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suspense account

218 views 3 replies

Santhosh Kannan

1 Points Posted on 09 July 2018

suspense accounts are place in trail balance

Replies (3)

CA Naveen Chand

Chartered Accountant

12739 Points Posted on 09 July 2018

suspense should be cleared before finalized the accounts

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 09 July 2018

Yes... I agreed to Mr. NAVEEN CHAND...

It will be cleared at the time of Finalize the Accounts...

Vinod Babu

24196 Points Posted on 10 July 2018

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.

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