What is SUSPENSE ACCOUNT?

An account that is temporary used to record (1) receipts or disbursements from unconcluded transactions or (2) discrepancies between account totals until rectified.

More On This Topic



Link to This Definition
Did you find this definition of SUSPENSE ACCOUNT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary