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Suspense account

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In accountancy, a suspense account is an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification.

It can be a repository for monetary transactions (cash receipts, cash disbursements & journal entries) entered with invalid account numbers. The account specified may not exist, or it may be deleted/frozen. If one of these conditions exist, the transaction should be directed to a suspense account.

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