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suspense account

Line breaks: sus|pense ac|count

Definition of suspense account in English:

noun

An account in the books of an organization in which items are entered temporarily before allocation to the correct or final account.
Example sentences
  • Now the contract has been completed and the original contractor has since been paid, but the contract balance of US $38 million has been left in a suspense account with the Central Bank of Nigeria.
  • However, plans frequently fail to allocate their suspense accounts in accordance with their plan documents prior to the merger.
  • Ngqwala said that detailed reconciliations of balances on suspense accounts could not be furnished by the office.

Definition of suspense account in:

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