How suspense account is treated in final account if it shows dr. or cr. balance
This query is : Resolved
gaurav khatri
(Querist)
15 November 2013
What is the nature of suspense A/c and B.R .
17 November 2013
generally suspense account should not travel till the point financial statements are drawn up. They are a placeholder till we identify what caused them occur. Its always and always the fact that there is some error or omission because of which this "suspense" occurs. Before we finalize our books of accounts for reporting for a particular period, it is our duty to dispense of all doubts and present a true and fair view.
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