Suspense Account!

An suspense account is an account in the general ledger, where value is temporary stored. The suspense account is used for current account can not be determined at the time of transactions is recorded. 

Why is the value recorded in the saving account? In general, this is because you can not determine whether the appropriate amount requires a transaction. As long as the transaction in the suspense account and has not been transferred to home, the transaction is "tense" of the transaction as a "deposit amount " of the suspense account.

Suspense account is an account which used for any transaction or balance in business or accounts.

A suspense account is a division of the company's book where it record its non categorized

Debits and credits. While the company need to decide its classification. Saving accounts temporary do not classify operations. The trading account saving remain in the general social book.

As it decided to invest for a long period for time, the investment in saving account is a temporary cash investor or short term effect securities account during the investment. 

Most saving account are often resolved on a company internal accounting practice, To be considered, the balance must reach zero in the account. The amount of interruption must be due to the account specified properly. Although many companies do not have a standard time to complete clearing out process that they are periodic like monthly or quarterly. In the framework of corporate accounting suspense account earning temporary pale for account not specified accounts not to be related to the sample. In many cases, its keep separate fund from those, already classified account number and real bank accounts. It properly record the transaction, but the transactions is fully allocated. The account may contains information about the difference that more information is collected.

Example of Suspense Account:

Unidentified credit found in bank account: amount is paid by one of yours customers you need. He did not know the deposit, you can not recognize the transactions. In this case you are saving an account with the hope that you will recognize later.

In this example above money is deposited in your bank account. 

Debit bank account 

Credit suspense account 

As mentioned earlier, you can also use a suspense account if the correct account associated with the transaction can not determine when the transaction was originally recorded. Some example are when you received partial payment from a customer or do not know the bill to pay. If the payment is confused by the customer, the payment amount can be transferred from the suspense account and the appropriate account.

For example you receive a $100 payment, Open a suspense account and add 100 dollars as credit, the withdraw from the cash account of the same amount ( make sure that every thing is balanced according to accounting equation). Upon completion of payment from the customer, we will charge a 100 dollars suspense account and deposit the same amount of account receivable. The suspense account is closed and the payment is in that place.