suspense account

This topic has 1 reply, 2 voices, and was last updated 11 years ago by John Moffat.

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November 19, 2014 at 11:37 am #211246
saifudeen
Member
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the ommission of petty cash book balance will cause a imbalance in the trial balance ?
and wether this needs a suspense account or not to correct this ?
November 19, 2014 at 6:08 pm #211346
John Moffat
Keymaster
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Yes it does – the suspense account is simply a way of keeping track of errors as we find them.

You might find the free lecture on suspense account to be helpful.
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