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suspense account

   Also found in: Financial, Wikipedia 0.01 sec.
suspense account
n.
A temporary account in which entries of credits or charges are made until their proper disposition can be determined.

suspense account
n
(Economics, Accounting & Finance / Accounting & Book-keeping) Book-keeping an account in which entries are made until determination of their proper disposition
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.suspense account - an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification
account statement, accounting, account - a statement of recent transactions and the resulting balance; "they send me an accounting every month"
Translations
suspense account
nInterimskonto nt
suspense account n (in ledger) → voce f in sospeso (Comm) → conto in sospeso


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Where * Extract journal entries made to suspense accounts and summarize by the person entering and corresponding account numbers.
The wages were paid into the bank on Monday but because the account was being closed, the money went into a suspense account until it could be worked out where it should go.
For example, many servicers wrongly believe that the placement of funds into a suspense account does not result in a legal conclusion that the funds have been accepted by the servicer.
 
 
 
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