Effect of Receivable Turnover, Net Profit Margin and Cash Turnover Return on Assets at PT. Prime Papadaan

A study was carried out to analyze the impact of receivables turnover, net profit margin, and cash turnover on the return on assets at PT. Prime Papadaan. The study used a quantitative approach with secondary data

Cash is the most liquid form of asset, which can be used immediately to fulfill the company's financial obligations.If a company keeps cash in the bank in the form of a checking account, the percentage of checking services received by the company will be lower than if it was kept in the form of a time deposit.Therefore, the main problem in cash management is to provide enough cash, not too much (so that profits do not fall too much), but not too little (so that the company's liquidity is affected).According to James O. Gill in Kasmir (2018: 140), The cash turnover ratio is used to assess how much working capital the business has available to finance sales and pay bills.Research on cash turnover on Return On Assets was carried out by Nurfitriana, et al., (2021), Maruta and Hidayatullah (2021) and Garcinia, et al., (2022) with the results that cash turnover affected Return On Assets.Different research results were presented by Rahman, et al., (2021) and Rondonuwu, et al., (2021) which stated that cash turnover does not affect Return On Assets.
Based on the background of the problem, where there are business phenomena and research gaps, the author raised the research title "The Influence of Receivables Turnover, Net Profit Margin and Cash Turnover on Return on Assets at PT. First Papadaan"

Research problem
This backdrop can be used to prepare the problem formulation in the manner described below: 1.

LITERATURE REVIEW
Return On Asset Siswanto (2021:35) Profitability ratios measure a company's ability to generate profits using its own resources such as assets, capital or sales.One of the commonly used profitability metrics is return on assets (ROA).Return on assets measures how well a company uses all of its resources to generate a profit after expenses are deducted.The return on assets shows the degree of system efficiency.Return On Assets = EAT Total Assets Receivables Turnover Soemarso (2004:338) accounts receivable is a habit for companies to make concessions to their customers when making sales.Receivables turnover is a metric that measures how long it takes to collect receivables during a period or how often the funds invested in these receivables are turned over in a period.(Kasmir, 2010:176) The formula used to determine the accounts receivable turnover is: (Darmawan, 2020:91) Perputaran Piutang = Penjualan Kredit Rata-rata Piutang Net Profit Margin Harjito and Martono (2014:60) Net Profit Margin or Net Profit Margin is the sales profit after calculating all expenses and income taxes.This margin shows the comparison of net profit after taxes with sales.The formula used to determine net profit margin is: (Kasmir, 2010:298) Net Profit Margin = Net Income x 100 Operating Income

Cash Turnover
According to James O. Gill (in Kasmir, 2018: 140), cash turnover is used to measure the degree of adequacy of the company's working capital required to pay bills and finance sales.This ratio is used to measure the level of cash availability to pay bills (debts) and costs related to sales.Cash turnover in one period can be calculated using the formula: (Septiana, 2019:73) Cash Turnover = Sale Average Cash

Research framework
The framework provides an research paradigm that provides a solution to the research problem.The research framework of this study is as follows

METHODOLOGY
This research was conducted at PT. Papadaan Perdana, with a research period of March to September 2023, the type of data used in this research is secondary data.In analyzing the data, the author used the help of Statistical Page for the Social Sciences (SPSS), version 24.

RESEARCH RESULT 1) Normality Test
To determine whether the independent, dependent, or both variables are normally distributed, nearly normal, or not distributed, perform a normality

Net Profit Margin
Cash Turnover test.In this study, the test was conducted using a probability plot.The following image displays the probability graph:

2) Multicollinearity Test
The multicollinearity test examines correlations between independent variables to identify their effect on the model.

Source: Data olahan
From table 1, it can be seen that: a) The tolerance value for the variable "receivables turnover" is either 0.622 ≥ 0.10 or the VIF value is 1.608 ≤ 10, indicating that there is no evidence of multicollinearity.b) The tolerance value for the "net profit margin" variable is 0.963 ≥ 0.10 or the VIF value is 1.039 ≤ 10, so the "net profit margin" variable does not have symptoms of multicollinearity.c) The tolerance value for the "cash turnover" variable is 0.613 ≥ 0.10 or The VIF value is 1.631 ≤ 10, so it is declared that the cash turnover variable has no symptoms of multicollinearity.

3) Autocorrelation Test
The way to see whether or not there is autocorrelation in the regression model is to carry out a run test.

4) Multiple Regression Analysis
To determine the influence of the variables accounts receivable turnover, net profit margin and cash turnover on the dependent variable return on assets, the author uses SPSS version 24 analysis.When calculating linear regression, the formula is used: Where a is a constant, b is the regression coefficient and x is the independent, Variabel from the following data: The interpretation of the regression model above is: a. = 0,147 If receivable turnover, net profit margin and cash turnover are equal to 0 (zero) or constant (not experiencing increases or decreases) then the return on assets is 0.147 b₁.= -0,005 If receivable turnover increases by 1 (one unit) while net profit margin and cash turnover are constant, return on assets will decrease by 0.005.b₂.= 0,702 If the net profit margin increases by 1 (one unit) while receivables turnover and cash turnover are constant, then the return on assets will increase by 0.702.b3.= -0,001 If cash turnover increases by 1 (one unit) while accounts receivable turnover and net profit margin remain the same, return on assets will decrease by 0.001.

5) Correlation and Determination
To see the correlation and determination of the variables receivable turnover, net profit margin and cash turnover on return on assets, you can see the The r value or correlation that can be seen from the Model Summary table is 0.980, meaning that there is a very high relationship between receivables turnover, net profit margin and cash turnover on return on assets.
From the model summary table, it can be seen that the R Square value is 0.961.Therefore, the contribution of the independent variable is 96.10 %.Other factors not discussed in this study contributed 3.90% 6) Hypothesis Testing a. F-Test Testing the influence of the variables receivable turnover, net profit margin and cash turnover on return on assets can be seen in the table below.Based on the results of the above SPSS analysis, it can be seen that the tcount value for the accounts receivable turnover variable is -4.348.Since the value of count < ttable (-4.348 < -2.5705), the accounts receivable turnover partially influences the return on assets.
2. Partial test of the effect of net profit margin on return on assets.
Based on the results of the above SPSS analysis, it can be seen that the calculated value for the net profit margin variable is 7.259.Since the value of the count> table is (7.259 > 2.5705), the net profit margin partially influences the return on capital.3. Partial test of the effect of cash turnover on return on assets.
Based on the results of the SPSS analysis above, it shows that the T-Count value for the cash turnover variable is -3.349.Since the value of count < ttable (-3.349 < -2.5705), cash turnover partially influences the return on assets.

DISCUSSION
The hypothesis which states that receivables turnover partially influences return on assets is declared accepted.The results of this research are in line with research conducted by Sari, et al., (2020); Fatima and Wijaya (2021) and Muhibah and Yunus (2020).Receivables management is one of the important things that needs to be considered in company management.Because we know that transactions that occur in a company are not all carried out in cash, but there are times when transactions occur on credit, therefore we need something called receivables management (Surindra, et al., 2020:57) The hypothesis which states that it is assumed that net profit margin partially influences return on assets is declared accepted.The results of this research are in line with research conducted by Surbakti and Malau (2020); Lisnawati andAmirullah (2022) andFahry, et al., (2021).Net Profit Margin (NPM) measures a company's ability to generate net profits from sales made.This ratio reflects the efficiency of production, personnel, marketing and finance (Siswanto, 2021:37) The hypothesis which states that it is suspected that cash turnover partially influences the return on assets is declared accepted.The results of this research are in line with research conducted by Nurfitriana, et al., (2021), Maruta and Hidayatullah (2021) and Garcinia, et al., (2022).Cash is the most liquid form of asset, which can be used immediately to fulfill the company's financial obligations (Husnan and Pudjiastuti, 2015: 115)

CONCLUSIONS
Based on the results of the research carried out, conclusions were drawn: a.The variables receivable turnover, net profit margin and cash turnover influence PT's return on assets.Prime Papadaan.b.The receivables turnover variable influences the return on assets of PT.Prime Papadaan.c.The net profit margin variable influences PT's return on assets.Prime Papadaan.d.The cash turnover variable influences the return on assets of PT.Prime Papadaan.

ADVANCED RESEARCH
It is recommended for further research to raise different independent variables to look at factors that can influence the dependent variable return on assets.

Figure
Figure 1: Research Framework Source: Data olahan

Table 1 .
It uses tolerance values and the variance inflation factor (VIF), Multicollinearity Test Results

Table 3 .
CoefficientsFrom the table above we can see that the multiple linear regression becomes:

table below :
Table 4. Model Summary

Table 5 .
AnovaIn the Simultaneous Test Results table above, the calculated F value is 24.880, while the table F value is 9.28.Apart from that, the significance value is 0.013 which is greater than the significance level (α) of 0.05.Because the calculated F value > F table (24.880 > 9.28), receivables turnover, net profit margin and cash turnover simultaneously influence return on assets..b.T-testThe examination of the influence of the variables receivables turnover, net profit margin and partial cash turnover on the return on assets is shown in the in the following table: