Bookkeeping Tip #15
Joe Cavell March 2, 2026
Use suspense accounts carefully.
A suspense account is a temporary holding spot for transactions you can’t categorize right away. For example, if you see a $500 deposit with no invoice or details, park it in the suspense account until you figure out where it belongs. Once clarified, move it to the correct account.
⚠️ Important: Suspense accounts are not a fix for unbalanced books. Leaving transactions unresolved can cause errors. Always monitor and clear suspense accounts regularly.
✅ Keeps transactions organized
✅ Prevents mis categorizing
✅ Ensures your books stay accurate
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