Suspense account treatment
Akshay Mahajan (4 Points)
10 June 2016
what is the treatment for suspense account of debit or credit balance in the balance sheet side
3 Replies
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 10 June 2016
CA Saurabh Singh
(Practising Chartered )
(974 Points)
Replied 10 June 2016
It is better advised to clear off the suspense balance as these are no such a/cs from the perspective of any law, Its mere a head showm for temporary posting of some transations whisch are still unidentified.
However if it still pertains then a seperate head of suspense a/c would be reflected and if it has credit blance the same would go under laibilities and on debit balance the same would go under assests.
Nilesh
(Account Executive)
(85 Points)
Replied 03 April 2022
Please clear suspense account before finalise account and balance sheet. this is asset
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