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  1. Dictionary
    Sus·pense ac·count
    /səˈspens əˌkount/

    noun

    • 1. an account in the books of an organization in which items are entered temporarily before allocation to the correct or final account.

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  3. www.patriotsoftware.com › blog › accountingWhat Is a Suspense Account? | Examples and How to Use

    Oct 26, 2022 · A suspense account is a holding account found in the general ledger. Depending on the transaction in question, a suspense account can be an asset or liability. If it’s an asset in question, the suspense account is a current asset because it holds payments related to accounts receivable.

  4. www.indeed.com › suspense-accountsWhat Are Suspense Accounts? (With Definition and Examples)

    Oct 15, 2023 · In this article, we define suspense accounts, discuss when to use them, share tips for using them successfully and provide examples to help you better understand this concept. Key takeaways: A suspense account is an account in which you record any unclear revenue or expenses for a client until they’re able to clarify them.

  5. www.financetuts.com › suspense-accountSuspense Account: The Complete Guide [+ Examples] | FinanceTuts

    Suspense account is a holding account used in accounting and finance to temporarily record financial transactions until they are transferred to their designated destination, including entries that are unclassified, unallocated, doubtful, disputed, erroneous, in-transit or in-progress.

  6. www.blackline.com › glossaries › suspense-accountWhat is a Suspense Account? | F&A Glossary | BlackLine

    A suspense account is used to temporarily record transactions that lack the normal, detailed information that accountants require to make proper journal entries into the business’s accounting records. Learn with BlackLine.

  7. accountancyindex.com › what-is-a-suspense-accountWhat is a Suspense Account in Accounting? Definition and ...

    A suspense account is a temporary holding account used to record financial transactions that have questions around their accuracy and validity. These potentially incorrect financial transactions are either initially recorded in the suspense account, or moved from the general ledger into the suspense account.

  8. www.supermoney.com › encyclopedia › suspense-accountWhat is a Suspense Account? Types & Examples - SuperMoney

    Mar 19, 2024 · Summary: Suspense account entries are an accounting tool used to temporarily hold funds while any unidentified or unclear transactions are resolved. Many businesses will record a payment in a suspense account if there is a question about where to apply it in the general ledger.

  9. www.supermoney.com › encyclopedia › suspense-accountsSuspense Accounts: Types, Examples, and More - SuperMoney

    Mar 19, 2024 · A suspense account, in essence, acts as a financial ‘waiting room,’ where entries of uncertain origin or destination are temporarily housed. It plays a vital role in ensuring the integrity of financial records and safeguarding against errors.

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