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what is suspense balance?

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dmchambers09 Joined: 10 Nov 2009 Posts: 1 1.31 Dollars($)	Posted: Tue Nov 10, 2009 4:04 pm    Post subject: what is suspense balance? Like 0 Dislike 0 i went in to view my account activity on mortgagequestions.com and in the suspense balance it said $0.00 what exactly is suspense balance?
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Wed Nov 11, 2009 3:13 am    Post subject: Like 0 Dislike 0 Hi, As far as I know, a suspense account is just a temporary account where doubtful receipts and disbursements are kept before finalizing an account. This is done for accounting reasons. Since the suspense account balance is $0, it seems to suggest that your account is fine and there have not been any discrepancies that need further analysis prior to the finalization of your account.
triciahavens@hotmail.com Guest	Posted: Thu Nov 18, 2010 9:35 am    Post subject: Like 0 Dislike 0 IF THERE IS A BALANCE IN THE SUSPENSE ACCOUNT THEN WHAT DOES IT MEAN?
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Fri Nov 19, 2010 12:10 am    Post subject: Like 0 Dislike 0 Welcome triciahavens, If you have excess money in the account, then you will get it back at the year end. _________________ Procrastination is the enemy of your financial success

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