![]() ![]() However, such accounts are temporary which should be closed by the end of the accounting cycle. When you work with the trial balance, it is allowed to open a suspense account in order to hold the discrepancies until you identify them. In other words, when the trial balance goes out of balance or if the account has an unidentified transaction, it requires you to set up the suspense account. ![]() What is a Suspense Account in QuickBooks?Ī suspense account is an account that can be used temporarily or permanently to record doubtful entries. Importance of Suspense Account in QuickBooks.How Do You Clear a Suspense Account in QuickBooks?.How to Set Up a QuickBooks Suspense Account?.When You Should Use a Suspense Account?.What is a Suspense Account in QuickBooks?.
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