DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Suspense


#1

Can some one tell me what the Suspense is? When I do a Cash Summary it shows up as part of my earnings, but I know this is wrong.


#2

When you click on Suspense balance, you will see individual transactions in it. Can you post screenshot of at least one transaction? Then I will be able to tell you why it was posted to Suspense

Generally, every transaction in Manager (receipt, payment, invoice) is a set of debit and credit amounts to various accounts where debits must always equal credits. If some transaction is incomplete (for example, some accounts are not known), Manager will post the amount to special Suspense account to enforce accounting equation.


#3

I have also notice on the right side there is a Credit Account drop down and is set to Suspence by default. I have been using the account drop down. Do I need to set both the same before I save???


#4

When you enter new expense claim, you will usually debit expense account (in your case “Stock purchase”) and credit some loan account.

Eventually Credit account drop-down will be deleted and replaced by more user-friendly mechanism.

Until then, go to Chart of Accounts, create new liability account called “Loan - Mary Smith” (replace Mary Smith with name of the person that is paying on behalf of the business) and use this liability account as Credit account when entering new expense claims.