ü Suspense account is an account in GL in which amounts are temporarily recorded.
ü The suspense a/c is used because the Proper Account could not be determined at the time that the transaction was recorded.
ü When the proper account is determined, the amount will be moved from the suspense account to the proper account.
Steps for Suspense Account:
ü Define the Suspense Account at Primary Ledger Primary Ledger Setup steps through Accounting Setup Manager.
ü Click Update on Primary ledger in the Ledger Setup Steps and on 2nd page, provide Suspense Account and Rounding Difference Tracking Account (Optional).
ü Finish and Close Window.
ü Now Pass a Journal entry with difference in Dr and Cr and save the JE and Post it.
ü Review the JE and you will find the difference in the Suspense Account.
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