What is suspense account?
Answers were Sorted based on User's Feedback
Answer / ch.ramesh
if trail balance is not tally then we have to create the
suspense account (for trail balance equalize purpose )
Is This Answer Correct ? | 17 Yes | 5 No |
Answer / vicky
If You dont know in which account that expense is incurred then you have to put that to suspense account
Is This Answer Correct ? | 11 Yes | 1 No |
Answer / nitin
while tallying the trial balance , if there is a difference between both side and you dont know the reason of that then transfer it to the suspense account. when you come to know about the relevant account later on then transfer to it by closing suspense account.
Is This Answer Correct ? | 3 Yes | 0 No |
What is an asset, an expense, a liability, revenue and equity?
What does overhead mean in regards to accounting?
what is the due date of 28th feb
How we can create ledger for goods purchased from 1) Registered 2) Unregistered 3) Tax free Goods in Tally with examples its very urgent.
What is the Difference Between Sales Tax and VAT ?
RESERVE A/c - What is the type of A/c means is this a Personal A/c or Real A/c or Nominal A/c?
Why we do Inter company reconciliation
My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?
How to post salary advance transfer from one branch to another branch ?
what are the different methods of teaching share and debenture to pre degree students
Hi everyone Sir if we not deposited the TDS before 7th of Every month,tehn what is the penality rate
Tell me what would you say are the most important qualities of an account manager?