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1. www.investopedia.com › terms › sWhat Is a Suspense Account? How It Works, Types, and Examples

   www.investopedia.com › terms › s

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   Sep 4, 2024 · A suspense account is a bookkeeping device that records ambiguous or unclear transactions until they are clarified. Learn how suspense accounts are used in business, mortgage servicing, and investing, and what are the differences with clearing accounts.

2. www.accountingtools.com › what-is-a-suspense-accountSuspense account definition — AccountingTools

   www.accountingtools.com › what-is-a-suspense-account

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   Dec 7, 2023 · A suspense account is a temporary account for uncertain transactions. Learn how to use it, when to eliminate it, and how to classify it as an asset or a liability.

3. Videos

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     Suspense accounts explained

     19 Dec 2017

     151K views

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     Correction of Errors and the Suspense Account | Explained with Examples

     3 Mar 2023

     49.6K views

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     4:10

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     Suspense accounts: short explanation

     8 Jun 2018

     24.5K views

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4. www.accaglobal.com › suspense-accounts-error-correctionSuspense accounts and error correction - ACCA Global

   www.accaglobal.com › suspense-accounts-error-correction

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   Learn what a suspense account is, how it is created and corrected in a computerised accounting system, and what types of errors affect the balancing of the accounting records. See an illustrative example of how to identify and rectify errors involving a suspense account.

5. www.patriotsoftware.com › blog › accountingWhat Is a Suspense Account? | Examples and How to Use - Patriot...

   www.patriotsoftware.com › blog › accounting

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   Jul 5, 2024 · A suspense account is a temporary holding account for unclassified transactions. Learn when to use a suspense account, how to record it and close it, and see journal entry examples.

   • Cash: 50

   • Suspense Account: 50

6. www.double-entry-bookkeeping.com › suspense-accountSuspense Account - Double Entry Bookkeeping

   www.double-entry-bookkeeping.com › suspense-account

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   Jan 18, 2023 · A suspense account is a temporary account for unclassified transactions in double entry bookkeeping. Learn how to use, record and reconcile suspense accounts with examples and tips.

   • Cash: 1,000

   • Suspense account: 1,000

7. www.accountingcoach.com › blog › suspense-accountWhat is a suspense account? - AccountingCoach

   www.accountingcoach.com › blog › suspense-account

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   A suspense account is a temporary general ledger account for transactions with unknown accounts. Learn how to use a suspense account and see an example from AccountingCoach, a website for accounting and bookkeeping education.

8. www.highradius.com › resources › BlogSuspense Account Definition, Types and Examples

   www.highradius.com › resources › Blog

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   May 29, 2024 · Learn what a suspense account is, how it works, and why it is used in accounting, mortgages, and brokerages. A suspense account is a temporary holding area for transactions that cannot be immediately classified or resolved.