Define: Suspense Account

UK Accounting Glossary

Definition: Suspense Account


Quick Summary of Suspense Account


A temporary account with which funds are deposited before allocation to the correct place. For example, if there is too much money in one account, it will be transferred to a suspense account until its correct location is discovered.



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Synonyms For Suspense Account


memorandum account, suspense accounts, clearing account, nominal account, special account

Suspense Account FAQ's



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https://payrollheaven.com/define/suspense-account/
Modern Language Association (MLA):
Suspense Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. January 21, 2020 https://payrollheaven.com/define/suspense-account/.
Chicago Manual of Style (CMS):
Suspense Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/suspense-account/ (accessed: January 21, 2020).
American Psychological Association (APA):
Suspense Account. PayrollHeaven.com. Retrieved January 21, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/suspense-account/

Definition Sources


Definitions for Suspense Account are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th December 2018.