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ACCOUNTS RECEIVABLE AND CONTRACT ASSETS, NET (Tables) | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Summary of accounts receivable | Accounts receivable consists of the following:
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |
Accounts receivable: |  |  |  |  |  |  |  |
Receivables for loan facilitation and post-origination service from borrowers |  |  | 170,898 |  |  |  | — |
Receivables for loan referral service from institutional funding partners |  |  | 28,945 |  |  |  | 109,910 |
Less: allowance for credit losses |  |  | (60,679 | ) |  |  | — |
Total accounts receivable |  |  | 139,164 |  |  |  | 109,910 |
Summary of movement of allowance for uncollectible receivables | The movement of allowance for uncollectible receivables for the years ended December 31, 2018, 2019 and 2020 are as follows:
|  |  |  |  |  | Year ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |  |  | RMB |
Balance at the beginning of the year |  |  | — |  |  |  | 28,014 |  |  |  | 60,679 |
Current year credit losses |  |  | 51,430 |  |  |  | 144,636 |  |  |  | 49,231 |
Current year write off |  |  | (23,416 | ) |  |  | (111,971 | ) |  |  | (109,910 | )
Balance at end of the year |  |  | 28,014 |  |  |  | 60,679 |  |  |  | — |
Summary of Contract Assets | Contract assets consists of the following:
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |
Contract assets |  |  | — |  |  |  | 48,154 |
Less: Allowance for credit losses |  |  | — |  |  |  | — |
Contract assets, net |  |  | — |  |  |  | 48,154 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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