A temporary place for transactions until a company figures out where the cost needs to be transferred.
Related information about suspense account:
- Suspense account - Wikipedia, the free encyclopedia
A suspense account is an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent ...
- Suspense Account Definition | Investopedia
In accounting, the section of a company's books where unclassified debits and credits are recorded. The suspense account temporarily holds unclassified ...
- What is a suspense account? - Questions & Answers ...
Jul 10, 2010 ... A suspense account is an account in the general ledger that is used to temporarily store any transactions for which there is some uncertainty ...
- Suspense accounts and error correction | ACCA Qualification ...
A suspense account is a temporary resting place for an entry that will end up somewhere else once its final destination is determined. There are two reasons ...
- Where in the chart of accounts is a suspense account located ...
A suspense account could be located in any part of an organization's chart of accounts. In other words, a suspense account could be located in any of these.
- suspense accounts - The Free Dictionary
suspense account. n. A temporary account in which entries of credits or charges are made until their proper disposition can be determined.
- suspense account - The Free Dictionary
suspense account. n. A temporary account in which entries of credits or charges are made until their proper disposition can be determined. suspense account. n ...
- Suspense account - Merriam-Webster Online
an account for the temporary entry of charges or credits or especially of doubtful accounts receivable pending determination of their ultimate disposition ...