a temporary holding area used to make double-entry accounting work
a temporary resting place for an entry that will end up somewhere else once its final destination is determined
an account to which an entry for a transaction is posted until ultimate disposition is determined. Part I - 7.3.14
A temporary account that is used when you are unsure as to what you should do with a certain value. The Suspense Account can be used as a holding account until it is decided what should be done with the value. The balance on the Suspense Account should ultimately be zero. It is most commonly used in Sage when the Opening Balances are being put onto the system. Click here to go back to the top of the page
A suspense account is used when not enough information is available to post a transaction with the right offset. For example, dividends and interest are “paid†to a trust account on their payable date even if all of the money from depositors and paying agents is not received on time.
A temporary account used to force a trial balance to balance if there is only a small discrepancy (or if an account's balance is simply wrong, and you don't know why). A typical example would be a small error in petty cash. In this case a transfer would be made to a suspense account to balance the cash account. Once the person knows what happened to the money, a transfer entry will be made in the journal to credit or debit the suspense account back to zero and debit or credit the correct account. · · · · · · · · · · · · · · · · · · · · · · · · · · HOME
An account which carries charges or credits temporarily pending the determination of the proper account or accounts to which they are to be posted.
An accounting term for an account used temporarily to carry receipts, disbursements or discrepancies pending their analysis and permanent classification.
An account in which items are carried temporarily pending final disposition.
In accounting, a temporary account where deposited funds can be held until the billing statement has been processed and the funds have been allocated to the appropriate accounts.
In accountancy, a suspense account is an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification.