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Where in the chart of accounts is a suspense account located?

Accounting Cost Accounting Financial Accounting Bank Accounting managerial accounting
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Question added by Abdul Wahab Mohamed Azmy , Chief Accountant , Bahrain Development Centre
Date Posted: 2014/10/28
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Ayyub khan Ibrahim Khan Deshmukh
by Ayyub khan Ibrahim Khan Deshmukh , Finance Manager , Ahmad Al-Sarraf General Trading & Contracting Est.

suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.

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