Rectification of errors
This query is : Open
03 January 2015
what is suspense account?
05 January 2015
It is a temporary account which is is created in two circumtances:
1. When your trail balance is not getting match (If you keep manual accounts)
2. When you do not know about the proper head of any particular transaction.
Ultimatally we need to clear this account before finalizing the balance sheet.
1. When your trail balance is not getting match (If you keep manual accounts)
2. When you do not know about the proper head of any particular transaction.
Ultimatally we need to clear this account before finalizing the balance sheet.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- 44AD VS 44AB AUDIT
- Correction in TDS return New Traces Portal
- Multiple payment of self assessment tax for A Y 2025-2026
- Computation of Dividend
- Query Regarding Refund Adjustment Against Outstanding Demand
- Clarification on GST Applicable for Training Hall Rent Invoice
- TDS NOT YET CREDIED
- Itr processing delay
- TDS Return processing
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- GST APPLICABILITY TO DIAGNOSTIC
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
