Rectification of errors
This query is : Open
03 January 2015
what is suspense account?
05 January 2015
It is a temporary account which is is created in two circumtances:
1. When your trail balance is not getting match (If you keep manual accounts)
2. When you do not know about the proper head of any particular transaction.
Ultimatally we need to clear this account before finalizing the balance sheet.
1. When your trail balance is not getting match (If you keep manual accounts)
2. When you do not know about the proper head of any particular transaction.
Ultimatally we need to clear this account before finalizing the balance sheet.
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