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Suspense account can be categorized under current assets or current liabilities.
This account is temporary in nature and is usually used to record unidentified payments/receipts. Suspense accounts should not reflect in year-end closing ideally if the books of accounts are closed properly.
The suspense account is classified as a current asset, since it is most commonly used to store payments related to accounts receivable. It is possible to also have a liability suspense account, to contain accounts payable whose disposition is still being decided.
