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Define suspense account in Oracle apps and why is it
mandatory?

Answers were Sorted based on User's Feedback



Define suspense account in Oracle apps and why is it mandatory?..

Answer / rahul

As far as i know, You can simply enable 'suspense account'
at 'set of books' level and specify the same account in the
respective filed.

Well technically it is not mandatory but it's preferrable
because while entering journals whenever "A debit line is
entered with out it's corresponding credit line or credit
line is entered with out it's corresponding debit line the
suspense account will come into play to balance the entry
as per the accounting convention i.e 'double entry system'.

You can also customize the suspense account as per your
requirements when this setup is done the account which is
specified by the user will come instead of suspense account
and the suspense line will be added.

Is This Answer Correct ?    10 Yes 0 No

Define suspense account in Oracle apps and why is it mandatory?..

Answer / budagam ashwin kumar

when ever user enter debit with out credit at that time system automatically populate the SUSPENSE a/C IF suspense account enable if it is disabled system automatically shows error no6
unbalanced journal Entry Suspense not allowed.

Suspense account is an account in GL in Which amounts are temporarily Recorded. The suspense a/c is used because the Proper Account Could not 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.

Is This Answer Correct ?    6 Yes 0 No

Define suspense account in Oracle apps and why is it mandatory?..

Answer / kim khan

Suspense account is used to balance out of balance journal
entries, this is achieved by enabling the suspense account
check box and entering a account code for it. You can also
create suspense account per journal source and category.

Is This Answer Correct ?    4 Yes 3 No

Define suspense account in Oracle apps and why is it mandatory?..

Answer / kapil

Hi,

You can enbale suspense account at SOB/Ledger level.
However it is not mandatory.

Is This Answer Correct ?    0 Yes 1 No

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