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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22 Responses to “What is a suspense account?”
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for esp someone who dont have much Accounting background..
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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
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could you guyz please tell me how to reconcile net profit&the errors not shown in a trial balance
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Bless you your teaching is good and i will to know about double entry and bank reconciliation statement
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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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may you leave long by his grace
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@t-fix
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http://www.accountingcoach.com/careers/accounting-degree.html
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