2007-03-15 17:41:13 · 6 answers · asked by sudar s 1 in Business & Finance ➔ Other - Business & Finance
In Banking, when an amount is received for the credit of certain account and the name mentioned there in and the the number of the account mentioned therein does not tally, the amount will be credited to suspense account for the time being.
When the depositor contacts the bank for not finding that particular credit in his/her account, then the banker asertains the full details and reverse the suspence item.
2007-03-15 18:25:34 · answer #1 · answered by arpita 3 · 0⤊ 0⤋
When there is some difference between the amounts debited and amounts credited in the books of accounts, and it is not possible to trace from where the difference had come, the difference amount is debited or credited to the 'Suspense Account'. This account is made to know the amount of transactions for which the entries are wrongly made. It makes the search for the differences easier or harder, depending upon the errors made in entering the transactions in the books.
Regards,
Rb
2007-03-16 01:12:00 · answer #2 · answered by rb 2 · 0⤊ 0⤋
A suspense account is an account that has to be paid on a certain day of the month.
2007-03-16 00:53:02 · answer #3 · answered by jim_elkins 5 · 0⤊ 0⤋
When there is doubt due to inadequate/incomplete information for posting money to proper account,it temporarily credited to suspense account.
2007-03-16 00:54:57 · answer #4 · answered by balkrishna c 4 · 1⤊ 1⤋
I is a temporary account created for posting atr the time of entry of accounts pending verification with documents available at the time of finalisation of accounts.
2007-03-16 01:05:14 · answer #5 · answered by manu_kc26 1 · 0⤊ 0⤋
suspance a/c is :- when we make account's them some money or some item's forgot's for this forget money / item we make a a/c this is suspance a/c.
2007-03-16 03:04:00 · answer #6 · answered by ramkrishan_ojha123 1 · 0⤊ 0⤋