Suspence account

Suspense account is simply an account to record entries on temporary basis. e.g. some times you find a receipt in you bank account and dont know from whom you have received that amount, then temporarily you may enter that entry in suspense account. After finding out from whom that amount has been received that entry can be changed to that particular account.

but my suggestion is to the maximum extent, avoid using Suspense a/c head, becz we used to forget, to find out actual transaction and in times , we use this short cut to tally BRS . also, we carry this suspense A/C transactions till we finalise balance sheet.