Menu
Suspense Account Treatment
We have received payments worth Rs.8 L in a FY but we dont know the parties so put it into suspense. Can we show suspense account into balance sheet or have to clear it??
Replies (3)
Quick Summary
You have to show it in Finance Statements.
you must Clear Suspense account before finalization of Accounts . you can not continue with suspense account after end of the financial year . So clear It as early as possible .
Approach your bank to provide copy of thr cheques pertaining to suspense entries and clear it. also, you can show it under sundry debtors on balance sheet and finalise if there is urgency but need to clear it asap.
Recent Topics :
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
Related Topics :
CAclubindia
