Definitions
There is 1 meaning of the phrase
Suspense Account.
Suspense Account - as a noun
An account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification
Example Sentences
"The company decided to create a suspense account to temporarily hold all the unallocated funds."
"Any discrepancies found in the accounts are recorded in the suspense account until they are resolved."
"The suspense account is used to maintain the accuracy of financial records during the reconciliation process."
"The funds from the closed subsidiary were transferred to a suspense account pending further instructions."
"Uncleared checks are typically placed in a suspense account until they are either presented or canceled."
