thanks for the reply.But the mgt wants that there should b some norms should b there regarding suspense account.For e.g. our business is related to money transfer and agents from abroad deposit fund with a unique deposit code.Sometimes agent wrongly puts the code and so the system can't recognise the deposit code and amount is transferred to suspense account instead of crediting agent account.
Find out the amount from which agents... Finally it's not possible then You ll consider with Your management and transfer the amount as Current Liabilities head as Loans and Advances...
It will help after find out trace out the payments...
Suspense account is for our convenience that amount should somewhere accounted .All amount in suspense acount should clear before balancesheet in that F.Y .
When I checked a company A/c I found that there was a difference between tally and balance sheet before 3 years ago. then I put difference amount in suspense account for maintain with balance sheet. The difference raised due to share profit that was not possible to change for that year .For that every year in Tally there was a suspense account in lIability side. So my question is how to solve that or how to rectify in the tally?
I know that the audit has been done with a suspense account for the neglegency of Accountant and share profit in tally did not change because the stock was maintain there inventory system , If profit have to be changed there will be effect in closing stock. So what should i do now.