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suspense account

noun, Bookkeeping.
an account in which items are temporarily entered until their final disposition is determined.
Origin of suspense account
1875-80 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for suspense account
  • In a bank, there is a capital account and a suspense account.
  • Recovery of overpayments of unemployment insurance benefits are deposited into the special suspense account.
  • Use the suspense account sparingly, and clear out transactions within thirty days of entry into the account.
  • All suspense account entries that have effective dates for the certified period must be cleared.
  • The typical program requires that the purchase amount be maintained in a suspense account.
  • Select the alternate suspense account for the first field and the account suspense account for the second field.
  • Also, the center may list system-defined centers which are used with the suspense account and with summary accounts.
  • The suspense account used for these advance payments is also used for other transactions that cannot otherwise be posted.
British Dictionary definitions for suspense account

suspense account

(accounting) an account in which entries are made until determination of their proper disposition
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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