Suspence Account

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Help!!!!
:(

I have my skills test on Tuesday and one of the questions in it is

You have a Suspense Account:
A cheque for £xxxxx was paid out of the firms bank account in dec the cash book describes this payment as Tax.

How would you attempt to discover what the payment represented so that you could account for it?????

Someone pleasssse help

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Suspence Account

    I would either

    1. Find the document that supported the cheque request

    2. Ask the person who signed the cheque

    Hope this helps.

    Violet
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Suspence Account

    You might be able to find something in the company's liabilities - creditors, or more likely on the balance sheet. 8)

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