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Suspense a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 December 2013 under which head suspence a/c should create? and how to pass entry in tally?
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CA. Aryendra

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CA. Aryendra (Expert)
06 December 2013 A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded.

When the proper account is determined, the amount will be moved from the suspense account to the proper account.

-- Pass entry through journal
-- Create it into current liabilities or current assets.
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