Best Practices
What Is a Suspense Account? Where Unclear Transactions Live Temporarily
A suspense account is a temporary holding place in the general ledger for transactions the accounting team can't yet post to the right permanent account. Used well, it keeps the books balanced while questions get resolved. Used poorly, it becomes a landfill where mystery transactions accumulate forever. Here is what a suspense account is for, how to use it disciplined, and the habits that prevent it from turning into a mess.
Sarah Blake6 min read