Accounting




August 17, 2007

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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Comments

11 Responses to “What is a suspense account?”

  1. Rogers James Lutwama on February 8th, 2008 8:54 am

    I would like to be enrolled for this important
    course, I will be meeting the charges as communicated.

  2. halidu on March 11th, 2008 4:46 pm

    thanks for giving some of us who are begginers the opportunity to understand these concepts

  3. Donna on April 16th, 2008 3:25 pm

    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

  4. priska on May 8th, 2008 7:57 am

    I would like to know more about suspense account, can u pls send the info. to my e-mail address.

  5. Bertie on May 15th, 2008 8:54 am

    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

  6. rogers on May 31st, 2008 11:08 am

    just to join with you

  7. jaymol on June 5th, 2008 1:56 am

    its wonderful to join you and learn from you

  8. umes on July 9th, 2008 12:43 pm

    This is very useful site for the student like me to extent the spatrum of accounting knowledge.

  9. johnnie on August 5th, 2008 7:41 am

    could you guyz please tell me how to reconcile net profit&the errors not shown in a trial balance

  10. anishshaikh on August 7th, 2008 2:07 am

    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

  11. Magdalene on September 17th, 2008 3:12 am

    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

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