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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.




Comments

22 Responses to “What is a suspense account?”

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

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  15. marcia on April 25th, 2009 12:05 am

    please email me info on suspense accounts. what they are how and when to use them. how to remove info from them should you reconcile while items are in there. and any other helpful info

    thanks
    marcia

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