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GeekInterview.com > Interview Questions > Accounting > General Ledger
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Question: Suspense Account
Answer: Hi Friends,
I have a problem with suspense account. I been working for some organization and they have been getting this suspense account error since 2003. But its a big organization and they didn't consider it as a problem so far..but now-a-days this suspense account is increasing rapidly and decreasing rapidly.. Could you pls tell me how to clear this suspense account. They are using Oracle Applications since 2001. Your help is greatly appreciated .
Thanks in advance
kishu |
| August 08, 2008 14:12:26 |
#5 |
| Yincision |
Member Since: October 2006 Total Comments: 1 |
RE: Suspense Account
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| Depending on the kind of transaction you may or may not need a suspense account. If a transaction is considered incomplete till a certain form of confirmation arrives the amount would be temporarily stored in suspense. The trial balance will therefore reflect an increase or decrease as and when the confirmation arrives. |
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