f3n de informar sobre el PMPP<\/strong> en las cuentas anuales est\u00e1 regulada por la <a href=\"https:\/\/www.google.com\/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https:\/\/www.boe.es\/buscar\/pdf\/2016\/BOE-A-2016-1112-consolidado.pdf&amp;ved=2ahUKEwjqh8CLq9qLAxW3XvEDHQErMW4QFnoECBsQAQ&amp;usg=AOvVaw0sjnISUBgvmGUVyFQWOTF5\" target=\"_blank\" rel=\"nofollow noopener\">Resoluci\u00f3n del Instituto de Contabilidad y Auditor\u00eda de Cuentas (ICAC),<\/a> que establece las normas sobre la informaci\u00f3n financiera que las empresas deben proporcionar. Seg\u00fan esta resoluci\u00f3n, las empresas deben detallar el periodo medio de pago a proveedores en sus cuentas anuales, espec\u00edficamente en la memoria que acompa\u00f1a a los estados financieros.<\/p>\n<p>La Resoluci\u00f3n del ICAC establece que:<\/p>\n<ol>\n<li><strong>Las sociedades mercantiles incluir\u00e1n una nota en el modelo normal de la memoria <\/strong>de sus cuentas anuales individuales y en su caso, consolidadas, con la siguiente denominaci\u00f3n y contenido: \u00abInformaci\u00f3n sobre el periodo medio de pago a proveedores. Disposici\u00f3n adicional tercera. \u00abDeber de informaci\u00f3n\u00bb de la Ley 15\/2010, de 5 de julio.\u00bb\u00a0 : \u2013 Periodo medio de pago a proveedores. \u2013 Ratio de las operaciones pagadas. \u2013 Ratio de las operaciones pendientes de pago. \u2013 Total pagos realizados. \u2013 Total pagos pendientes<\/li>\n<li>La <strong>memoria anual<\/strong> debe incluir tanto el PMPP como la justificaci\u00f3n de las pol\u00edticas de pago que la empresa sigue, explicando las causas de cualquier discrepancia con el plazo legal de pago. En caso de que una empresa no cumpla con los plazos establecidos, debe detallar las razones, lo que ayuda a incrementar la transparencia y permitir un mejor an\u00e1lisis por parte de los inversores y las autoridades fiscales.<\/li>\n<li><strong>La presentaci\u00f3n del PMPP es crucial para la evaluaci\u00f3n de la morosidad<\/strong> y la gesti\u00f3n del flujo de caja de las empresas, y la divulgaci\u00f3n de este dato tambi\u00e9n busca mejorar la competitividad y la eficiencia de los mercados al incentivar un comportamiento m\u00e1s responsable y alineado con la ley<\/li>\n<\/ol>\n<p>En definitiva, el <strong>Periodo Medio de Pago a Proveedores<\/strong> es un indicador clave de la gesti\u00f3n financiera de una empresa que refleja la rapidez con la que una empresa paga a sus proveedores. Su c\u00e1lculo es sencillo pero de gran relevancia tanto para la solvencia de la empresa como para la relaci\u00f3n con sus proveedores.<\/p>\n<p>Si te interesa todo lo relativo a la informaci\u00f3n de las cuentas anuales te animamos a informarte en nuestro <a href=\"https:\/\/www.inesem.es\/Curso-Auditoria-Cuentas\" target=\"_blank\" rel=\"noopener\"><strong>Curso Superior en Normas y Procedimientos de Auditor\u00eda de Cuentas<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Descubre qu\u00e9 es el periodo medio de pago a proveedores, c\u00f3mo calcularlo y su impacto en la salud financiera de tu empresa<\/p>\n","protected":false},"author":83027,"featured_media":13885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[115],"class_list":["post-13858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finanzas-y-contabilidad"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u00bfC\u00f3mo afecta el periodo medio de pago a proveedores?<\/title>\n<meta name=\"description\" content=\"Descubre qu\u00e9 es el periodo medio de pago a proveedores, c\u00f3mo calcularlo y su impacto en la salud financiera de tu empresa\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inesem.es\/revistadigital\/gestion-empresarial\/periodo-medio-de-pago-a-proveedores\" \/>\n<meta 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