Author Topic: What is a suspense account?  (Read 83 times)

Offline Repon

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What is a suspense account?
« on: July 23, 2018, 03:04:25 PM »
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.
Senior Lecturer in Accounting
Department of Business Administration
Faculty of Business & Economics
Daffodil International University