August 17, 2007
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What is a suspense account?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded.
When the proper account is determined, the amount will be moved from the suspense account to the proper account.
Learn more about Bookkeeping.
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11 Responses to “What is a suspense account?”
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I would like to be enrolled for this important
course, I will be meeting the charges as communicated.
thanks for giving some of us who are begginers the opportunity to understand these concepts
GREAT SITE!…I had to take an Accounting test and last minute discovered this site..it was very helpful!!,
for esp someone who dont have much Accounting background..
thanks again
I would like to know more about suspense account, can u pls send the info. to my e-mail address.
I am using Pastel Accounting software in my company but I’ve not mastered it in detail.
I need to know
1. how I can enter single entries
2. how do I reverse entries formerly entered ‘’single” into double entries?
My appreciations
just to join with you
its wonderful to join you and learn from you
This is very useful site for the student like me to extent the spatrum of accounting knowledge.
could you guyz please tell me how to reconcile net profit&the errors not shown in a trial balance
i want ti lern all accountig sitem from basic to top i am student of Arts so havnt knowledge i want learn leanguge of accountig please salve that problem by your theory
please i can see that your lessons are very educative and self esplanatory. i would be glad if you could send me daily updates through my email address