2 thoughts on “Is suspense account made after the books of accounts are closed or while preparing? or both is OK?”
Answer:
A suspense account is an account where you record unclassified transactions. The account temporarily holds entries while you decide how you will classify them. A suspense account can also hold information about discrepancies as you gather more data.
Answer:
A suspense account is an account where you record unclassified transactions. The account temporarily holds entries while you decide how you will classify them. A suspense account can also hold information about discrepancies as you gather more data.
Answer:
I prefer making the suspense a/c wile preparing the books of accounts
Explanation:
The reason being that I don’t miss out on it while searching through the trial balance