1.

In Order To Allow Unbalances Juurnal Posting What Action Is Required At Set Of Book Definition Level / What Is A Suspense Account And Its Purpose?

Answer»

If you choose to allow posting of out-of-balance/unbalanced journal entries, GL automatically posts the difference to SUSPENSE Account. However, the Suspense Account check BOX should be checked and an Account to be provided for this FEATURE to work during the creation of set of books.

If you have multiple COMPANIES or balancing entities within a set of books, GL automatically creates a suspense account for each balancing ENTITY.

If you choose to allow posting of out-of-balance/unbalanced journal entries, GL automatically posts the difference to Suspense Account. However, the Suspense Account check box should be checked and an Account to be provided for this feature to work during the creation of set of books.

If you have multiple companies or balancing entities within a set of books, GL automatically creates a suspense account for each balancing entity.


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