suspense account

Popular Terms
Temporary account (one not included in financial statements) created to record (1) disbursements or receipts associated with yet-unconcluded transactions until their conclusion, or (2) discrepancies between totals of other accounts until their rectification or correct classification.

Use 'suspense account' in a Sentence

We had a suspense account created and I informed everyone that it was only for a certain amount of time.
20 people found this helpful
You should try to keep a suspense account in place if there was a misunderstanding with another business and you may owe more.
18 people found this helpful
You may want to keep some money in a suspense account if you think you may need to come up with some quick cash soon.
17 people found this helpful

Email Print Embed