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Suspense Account Treatment

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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)
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.


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