suspense account - definitie. Wat is suspense account
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Wat (wie) is suspense account - definitie

ACCOUNT USED TO CARRY DOUBTFUL ENTRIES PENDING THEIR ANALYSIS AND PERMANENT CLASSIFICATION

suspense account         
¦ noun an account in which items are entered temporarily before allocation to the correct or final account.
Suspense account         
A suspense account is an account used temporarily to carry doubtful entries and discrepancies pending their analysis and permanent classification.
Controlling account         
ACCOUNT IN THE GENERAL LEDGER FOR WHICH A CORRESPONDING SUBSIDIARY LEDGER HAS BEEN CREATED, ALLOWING FOR TRACKING TRANSACTIONS WITHIN THE CONTROLLING ACCOUNT IN MORE DETAIL
Control Account; Control account
In accounting, the controlling account (also known as an adjustment or control accountcontrol account definition in Financial Times lexicon) is an account in the general ledger for which a corresponding subsidiary ledger has been created. The subsidiary ledger allows for tracking transactions within the controlling account in more detail.

Wikipedia

Suspense account

A suspense account is an account used temporarily to carry doubtful entries and discrepancies pending their analysis and permanent classification.

It can be a repository for monetary transactions (cash receipts, cash disbursements and journal entries) entered with invalid account numbers. The account specified may not exist, or it may be deleted/frozen. If one of these conditions applies, the transaction should be directed to a suspense account.

In branchless banking (BB) - banking through mobile for the unbanked - these accounts are used for 'money-in-transit'. For example, sender sends payment from US ACH account to a BB mobile number in Japan. The customer receives an alert on their mobile to withdraw this money from a BB agent. Until they withdraw, the remittance stays in a suspense account, earning the financial institute or the BB enabler float/interest on that money. When customer withdrawal is completed, the money moves from the suspense account to the account of the agent who facilitated the cash withdrawal.

A suspense account is an account in the general ledger in which amounts are temporarily recorded. A suspense account is used when the proper account cannot be determined at the time the transaction is recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account. It can also be used when there is a difference between the debit and credit side of a closing or trial balance, as a holding area until the reason for error is located and corrected.

Suspense accounts should be cleared at some point, because they are for temporary use. Suspense accounts are a control risk.


Voorbeelden uit tekstcorpus voor suspense account
1. The funds were placed in a suspense account, Heller Ehrman, another law firm, said without giving a figure.
2. Fernandes has deferred a decision on the EPF rate citing the assembly elections in Goa but, in course of informal interaction with the members of the audit panel, he had asked them to try their best to find out if some surplus amount is lying accumulated in the Interest Suspense Account, Contingency Reserve and Special Reserve Fund.
3. The decision to retain 8.5 per cent interest will put a burden of Rs 450 crore on the EPF fund but sources said that the deficit could be offset from a surplus of Rs 5'0 crore lying in the Interest Suspense Account, Contingency Reserve and Special Reserve Fund.